Company: MATV
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001000623-25-000009
Chunk: 76

Company: Mativ Holdings, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 76
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33)$(1.64)Diluted$(0.90)$(9.33)$(1.64)

(1) Results during the year ended December 31, 2022 include Neenah from the July 6, 2022 acquisition date to December 31, 2022.

38

Comparison of the Years Ended  December 31, 2024 and 2023 

Net Sales

The following table presents net sales by segment (in millions):

20242023ChangePercent ChangeFAM$766.5 $810.0 $(43.5)(5.4)%SAS1,214.6 1,216.0 (1.4)(0.1)%Total$1,981.1 $2,026.0 $(44.9)(2.2)%

Net sales of $1,981.1 million during the year ended December 31, 2024 decreased $44.9 million, or 2.2% compared to the prior year-end. FAM segment net sales of $766.5 million during the year ended December 31, 2024 decreased $43.5 million, or 5.4% compared to prior year-end. Sales reflected lower volume (-3.7%) and lower selling prices (-1.9%).  

SAS segment net sales of $1,214.6 million during the year ended December 31, 2024 decreased $1.4 million, or 0.1% compared to the prior year-end. Sales reflected lower selling prices (-0.6%), partially offset by higher volume (2.3%) net of closed and divested facilities (-2.0%).

Gross Profit

The following table presents gross profit (in millions):

 Percent ChangePercent of Net Sales20242023Change20242023Net sales$1,981.1 $2,026.0 $(44.9)(2.2)%100.0 %100.0 %Cost of products sold1,617.0 1,670.2 (53.2)(3.2)%81.6 %82.4 %Gross profit$364.1 $355.8 $8.3 2.3 %18.4 %17.6 %

Gross profit of $364.1 million during the year ended December 31, 2024 increased $8.3 million, or 2