Suominen Oyj

Suominen Corporation's interim report for January to September 2024 indicates that profitability was impacted by operational issues, although the outlook remains unchanged. Key highlights include a 5% increase in net sales for Q3 2024 compared to the same period in 2023, reaching EUR 111.6 million. However, comparable EBITDA decreased to EUR 3.3 million due to unplanned production downtime and additional expenses. For the first nine months, net sales rose by 2% to EUR 343.8 million, with comparable EBITDA improving to EUR 12.8 million, aided by higher sales volumes and lower raw material costs. Cash flow from operations was negative due to increased capital tied to net working capital, particularly inventory. Suominen's sustainability efforts were recognized with a gold rating from EcoVadis, placing them in the top 1% of companies in their industry. The company is investing in sustainable products, with significant projects in Spain and the US. The financial position showed a gearing ratio of 57.1% and an equity ratio of 37.1%. The company expects its comparable EBITDA for 2024 to exceed that of 2023, which was EUR 15.8 million. Despite global economic uncertainties, Suominen sees its target market as stable. The company's AGM approved various financial and governance resolutions, including board member remuneration and share-based incentive plans. Suominen's shares are traded on Nasdaq Helsinki, and they reported a market capitalization of EUR 148.9 million as of September 30, 2024. The report also outlines changes in the executive team and board authorizations for share repurchasing and issuance. Overall, Suominen continues to focus on operational excellence, sustainability, and market responsiveness.

Suominen Corporation announced the appointment of Minna Rouru as Chief People & Communications Officer. She will join the Executive Management Team and report to CEO Tommi Björnman, starting her role by February 2025. Rouru comes from KONE Corporation, where she served as Vice President of People & Communications, Global Functions. She has extensive experience in HR management and change leadership across Asia, America, and Europe. CEO Tommi Björnman expressed confidence in her ability to enhance Suominen's culture and work community. Suominen, a manufacturer of nonwovens, reported net sales of EUR 450.9 million in 2023 and employs nearly 700 people in Europe and the Americas. The company's shares are listed on Nasdaq Helsinki.

Suominen Corporation announced the schedule for its financial reports in 2025. The Financial Statements Release for 2024 will be published on March 5, 2025. The Interim Reports for January–March and January–September 2025 will be released on May 7, 2025, and October 29, 2025, respectively. The Half-Year Financial Report for January–June 2025 will be published on August 7, 2025. The Annual Report for 2024 will be available by the week starting March 31, 2025. The Annual General Meeting is planned for April 25, 2025, with the Board of Directors to summon the meeting later. For more information, contact Julia Koivulanaho, interim Head of Communications. Suominen manufactures nonwovens for wipes and other applications, aiming to lead in innovation and sustainability. In 2023, Suominen’s net sales were EUR 450.9 million, with nearly 700 employees in Europe and the Americas. Its shares are listed on Nasdaq Helsinki.

Suominen Corporation announced on September 3, 2024, that its three largest registered shareholders, Ahlstrom Capital B.V., Etola Group Oy, and Oy Etra Invest Ab, have nominated members to the Shareholders’ Nomination Board. Charles Héaulmé, Chair of Suominen’s Board of Directors, will serve as the fourth member. The shareholders eligible to appoint members were determined based on the registered holdings as of September 2, 2024. The Nomination Board is responsible for preparing proposals on the number, composition, and remuneration of the Board of Directors' members for the Annual General Meeting. These proposals must be submitted to the Board of Directors by February 1. Suominen manufactures nonwovens for various applications and aims to lead in innovation and sustainability. In 2023, the company reported net sales of EUR 450.9 million and employs nearly 700 professionals in Europe and the Americas. Suominen’s shares are listed on Nasdaq Helsinki.

Suominen Corporation announced that Thomas Olsen, EVP Americas, is leaving the company to pursue new opportunities. Markku Koivisto has been appointed as interim EVP, Americas, in addition to his current roles as EVP, EMEA and CTO, effective immediately. The company will begin the process of recruiting a new EVP, Americas. President and CEO Tommi Björnman thanked Thomas Olsen for his contributions. Suominen manufactures nonwovens and had net sales of EUR 450.9 million in 2023, employing nearly 700 professionals in Europe and the Americas. The company's shares are listed on Nasdaq Helsinki.

Suominen Corporation announced on August 9, 2024, that it is investing approximately EUR 20 million in a new production line at its Alicante, Spain site to enhance its capabilities in sustainable products. This investment will increase the company's Card-Pulp-Card (CPC) capacity and aligns with its strategy to be a leader in sustainability. The project, aimed at meeting the growing demand for sustainable nonwovens in Europe, is expected to be completed in the second half of 2025. Suominen manufactures nonwovens for various applications and aims to be at the forefront of innovation and sustainability. The company reported net sales of EUR 450.9 million in 2023 and employs nearly 700 professionals in Europe and the Americas. Its shares are listed on Nasdaq Helsinki.

Suominen Corporation's Half-Year Financial Report for January 1 – June 30, 2024, shows a gradual improvement. Key figures include a 5% increase in net sales to EUR 118.7 million for April–June 2024, and a comparable EBITDA increase to EUR 5.0 million. For the first half of 2024, net sales were EUR 232.3 million, with a comparable EBITDA of EUR 9.5 million. The company expects a rise in comparable EBITDA for 2024 compared to EUR 15.8 million in 2023. President & CEO Tommi Björnman highlighted increased sales volumes, improved sales margins, and ongoing investments in sustainable products. The restructuring program initiated in May aims to reposition Suominen for profitable growth, expecting annual savings of EUR 1.5 million. Financial performance showed an improved EBITDA despite lower sales prices, driven by higher volumes and lower raw material costs. Cash flow from operations was EUR -0.1 million for the first half of the year. The company extended its EUR 100 million credit facility to July 2026 and plans further investments in sustainable product capabilities. Suominen's sustainability efforts focus on safety, employee engagement, and reducing environmental impact, aiming for significant reductions in energy consumption, emissions, and waste by 2025. The AGM held on April 4, 2024, approved financial statements, remuneration policies, and authorized share repurchases. The Board of Directors saw some re-elections and new appointments, and Ernst & Young Oy was re-elected as the auditor. No significant events occurred post-reporting period. Suominen will publish its next financial report on November 6, 2024. The company’s shares are listed on Nasdaq Helsinki.

Suominen Corporation has transferred 9,556 treasury shares to its President & CEO, Tommi Björnman, as part of a share-based incentive plan. This decision follows the authorization granted by the Annual General Meeting of Shareholders on April 4, 2024. After the transfer, Suominen holds 532,116 treasury shares. The company, which manufactures nonwovens, reported net sales of EUR 450.9 million in 2023 and employs nearly 700 professionals in Europe and the Americas. Suominen's shares are listed on Nasdaq Helsinki.

Suominen Corporation announced a restructuring program aimed at achieving profitable growth, expected to save EUR 1.5 million annually at a one-time cost of EUR 2 million. The program, to be completed by September 2024, will result in the termination of up to 10 positions in headquarters and global support functions, with full impact in 2025. This initiative is part of Suominen's ongoing transformation to enhance efficiency and agility. Additionally, EVP of HR & Legal, Klaus Korhonen, will leave the company. Suominen manufactures nonwovens and aims to lead in innovation and sustainability, with net sales of EUR 450.9 million in 2023 and nearly 700 employees.

The Suominen Corporation has corrected the number of shares transferred on May 16, 2024, to 25,088, from an originally stated 25,090. The correct number of treasury shares held by the company after the transfer is 541,672, not the previously stated 541,670. The shares were transferred to the Board of Directors as part of their remuneration, with 25% of the annual remuneration being paid in company shares. The decisions were made at Suominen's Annual General Meeting on April 4, 2024. Suominen is a manufacturer of nonwovens for wipes and other applications, with net sales of EUR 450.9 million in 2023.