Sequana announced unaudited consolidated earnings results for the first quarter of 2018. For the quarter, the company reported sales of €690.3 million against €719.7 million a year ago. EBITDA was €20.7 million against €29.9 million a year ago. Current operating income was €12.5 million against €23.1 million a year ago. The decline in EBITDA was mainly attributable to the negative impact on Arjowiggins' results of sharp increases in raw material prices (pulp) and a deterioration in the product mix, mainly in the Graphic division (laminated paper).