Ahlström Capital in brief
Ahlström Capital focuses its investment activity on industrial companies, real estate and forest. We are a family-owned company with a history of more than 160 years, and one of the largest and most significant investment companies in Finland. Ahlström Capital creates long-term shareholder value by actively developing its portfolio.
Key figures 2018
Revenue and comparable operating profit, MEUR
Revenue
Comparable operating profit
*Restated due to discontinued operations.
**Restated due to the implementation of IFRS15
Profit for the period, MEUR
Balance sheet total, MEUR and net gearing, EFV-adjusted
Balance sheet total
Net gearing, EFV-adjusted
*Restated due to the implementation of IFRS15
External fair value (EFV) per share and dividend per share, EUR
External fair value (EFV) per share
Dividend per share
Extra dividend per share
* Board’s dividend proposal
”In 2018, our main priority was to further develop the companies in our portfolio. Ahlström Capital as the largest shareholder had a significant role in strategically important acquisitions announced by Ahlstrom-Munksjö during the summer 2018 and Glaston in January 2019.”
Lasse Heinonen
President and CEO
Ahlstrom-Munksjö acquired specialty paper producer Expera Specialty Solutions in the U.S. and MD Papéis’ Caieiras specialty paper mill in Brazil. Through these investments, Ahlstrom-Munksjö has a more balanced geographical sales mix and is in better position to serve its customers.
Detection Technology (DT) invested in R&D and made a long-term strategic investment by acquiring the French technology company, MultiX S.A. The deal expands the technology base of DT, thereby strengthening its position in the security, industrial and medical X-ray imaging market.
In January 2019, Glaston announced that it will acquire the Bystronic glass Group, further strengthening its position in the glass processing value chain. The acquisition diversifies Glaston’s offering to the architectural market and complements the offering to the automotive market.
Suominen strives to offer the most sustainable nonwovens on the market. The Suominen Sustainability Agenda is linked to the Sustainable Development Goals set out by the United Nations. In 2018 the company also launched value-added products like Suominen Intelligent Nonwovens™.
Destia’s ambition is to grow into a stronger urban developer. At the same time, Destia will chart new business opportunities in Northern Sweden and Northern Norway. Destia is looking for a more prominent role in the sector’s value chain.
Enics’ updated strategy is built on increased customer centricity, with emphasis on integrated life-cycle services and digitalization. Enics’ ambition is to deliver the best customer experience and uncompromised reliability in industrial electronics.
We focus on prime location buildings in Southern Finland. Our revised real estate strategy allows us to take an even more active role in development and conversion projects. Our flagship building is the “Industrial Palace” on Eteläesplanadi 14.
With 33,000 hectares of forest, Ahlström Capital is one of the largest private forest owners in Finland. We have a long tradition in sustainable forest management and all our forests are PEFC certified.
Our portfolio
~ EUR 5 billion
revenue of portfolio companies, total
~15,000
employees in portfolio companies
32
operating countries
Listed companies
Ahlstrom-Munksjö is a global leader in fiber-based materials, supplying innovative and sustainable solutions to customers worldwide.
Revenue
Comparable operating profit
*2017 figures as well as all comparison figures are presented on a pro forma basis to illustrate the financial impact of the merger between Ahlstrom and Munksjö as if it had been completed at the beginning of 2015.
* Pro forma
Ahlström Capital’s shareholding
18.7%
Market capitalisation
1,397 MEUR
Suominen manufactures nonwovens as roll goods for wipes, hygiene products and medical applications. Suominen is the global market leader in nonwovens for wipes.
Revenue
Comparable operating profit
Ahlström Capital’s shareholding
24.0%
Market capitalisation
118 MEUR
Detection Technology is a global provider of X-ray detector solutions for medical, security and industrial applications.
Revenue
Comparable operating profit
Ahlström Capital’s shareholding
36.7%
Market capitalisation
235 MEUR
Glaston is a frontrunner in glass processing technologies and services. The company responds globally to the most demanding glass processing needs of the architectural, solar, appliance and automotive industries.
Revenue
Comparable operating profit
* Pro forma
Ahlström Capital’s shareholding
17.5%
Market capitalisation
75 MEUR
Non-listed companies
Destia is a Finnish infrastructure and construction service company. The company designs, builds and maintains traffic routes, industrial and traffic environments, as well as complete living environments.
Revenue
Comparable operating profit
Ahlström Capital’s shareholding
100.0%
Enics is the partner of choice for professional electronics in the fields of energy, industrial automation, transportation, building automation and instrumentation.
Revenue
Comparable operating profit
Ahlström Capital’s shareholding
99.0%
Real estate and forest
Real estate
Ahlström Capital’s real estate portfolio includes prime location buildings in Southern Finland. Our portfolio also includes heritage assets in Noormarkku and Kauttua.
76,000 m2
real estate
area in total
143 MEUR
External fair value of
real estate
Forest
Ahlström Capital’s forest assets are mainly located in Western Finland in the Satakunta region, and in Central and Eastern Finland.
33,000 ha
Forests in total
128 MEUR
External fair value
of forests
Sustainable value creation
We at Ahlström Capital believe that sustainability is a prerequisite for creating long-term value. We are committed to promoting responsible business practices in our portfolio companies and to conduct sustainable asset management of our real estate and forest investments.
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