Home / News / Q3 sales drive up 11.3% at nonwoven fabrics maker Suominen
Q3 sales drive up 11.3% at nonwoven fabrics maker Suominen
Net sales at Finnish nonwovens fabrics producer Suominen drove up 11.3 per cent and amounted to €114.9 million in the third quarter ended September 30, 2015 as against €103.3 million in the year ago period.
In a press release, the company said its operating profit excluding non-recurring items too increased 12.1 per cent year on year to €9.8 million.
Profit as well as earnings per share for the reporting quarter continued at the strong level of the second quarter and stood at €5.4 million and €0.02, respectively.
Suominen informed that its investment in a new wetlaid line at the Bethune plant in SC, US, is progressing as planned and that the total value of the investment will be close to €50 million.
The new production line will be based on its unique nonwovens technology expertise, enabling it to supply best-in-class nonwoven products for wiping, medical and hygiene applications.
Suominen has also decided to extend its growth investment program for the strategic period of 2015–2017 to approximately €60 million due to the promising growth prospects in high value added nonwovens.
The company expects that for the full year 2015, operating profit from continuing operations excluding non-recurring items will improve markedly from year 2014.
In case of net sales, Suominen stated that its previous estimate for the full year 2015 stands unchanged.
Suominen's net sales from continuing operations in 2014 totaled to €401.8 million and operating profit excluding non-recurring items was €26.9 million.
CEO Nina Kopola said, “In the Euro area, the consumer confidence index decreased slightly in the third quarter but was still on a significantly higher level than at the beginning of the year.”
“While, in the United States, the consumer confidence index increased somewhat with North America and Europe remaining as Suominen's largest market areas,” she added.
“So far, I am very pleased with Suominen's development in 2015 and feel confident also about the final quarter of the year,” Kopola stated. (AR)