Suominen returns to growth track in Q1 2017

"Consumer confidence remained strong in the beginning of 2017. In the United States, the consumer confidence index rose to its highest level since 2001. In the Euro zone, the consumer confidence index also continued to rise. Nonwovens manufactured by Suominen are used mainly in daily consumer goods, which means the development of demand is affected by both the general economic situation and consumer confidence. North America and Europe are Suominen’s main market areas," said Nina Kopola, president & CEO of Suominen.

"We are very pleased to see that Suominen returned to a growth track in the first quarter. The company’s net sales grew to €112.9 million. While demand improved from the comparison period as we expected, the competitive situation remained tight, especially in nonwovens for baby wipes and flushables. Most of the sales growth was generated by increased volumes and we were able to improve our market share. Moreover, our operating profit increased from the comparison period and amounted to €6.3 million. The profit for the reporting period grew to €4.2 million. Suominen’s cash flow from operations remained at a healthy level," added Kopola.

Suominen is heading towards a new strategy period and has also disclosed its highlights of the upcoming strategy extending to year 2021. To increase the share of high value-added products in its portfolio, the company has also launched several new high value-added products in the market. Along with the strategy, Suominen also revised its vision to reflect the change-making approach. Our new vision is: "We change the way people think about nonwovens." The vision describes our aspiration not only to delight customers with our innovations, but also to elevate the overall perception of the role of nonwovens in society. We continue to increase the share of products with high value-add in our portfolio," Kopola said. (RR)

Fibre2Fashion News Desk – India