Albany International Corporation · NYSE:AIN
Albany International — Q2 2026 Earnings Presentation
23 slides from Albany International's earnings presentation, Aug 4, 2026
Slide 1: Q2 2026 Earnings Update
PROPRIETARY & CONFIDENTIAL Q2 2026 EARNINGS UPDATE August 4, 2026 This document contains proprietary, confidential, and/or trade secret information. Possessing, using, copying or disclosing this document to or for the benefit of any third party without prior written consent may result in criminal an
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT This presentation contains certain items, such as earnings before interest, taxes, depreciation and amortization (EBITDA), Adjusted EBITDA, Adjusted EBITDA Margins, Free Cash Flow and net debt, as well certain income and expense items on a per share basis, that could be conside
Slide 3: A Differentiated Materials Science Company
PROPRIETARY & CONFIDENTIAL A Differentiated Materials Science Company Applying Advanced Industrial and 3D Weaving Technologies to Critical Aerospace, Defense, Paper and Industrial Applications. 3
Slide 4: Strategic Overview
STRATEGIC OVERVIEW Two unique end markets from one shared expertise in weaving technology MACHINE CLOTHING ENGINEERED COMPOSITES Global leader in paper machine fabrics and Long-term growth engine process belts Grew organically from weaving and composites manufacturing capabilities Leading position i
Slide 5: Q2 Consolidated Financials
Q2 CONSOLIDATED FINANCIALS (Millions USD, except per share data) Q2 2026 Q2 2025 Total Revenue* $329.5 $311.4 Adjusted** EBITDA $57.8 $51.9 Adjusted** EBITDA Margin 17.6% 16.7% Adjusted** Diluted Earnings Per Share $0.82 $0.57 ** For a full reconciliation of GAAP to non-GAAP results, please refer to
Slide 6: Machine Clothing End Markets
MACHINE CLOTHING END MARKETS Global stability with softness in Asia GEOGRAPHY PAPER GRADE AMERICAS TISSUE MODERATING Bright spot globally with planned new investments supporting Slight moderation tied to customer facility closures and growing demand consolidation PACKAGING EUROPE Long-term secular t
Slide 7: Engineered Composites End Markets
ENGINEERED COMPOSITES END MARKETS Broad portfolio performing; portfolio reshaping to enhance profitability COMMERCIAL DEFENSE AEROSPACE AEROSPACE GROWING STABLE 787 One Piece Frame production rate has doubled since January F-35 program at rate BETA certification progressing and production ramping Ne
Slide 8: Engineered Composites Growth
ENGINEERED COMPOSITES GROWTH Significant expansion of opportunities for our portfolio of Advanced Composite Technology Solutions ▪ Continuing with rapid development of our high-temperature composite capabilities utilizing our advanced 3D woven and infusion technologies in support of solid rocket mot
Slide 9: Q2 Machine Clothing Financials
Q2 MACHINE CLOTHING FINANCIALS ON A CONSTANT CURRENCY BASIS (Millions USD) Q2 2026 Q2 2025 Revenue* $176.6 $180.9 Adjusted* EBITDA $51.2 $52.2 Adjusted* EBITDA Margin 29.0% 28.9% * For a full reconciliation of GAAP to non-GAAP results, please refer to the appendix as well as the tables and Basis of
Slide 10: Q2 Engineered Composites Financials
Q2 ENGINEERED COMPOSITES FINANCIALS ON A CONSTANT CURRENCY BASIS (Millions USD) Q2 2026 Q2 2025 Revenue $148.9 $130.5 Adjusted**EBITDA $20.0 $11.1 Adjusted** EBITDA Margin 13.3% 8.5% • For a full reconciliation of GAAP to non-GAAP results, please refer to the appendix as well as the tables and Basis
Slide 11: Q2 Cash Flow and Balance Sheet
Q2 CASH FLOW AND BALANCE SHEET (Millions USD) Q2 2026 Q2 2025 Free Cash Flow* ($14.5) $17.8 R&D Spend $11.7 $12.6 Capex $11.9 $14.9 * For a full reconciliation of GAAP to non-GAAP results, please refer to the appendix as well as the tables and Basis of Presentation included in the earnings release A
Slide 12: Financial Snapshot
FINANCIAL SNAPSHOT Strong balance sheet and cash flow supports disciplined capital allocation Balanced capital allocation strategy For the second-quarter ended June 30, 2026 directed toward organic growth through CAPEX and consistent R&D investment, along with return of cash to $11.9M $427M CAPEX Sp
Slide 13: Guidance
GUIDANCE Q3 2026 broadly consistent with recent trends Underlying trends persist into Q3 Outlook for the Third Quarter of 2026: Machine Clothing • Consolidated revenue between $320 million and $330 million • Americas moderating, seeing some softness related to paper industry capacity rationalization
Slide 14: Question and Answer
PROPRIETARY & CONFIDENTIAL QUESTION AND ANSWER This document contains proprietary, confidential, and/or trade secret information. Possessing, using, copying or disclosing this document to or for the benefit of any third party without prior written consent may result in criminal and/or civil liabilit
Slide 15: Appendix
PROPRIETARY & CONFIDENTIAL APPENDIX This document contains proprietary, confidential, and/or trade secret information. Possessing, using, copying or disclosing this document to or for the benefit of any third party without prior written consent may result in criminal and/or civil liability. 15
Slide 16: Appendix: Net Income to Adjusted EBITDA Reconciliation
APPENDIX GAAP to non-GAAP reconciliation Reconciliation of Net income/(loss) (GAAP) to Adjusted EBITDA (non-GAAP) for the current-year and comparable prior-year periods have been calculated as follows. albint.com | AIN | ©2025 Albany International Corp | Distribution subject to restrictions on first
Slide 17: Appendix: Net Income to Adjusted EBITDA Reconciliation
APPENDIX GAAP to non-GAAP reconciliation Reconciliation of Net income/(loss) (GAAP) to Adjusted EBITDA (non-GAAP) for the current-year and comparable prior-year periods have been calculated as follows. albint.com | AIN | ©2025 Albany International Corp | Distribution subject to restrictions on first
Slide 18: Appendix: Net Revenues Excluding Currency Effects
APPENDIX GAAP to non-GAAP reconciliation The following table presents the reconciliation of Net revenues to net revenues excluding the effect of changes in currency translation rates, a non-GAAP measure: albint.com | AIN | ©2025 Albany International Corp | Distribution subject to restrictions on fir
Slide 19: Appendix: Machine Clothing Adjusted EBITDA Margin Reconciliation
APPENDIX GAAP to non-GAAP reconciliation The following table presents the reconciliation of Machine Clothing's Adjusted EBITDA Margin to Adjusted EBITDA Margin excluding the effect of changes in currency translation rates, a non-GAAP measure: albint.com | AIN | ©2025 Albany International Corp | Dist
Slide 20: Appendix: Per Share Impact of Adjustments
APPENDIX GAAP to non-GAAP reconciliation Per share impact of the adjustments to earnings per share are as follows: albint.com | AIN | ©2025 Albany International Corp | Distribution subject to restrictions on first page. 20
Slide 21: Appendix: Adjusted Diluted EPS Reconciliation
APPENDIX GAAP to non-GAAP reconciliation The following table provides a reconciliation of Earnings per share attributable to the Company shareholders - Diluted (GAAP) to Adjusted earnings per share attributable to the Company shareholders - Diluted (non-GAAP): albint.com | AIN | ©2025 Albany Interna
Slide 22: Appendix: Net Debt Calculation
APPENDIX GAAP to non-GAAP reconciliation The calculations of net debt are as follows: albint.com | AIN | ©2025 Albany International Corp | Distribution subject to restrictions on first page. 22
Slide 23: Appendix: Free Cash Flow Calculation
APPENDIX GAAP to non-GAAP reconciliation Free cash flow is defined as GAAP "Net cash provided by operating activities" in a period less "Purchases of property, plant and equipment" and "Purchased software" in the same period. Management believes free cash flow provides an important perspective on ou