ALBANY INTERNATIONAL CORP /DE/

Listed Company

AINCIK 0000819793NYSELarge AcceleratedBroadwoven Fabric Mills, Man Made Fiber & SilkDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.18B

Net Income

$-57.34M

Total Assets

$1.72B

Equity

$726.21M

Shares Out

28.40M

Op. Cash Flow

$152.47M

Business

ALBANY INTERNATIONAL CORP /DE/ is a global advanced textiles and materials processing company that designs and manufactures high-performance engineered fabrics and composite components and assemblies for industrial and aerospace applications. It offers customized paper machine clothing, engineered fabric products and high-performance composite structures, parts and assemblies—serving paper, nonwovens, industrial manufacturing, aerospace, defense, space-launch and emerging advanced air mobility markets—along with research, development and technical support services. The company operates through two reportable segments: Machine Clothing and Albany Engineered Composites. It sells products and services worldwide through direct sales to end-users, OEMs and government contractors and maintains manufacturing facilities across North America, Europe, Asia and Latin America.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net revenues	1,183	1,231	1,148	1,035	929
Cost of goods sold	939	829	724	645	551
Gross profit	244	402	424	390	378
Selling, general and administrative expenses	218	211	215	169	160
Technical and research expenses	48	46	41	40	39
Restructuring expenses, net	14	13	282,000	106,000	1
Operating income/(loss)	−36	131	168	181	178
Interest income	−5	−4	−7	−4	−3
Interest expense	26	17	20	18	—
Other expense/(income), net	5	2	−6	−14	3
Income/(loss) before income taxes	−62	117	160	132	166
Income tax (benefit)/expense	−5	29	49	35	47
Net income/(loss)	−57	88	112	97	119
Net income attributable to the noncontrolling interest	383,000	432,000	490,000	746,000	290,000
Net income/(loss) attributable to the Company	−57	88	111	96	118
Basic earnings (loss) per share attributable to Company shareholders (in dollars per share)	−1.94	2.81	3.56	3.06	3.66
Diluted earnings (loss) per share attributable to Company shareholders (in dollars per share)	−1.94	2.8	3.55	3.04	3.65
Dividends declared per share (in dollars per share)	1.09	1.05	1.01	0.88	0.81
Basic (in shares)	30	31	31	31	32
Diluted (in shares)	30	31	31	31	32

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	112	115	173	292	302
Accounts receivable, net	235	247	288	200	192
Contract assets, net	87	167	182	149	113
Inventories	122	146	170	139	118
Income taxes prepaid and receivable	44	19	11	8	2
Prepaid expenses and other current assets	35	37	54	51	32
Assets held for sale	294	0	—	—	—
Total current assets	929	731	878	838	759
Property, plant and equipment, net	483	563	602	446	—
Intangibles, net	21	38	45	34	39
Goodwill	163	176	180	178	182
Deferred income taxes	68	29	23	15	26
Other assets	55	111	103	103	81
Total assets	1,719	1,649	1,835	1,642	1,556
Accounts payable	64	66	87	70	69
Accrued liabilities	139	142	143	126	124
Income taxes payable	35	18	14	15	15
Liabilities held for sale	203	0	—	—	—
Total current liabilities	442	226	249	211	208
Long-term debt	456	319	453	439	350
Other noncurrent liabilities	87	139	139	109	108
Deferred taxes and other liabilities	2	16	27	16	12
Total liabilities	987	700	868	775	678
Commitments and Contingencies (Note 21)	—	—	—	—	—
Preferred stock, par value $5.00 per share; authorized 2,000,000 shares; none issued	0	0	0	0	0
Additional paid-in capital	460	453	448	442	437
Retained earnings	976	1,066	1,011	931	863
Translation adjustments	−119	−182	−125	−147	−106
Pension and postretirement liability adjustments	−24	−14	−17	−16	−38
Derivative valuation adjustment	−619,000	−106,000	9	18	−2
Treasury stock (Class A), at cost; 12,685,782 shares in 2025 and 9,844,746 in 2024	−567	−379	−365	−365	—
Total Company shareholders equity	726	944	961	863	874
Noncontrolling interest	6	5	6	4	4
Total shareholders' equity	732	949	967	868	878
Total liabilities and shareholders equity	1,719	1,649	1,835	1,642	1,556

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	83	83	70	63	65
Amortization	5	7	6	7	9
Change in deferred taxes and other liabilities	−43	−15	−2	−8	12
Impairment of property, plant, equipment, and inventory	−390,000	2	2	2	856,000
Non-cash interest expense	1	1	1	1	875,000
Contract loss provision	140	0	0	—	—
Share-based compensation	10	5	7	—	—
Provision/(recovery) for credit losses from uncollected receivables and contract assets	−139,000	310,000	640,000	1	−1
Foreign currency remeasurement (gain)/loss on intercompany loans	9	81,000	−3	−4	−3
Fair value adjustment on foreign currency options	0	0	−139,000	−509,000	169,000
Gain on sale of assets	−2	−513,000	0	0	—
Accounts receivable	−724,000	32	−11	−14	−8
Contract assets	−23	12	−32	−36	25
Inventories	18	15	15	−25	−10
Prepaid expenses and other current assets	2	4	2	−4	−998,000
Income taxes prepaid and receivable	−25	−9	−3	−6	4
Accounts payable	9	−3	−6	9	9
Accrued liabilities	8	−1	−10	3	−774,000
Income taxes payable	15	7	−2	183,000	−477,000
Noncurrent receivables	0	−780,000	4	4	4
Other noncurrent liabilities	−3	−8	−10	−10	−14
Other, net	8	582,000	8	4	2
Net cash provided by operating activities	152	218	148	128	217
Purchase of business, net of cash acquired	0	0	−133	0	0
Purchases of property, plant and equipment	−70	−80	−84	−94	−53
Purchased software	−2	−958,000	−869,000	−3	−906,000
Proceeds received from sale of assets	3	1	0	0	—
Net cash used in investing activities	−68	−80	−218	−96	−54
Proceeds from borrowings	272	146	78	162	8
Principal payments on debt	−147	−280	−92	−73	−56
Debt acquisition costs	0	0	−4	0	0
Purchase of Treasury shares	−186	−14	0	−85	−23
Taxes paid in lieu of share issuance	−3	−3	−3	−770,000	−998,000
Dividends paid	−32	−32	−31	−26	−26
Net cash used in financing activities	−96	−184	−53	−24	−100
Effect of exchange rate changes on cash and cash equivalents	9	−13	4	−18	−3
(Decrease) in cash and cash equivalents	−3	−58	−118	−10	61

Filings

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