Company: MATV
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001000623-25-000064
Chunk: 36

Company: Mativ Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 36
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 on trading relationships, including as a result of future developments, may impact the macroeconomic conditions in the markets in which we operate. Although we are continuing to monitor the impact of such announcements, as well as opportunities to mitigate their related impacts, costs and other effects associated with the tariffs remain uncertain.

Liquidity & Debt Overview 

As of September 30, 2025, the Company had $1,028.9 million of total debt, $97.1 million of Cash and cash equivalents, $5.8 million of Restricted cash, and $420.2 million of undrawn capacity on its $600.0 million revolving line of credit facility (the "Revolving Facility"). Per the terms of the Company's amended credit agreement (the "Amended Credit Agreement"), net leverage was 4.2x at the end of the third quarter, versus a current maximum covenant ratio of 5.50x. 

As of September 30, 2025, the Company’s nearest debt maturity was our Revolving Credit Facility, Term Loan A Facility, and Delayed Draw Term Loan Facility, due on May 6, 2027. Refer to "Liquidity and Capital Resources" section for additional detail.

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SUMMARY

Three Months EndedSeptember 30,Percent of Net SalesNine Months EndedSeptember 30,Percent of Net Sales(in millions, except per share amounts)20252024202520242025202420252024Net sales$513.7 $498.5 100.0 %100.0 %$1,523.9 $1,522.5 100.0 %100.0 %Gross profit$99.4 $93.6 19.3 %18.8 %$275.7 $286.5 18.1 %18.8 %Restructuring & other impairment expense$8.1 $11.2 1.6 %2.2 %$18.2 $37.4 1.2 %2.5 %Operating profit (loss)$16.0 $7.0 3.1 %1.4 %$(394.5)$3.7 (25.9)%0.2 %Interest expense$17.7 $18.3 3.4 %3.7 %$54.1 $55.0 3.6 %3