Albany International Corp.

Business model and segments

• Two operating segments:
  • Machine Clothing (MC): Global producer of custom-designed fabrics and high-speed process belts for papermaking (Paper Machine Clothing, or PMC) and Engineered Fabric (EF) products for nonwovens, fiber cement, and other industrial applications.
  • Albany Engineered Composites (AEC): Provider of advanced composite solutions and components for aerospace and defense, including space and advanced air mobility (AAM). Includes Albany Safran Composites, LLC (ASC); SAFRAN holds a 10% noncontrolling interest in ASC.
• Key value propositions:
  • MC: Custom, consumable PMC products that improve paper quality and energy/resource efficiency; EF products for additional industrial applications.
  • AEC: High-strength, lightweight composite parts and solutions for commercial and defense aerospace, including 3D-woven composites, laminated structures, automated fiber placement, and through-thickness reinforcements.

Revenue and growth (figures in thousands of USD)

• Consolidated total net revenues:
  • 2025: 1,182,813
  • 2024: 1,230,615
  • 2023: 1,147,909
• Segment revenues:
  • MC:
    • 2025: 708,066
    • 2024: 749,907
    • 2023: 670,768
  • AEC:
    • 2025: 474,747
    • 2024: 480,708
    • 2023: 477,141
• Major customer concentration:
  • SAFRAN accounted for approximately 15% of consolidated net revenues in 2025.
  • In MC, no single customer accounted for 10% or more of MC net revenues in any period; the top ten MC customers accounted for a significant portion of MC revenues.
• LEAP program:
  • ASC is the exclusive supplier for LEAP engine fan blades and fan cases under a long-term supply contract. LEAP is used on Airbus A320neo/A321neo, Boeing 737 MAX, and COMAC 919.
  • LEAP-related content peaked historically (2019) at over $210 million.

Global footprint and operations

• MC facilities: Belgium, Brazil, Canada, China, France, Germany, Italy, Mexico, Spain, Sweden, United Kingdom, United States.
• AEC facilities: United States, France, Mexico, Germany.
• Facility space:
  • Total U.S. facility space: ~2.1 million sq ft (1.2 million owned, 0.9 million leased).
  • Non-U.S. facilities: ~4.5 million sq ft (4.0 million owned, 0.5 million leased).
• The company manages trade, currency, and geopolitical risks and addresses sourcing, repatriation of earnings, and protection of intellectual property within its global footprint.

Employees and human capital

• Total employees (year-end 2025): approximately 5,700.
• Workforce profile (12/31/2025): 28.0% female; U.S. headcount ~2,400 with 34.1% self-identifying as a minority.
• Focus areas: safety, diversity, development, and talent retention, supported by multiple leadership and development programs.

Financial and capital structure highlights

• Debt and liquidity:
  • Long-term debt outstanding (12/31/2025): 456,000
  • Revolving credit facility capacity: 800,000; drawn amount at year-end: ~456,000; remaining borrowing capacity: ~344,000.
  • Leverage ratio (as defined by the debt facility): 1.66 to 1.00.
• Research and development:
  • R&D expense: 2025: 48,000; 2024: 46,100; 2023: 40,600.
  • R&D as a percentage of total net revenues in 2025: 4.1%.
• Intellectual property and competitive positioning:
  • Maintains patents, trademarks, trade secrets, and licensing relationships; ongoing investments in 3D weaving and other advanced materials technologies.
• Dividends and share count:
  • The company pays cash dividends subject to board decisions based on financial position, liquidity, regulatory requirements, and debt covenants.
  • Outstanding Class A Common Stock: 28.3 million shares (as of February 19, 2026).

Program and portfolio characteristics

• AEC government/defense exposure:
  • Approximately 35% of AEC revenues in 2025 related to U.S. government contracts or programs.
• Cybersecurity:
  • Achieved DoD Cybersecurity Maturity Model Certification (CMMC) Level 2 in December 2025, with expectations of Level 3 requirements for certain programs in the future.
• New business and technology:
  • Active New Business Ventures group pursuing 3D weaving, resin transfer molding, large-scale flat weaving, and other advanced composites and coatings.

Sustainability and environmental initiatives

• Emissions and energy:
  • Target to reduce Scope 1 and 2 emissions by 50% by 2030; on-site solar projects and renewable energy contracts are in place.
• Waste and circularity:
  • Target of zero waste to landfill by 2030 for the Americas and Europe.
  • Emphasis on circularity, product recycling, end-of-life design, and supplier collaborations for recycling and reuse.

Plain-language snapshot

Albany International Corp. designs, manufactures, and sells engineered fabrics and composite components through two main businesses. MC serves paper manufacturing and other industrial applications with machine clothing and engineered fabrics. AEC supplies advanced composite parts and assemblies for commercial and defense aerospace, including fan and engine components. The company operates globally, serves a diversified customer base with SAFRAN as a major customer in AEC, maintains substantial U.S. government program exposure in AEC, invests in R&D and new technologies, maintains a sizable workforce, and pursues energy, waste, and product lifecycle sustainability initiatives.