Albany International Corporation · NYSE:AIN
Albany International — Q1 2026 Earnings Presentation
22 slides from Albany International's earnings presentation, Apr 30, 2026
Slide 1: Q1 2026 Earnings Update
PROPRIETARY & CONFIDENTIAL Q1 2026 EARNINGS UPDATE April 30, 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: 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 4: Q1 Consolidated Financials
Q1 CONSOLIDATED FINANCIALS (Millions USD, except per share data) Q1 2026 Q1 2025 Total Revenue* $311.3 $288.8 Adjusted** EBITDA $48.2 $55.7 Adjusted** EBITDA Margin 15.5% 19.3% Adjusted** Diluted Earnings Per Share $0.60 $0.73 ** For a full reconciliation of GAAP to non-GAAP results, please refer to
Slide 5: Machine Clothing End Markets
MACHINE CLOTHING END MARKETS Global stability with softness in Asia GEOGRAPHY PAPER GRADE AMERICAS TISSUE STABLE Bright spot globally with planned new investments supporting Growth in Tissue partly impacted by industry consolidation largely growing demand impacting packaging PACKAGING EUROPE Long-te
Slide 6: Engineered Composites End Markets
ENGINEERED COMPOSITES END MARKETS Broad portfolio performing; portfolio reshaping to enhance profitability COMMERCIAL DEFENSE AEROSPACE AEROSPACE GROWING STABLE LEAP deliveries increasing with customer demand F-35 program at rate BETA certification underway and production ramping Focusing new busine
Slide 7: Pratt & Whitney Award
PRATT & WHITNEY AWARD This award reflects AEC’s ability to deliver high-volume, high-precision composite structures Geared Turbofan Contract ▪ AEC secured a long-term contract to supply advanced composite components for Pratt & Whitney’s fuel-efficient commercial aviation Pratt & Whitney GTFTM engin
Slide 8: Q1 Machine Clothing Financials
Q1 MACHINE CLOTHING FINANCIALS ON A CONSTANT CURRENCY BASIS (Millions USD) Q1 2026 Q1 2025 Revenue* $159.8 $174.7 Adjusted* EBITDA $45.1 $49.7 Adjusted* EBITDA Margin 28.2% 28.4% * For a full reconciliation of GAAP to non-GAAP results, please refer to the appendix as well as the tables and Basis of
Slide 9: Q1 Engineered Composites Financials
Q1 ENGINEERED COMPOSITES FINANCIALS (Millions USD) Q1 2026 Q1 2025 Revenue $145.4 $114.1 Adjusted* EBITDA $16.9 $15.4 Adjusted** EBITDA Margin 11.7% 13.5% * 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
Slide 10: Q1 Cash Flow and Balance Sheet
Q1 CASH FLOW AND BALANCE SHEET (Millions USD) Q1 2026 Q1 2025 Free Cash Flow* ($3.6) ($13.5) R&D Spend $13.0 $11.9 Capex $9.3 $15.6 * 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 d
Slide 11: Financial Snapshot
FINANCIAL SNAPSHOT Strong balance sheet and cash flow supports disciplined capital allocation Balanced capital allocation strategy For the first-quarter ended March 30, 2026 directed toward organic growth through CAPEX and consistent R&D investment, along with return of cash to $9.3M $446M CAPEX Spe
Slide 12: Guidance
GUIDANCE Q2 2026 broadly consistent with recent trends Underlying trends persist into Q2 Outlook for the Second Quarter of 2026: Machine Clothing • Consolidated revenue between $335 million and $345 million • Americas strong progress was made towards recovery post an equipment failure in Q1, and ant
Slide 13: 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 14: 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. 14
Slide 15: 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 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 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 18: 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 19: 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. 19
Slide 20: Appendix: Adjusted Earnings Per Share 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 21: 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. 21
Slide 22: 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