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Suominen Announces Results

Half year sales, earnings remained flat

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By: Karen McIntyre

Editor, Nonwovens Industry

Suominen Corporation has reported its results for the quarter and half year ended June 30,2033. For the quarter, net sales decreased by 4.5% to €112.7 million ($118 million), while comparable EBITDA increased to €2.7 million ($1.9 million.) For the first six months, new sales remained inline with the previous year, amounting to €229.5 million ($228.3 million). EBITDA was also comparable

“The second quarter of 2023 continued to be challenging for Suominen. Our net sales were €112.7 million ($118 million) in the second quarter,” says Tommi Björnman, president & CEO. “Sales volumes were slightly higher compared to the comparison period but sales prices decreased following lower raw material prices.”

Suominen continues to identify and implement actions to improve its financial performance. As part of our improvement actions, the company started in January the consultation procedure to permanently close manufacturing at our Mozzate plant in Italy. The consultation procedure was concluded and the production at Mozzate ended in April 2023. We continue our actions to improve operational efficiency in our other plants.

Meanwhile, Suominen’s investment project in Nakkila, Finland, to strengthen our capabilities in sustainable products by enhancing and upgrading one of the production lines, is proceeding as planned and the project will be completed in the second half of 2023.
Suominen’s strong reputation in the market and comprehensive sustainable product portfolio gives us a solid platform to implement our strategy and further strengthen customer collaboration. Innovation is at the core of our strategy and the sales of new products continued strong, representing over 35% of net sales.

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