Suominen Corporation Stock Exchange Release 13 September 2018 at 3:15 pm EEST
Suominen decreases its estimate on full-year net sales and operating profit
In its half-year report, disclosed on 3 August 2018, Suominen expected that for the full year 2018, its net sales will improve from 2017 and its comparable operating profit will be at the level of 2017.
Due to slower than expected impacts of the actions taken in the 3P profitability improvement program, as well as the continued increase of raw material prices, Suominen decreases its estimate regarding the net sales and operating profit development. Suominen expects that for the full year 2018, its net sales will be at the level of 2017 and its comparable operating profit will be significantly lower than in 2017.
In 2017, Suominen’s net sales amounted to EUR 426.0 million and operating profit to EUR 15.0 million. In financial year 2017 Suominen had no items affecting the comparability of the operating profit.
Board of Directors
For additional information, please contact:
Tapio Engström, President & CEO (interim), tel. +358 (0)10 214 300
Suominen in brief
Suominen manufactures nonwovens as roll goods for wipes as well as for medical and hygiene products. The end products made of Suominen’s nonwovens – wet wipes, feminine care products and swabs, for instance – bring added value to the daily life of consumers worldwide. Suominen is the global market leader in nonwovens for wipes and employs over 650 people in Europe and in the Americas. Suominen’s net sales in 2017 amounted to EUR 426.0 million and comparable operating profit to EUR 15.0 million. The Suominen share (SUY1V) is listed in Nasdaq Helsinki Stock Exchange (Mid Cap). Read more at www.suominen.fi.