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2021-10-28

Suominen Corporation’s Interim Report for January 1–September 30, 2021: Q3 volumes low as expected, recovery already ongoing

Suominen Corporation Interim Report         October 28, 2021 at 9:30 a.m. (EET)

Suominen Corporation’s Interim Report for January 1–September 30, 2021:

Q3 volumes low as expected, recovery already ongoing

KEY FIGURES

 7-9/7-9/1-9/1-9/1-12/
 20212020202120202020
Net sales, EUR million98.7115.4327.6347.8458.9
Comparable EBITDA4.218.138.147.460.9
Comparable EBITDA, %4.315.711.613.613.3
EBITDA4.218.138.147.460.9
Operating profit, EUR million-0.812.923.131.039.5
Operating profit, %-0.911.27.08.98.6
Profit for the period, EUR million-1.710.918.222.830.1
Cash flow from operations, EUR million-8.920.18.239.157.0
Cash flow from operations per share, EUR-0.160.350.140.680.99
Earnings per share, basic, EUR-0.030.190.320.400.52
Return on invested capital, rolling 12 months, %11.813.816.7
Gearing, %30.229.925.4



In this interim report, figures shown in brackets refer to the comparison period last year if not otherwise stated.

July–September 2021 in brief:

- Net sales decreased 14.5% from the corresponding period of 2020 and were EUR 98.7 million (115.4)
- Comparable EBITDA decreased to EUR 4.2 million (18.1)
- Cash flow from operations declined and was EUR -8.9 million (20.1)

January–September 2021 in brief:

- Net sales decreased 5.8% and were EUR 327.6 million (347.8)
- Comparable EBITDA decreased to EUR 38.1 million (47.4)
- Cash flow from operations declined and was EUR 8.2 million (39.1)

Outlook for 2021

Suominen repeats its outlook for 2021 but in light of the volatility of the markets and Suominen’s results, gives further detail on the outlook.

Suominen expects that its comparable EBITDA (earnings before interest, taxes, depreciation and amortization) in 2021 will decrease from 2020 due to the slowdown in the demand for nonwovens in the second half of 2021 as well as some continuing volatility in the raw material and transportation markets and will amount to EUR 47–53 million. In 2020, Suominen’s comparable EBITDA was EUR 60.9 million.

Petri Hels...

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