SUOMINEN RECORDS A LOSS, BUT A STRONG CASH FLOW
Suominen's comparable result was below that of the previous year, and the whole year result was negative. The financial statements include non-recurring costs resulting from restructuring of operations and impairment charges against goodwill and other assets with no impact on cash flow, to the value of EUR 4.2 million. While the Wiping business area made a loss, the Flexibles business area was slightly in the black. Despite the overall performance, the cash flow from operations was strongly positive, at EUR 18.9 million (2.7).
Suominen Corporation's net sales in 2008 totalled EUR 214.6 million and were on the level of the previous year. Loss after taxes was EUR 7.2 million (-10.1) and earnings per share were EUR -0.31 (-0.43).
The Board of Directors proposes that no dividend be paid for the financial year.