Company: MATV
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001000623-25-000049
Chunk: 58

Company: Mativ Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 2
Chunk 58
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 2024 included severance charges, along with costs associated with facility closures announced in prior years. 

35

Operating Profit (Loss)

The following table presents operating profit (loss) by segment (in millions):

 Six Months EndedJune 30,Percent ChangeReturn on Net Sales20252024Change20252024Filtration & Advanced Materials$(387.4)$39.8 $(427.2)N.M.(98.8)%9.7 %Sustainable & Adhesive Solutions37.8 19.8 18.0 90.9 %6.1 %3.2 %Unallocated expenses(60.9)(62.9)2.0 (3.2)%  Total$(410.5)$(3.3)$(407.2)N.M.(40.6)%(0.3)%

Operating loss was $410.5 million during the six months ended June 30, 2025 compared to operating loss of $3.3 million in the prior year period. 

In the FAM segment, operating loss was $387.4 million during the six months ended June 30, 2025 reflecting a $427.2 million decrease, compared to operating profit of $39.8 million in the prior year period  primarily due to the $411.9 million goodwill impairment during the first quarter of 2025, see Note 6. Goodwill. Excluding the goodwill impairment, operating profit was $24.5 million, a $15.3 million decrease from the prior year due to higher manufacturing and distribution costs, unfavorable net selling price versus input cost performance and lower volume/mix, partially offset by lower selling and general expenses. 

In the SAS segment, operating profit was $37.8 million during the six months ended June 30, 2025 reflecting a $18.0 million increase, compared to the prior year period, driven by lower restructuring and other impairment expenses, higher volume/mix net of  sales associated with closed facilities, and lower selling and general expenses, partially offset by higher manufacturing and distribution costs. 

Unallocated expenses of $60.9 million during the six months ended June 30, 2025 decreased $2.0 million compared to the prior year, primarily related to a decrease in selling and general expenses as a result of actions taken under the Plan.

Interest Expense 

Interest expense of $36.4 million during the six months ended June 30, 2025 decreased