Suominen publishes figures and launches a cost saving programme

Net sales rose 3.4% to EUR 117.5 million (Q1 2024: EUR 113.6 million), supported by “higher raw material prices, improved sales mix and strong commercial execution,” according to President & CEO Tommi Björnman. Comparable EBITDA declined to EUR 4.1 million (4.5), and the company posted a loss of EUR 2.2 million.

“The market remained volatile… making for a challenging start to the year,” Björnman said. “Global supply chains are being impacted by geopolitical uncertainty… Despite a decline in consumer confidence, demand… remained stable.”

Although volumes were lower, price increases and currency effects drove revenue. “Notably, 27% of our net sales… came from new products launched in the last three years.”

Suominen also introduced a global cost-saving programme. "We are launching a cost saving program to address our structural costs across operations and global functions to secure profitable growth. This is a necessary step to improve our competitiveness and profitability, as we continue investing in innovation and sustainability, collaborating closely with our customers," Björnman stated.

The programme may affect up to 60 positions globally, subject to local consultation.

On sustainability, Björnman reaffirmed its central role: “Sustainability is integral to our strategy… We are committed to being the frontrunner in sustainable nonwovens and our innovation work is strongly focused on developing more sustainable nonwoven solutions…”

Looking ahead, Suominen expects its 2025 comparable EBITDA to improve from EUR 17.0 million in 2024, despite continuing geopolitical and economic uncertainties.