Suominen's performance remained stable during the second quarter; the cash flow from operations turned positive.
President & CEO Nina Kopola:
During second quarter our development continued in the same direction as in the first quarter. The operating profit before non-recurring items, EUR 2.4 million was close to the number from first quarter EUR 2.7 million. Our result before non-recurring items improved clearly also compared to pro forma numbers from last year.
In June we concluded the codetermination negotiations at Suominen Nonwovens Ltd, which will lead to a reduction of maximum 76 positions. We will concentrate on spunlace production in the Nakkila plant, which means the thermobond nonwovens will cease. By closing down one spunlace line we will be more effective and safeguard our competiveness also in the future.
We are well underway in implementing our savings project and we are assured we can reach our target of about 2 percentage points on net sales.