Mativ Holdings, Inc. announced its first quarter 2025 financial results, reporting a consolidated net sales of $484.8 million, a 3.1% decrease year-over-year. The company recorded a GAAP operating loss of $430.6 million, which included a significant $411.9 million non-cash goodwill impairment charge.
The Sustainable & Adhesive Solutions (SAS) segment continued its positive trend, delivering its fifth consecutive quarter of year-over-year improvements with 5.7% organic revenue growth and adjusted EBITDA increasing over 3% to $33.3 million. This growth was driven by higher volumes across all product categories.
Conversely, the Filtration & Advanced Materials (FAM) segment's performance was impacted by higher-priced year-end inventory and continued slow demand in transportation and construction-related end markets. FAM sales were $187.6 million, down 7.4% year-over-year, and adjusted EBITDA decreased 30% to $23.3 million.
As of March 31, 2025, Mativ's net debt stood at $1,038.8 million, and the company reported cash used in operating activities of $15.9 million year-to-date. CEO Shruti Singhal emphasized accelerating execution, focusing on enhanced commercial execution, deleveraging the balance sheet, and conducting a strategic portfolio review.
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