Company: MATV
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001000623-25-000049
Chunk: 40

Company: Mativ Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 40
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 table presents gross profit (in millions):

 Six Months EndedJune 30, Percent ChangePercent of Net Sales20252024Change20252024Net sales$1,010.2 $1,024.0 $(13.8)(1.3)%100.0 %100.0 %Cost of products sold833.9 831.1 2.8 0.3 %82.5 %81.2 %Gross profit$176.3 $192.9 $(16.6)(8.6)%17.5 %18.8 %

Gross profit of $176.3 million during the six months ended June 30, 2025 decreased $16.6 million, or 8.6%, compared to the prior year period, reflecting higher manufacturing and distribution costs, unfavorable relative net selling price versus input cost performance, and lower volume/mix in our FAM segment, partially offset by higher volume/mix in our SAS segment. 

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Nonmanufacturing Expenses

The following table presents nonmanufacturing expenses (in millions):

 Six Months EndedJune 30, Percent ChangePercent of Net Sales20252024Change20252024Selling and general expense$120.5 $126.7 $(6.2)(4.9)%11.9 %12.4 %Research and development expense13.0 11.8 1.2 10.2 %1.3 %1.2 %Intangible asset amortization expense31.3 31.5 (0.2)(0.6)%3.1 %3.1 %Nonmanufacturing expenses$164.8 $170.0 $(5.2)(3.1)%16.3 %16.6 %

Nonmanufacturing expenses of $164.8 million during the six months ended June 30, 2025 decreased $5.2 million, or 3.1%, compared to the prior year period primarily due to lower selling and general expense, as a result of actions taken under the Plan, partially offset by $5.9 million incurred during the first quarter of 2025 related to our previously disclosed Chief Executive Officer transition. 

Restructuring and Other Impairment Expense

The following table presents restructuring and other impairment expense by segment (in millions):

 Six Months EndedJune 30,Percent of Net Sales20252024Change