Suominen revises its outlook: Net sales and comparable operating profit for 2016 expected not to reach the level of 2015

Helsinki, Finland, 2016-09-20 15:00 CEST (GLOBE NEWSWIRE) -- Suominen Corporation   Stock Exchange Release   20 September 2016 at 4:00 pm EEST

Suominen revises its outlook: Net sales and comparable operating profit for 2016 expected not to reach the level of 2015

Suominen expects that for the full year 2016, its net sales and comparable operating profit will not reach the level of year 2015. Earlier, Suominen estimated that for the full year 2016, its net sales and comparable operating profit would improve from year 2015. In 2015, Suominen’s net sales amounted to EUR 444.0 million and comparable operating profit to EUR 31.2 million. The calculation of comparable operating profit equals to the calculation of previously reported operating profit excluding non-recurring items.

“The updated outlook is based on our specified forecast and our view of the market situation. Despite the dip experienced in the first quarter, we expect the sales volumes in tons in full year 2016 to remain at the healthy level of 2015. However, we estimate the sales prices to fall short of those of 2015. The decrease in sales prices is affected by the market prices of the products and the lower price level of raw materials compared to 2015. Exchange rates’ effect on net sales in 2016 is estimated to be minimal,” Nina Kopola, President & CEO, says.

Suominen will publish its interim report for January-September 2016 on Thursday, 27 October 2016 approximately at 8:00 am EEST.

Suominen Corporation
Nina Kopola, President and CEO

For additional information, please contact
Nina Kopola, President & CEO, tel. +358 10 214 300

Distribution:
NASDAQ Helsinki
Main media

www.suominen.fi

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 600 people in Europe and in the Americas. Suominen’s net sales in 2015 amounted to EUR 444.0 million and comparable operating profit to EUR 31.2 million. The Suominen share (SUY1V) is listed in Nasdaq Helsinki Stock Exchange (Mid Cap). Read more at
www.suominen.fi.

Distribution:
Nasdaq Helsinki
Key media

www.suominen.fi

Latest news

Directors and Officers, European Regulatory News
STOCK EXCHANGE RELEASE November 30, 2022

President & CEO of Suominen Corporation changes

Calendar of Events, European Regulatory News
STOCK EXCHANGE RELEASE September 13, 2022

Suominen’s financial reporting in 2023