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Suominen revises its outlook: Net sales and comparable operating profit for 2016 expected not to reach the level of 2015

Suominen Corporation   Stock Exchange Release   20 September 2016 at 4:00 pm EEST

Suominen revises its outlook: Net sales and comparable operating profit for 2016 expected not to reach the level of 2015

Suominen expects that for the full year 2016, its net sales and comparable operating profit will not reach the level of year 2015. Earlier, Suominen estimated that for the full year 2016, its net sales and comparable operating profit would improve from year 2015. In 2015, Suominen’s net sales amounted to EUR 444.0 million and comparable operating profit to EUR 31.2 million. The calculation of comparable operating profit equals to the calculation of previously reported operating profit excluding non-recurring items.

“The updated outlook is based on our specified forecast and our view of the market situation. Despite the dip experienced in the first quarter, we expect the sales volumes in tons in full year 2016 to remain at the healthy level of 2015. However, we estimate the sales prices to fall short of those of 2015. The decrease in sales prices is affected by the market prices of the products and the lower price level of raw materials compared to 2015. Exchange rates’ effect on net sales in 2016 is estimated to be minimal,” Nina Kopola, President & CEO, says.

Suominen will publish its interim report for January-September 2016 on Thursday, 27 October 2016 approximately at 8:00 am EEST.

Suominen Corporation
Nina Kopola, President and CEO