Suominen Corporation generated net sales of EUR 46.9 million (54.5) in the first quarter. Operating profit was EUR 3.6 million (-0.1), profit before taxes EUR 2.0 million (-1.2) and profit after taxes EUR 1.5 million (-0.9).
Net sales fell by 14 per cent on the previous year. The decrease in sales volumes is presumed to be attributable to a decline in customers' stock levels and a general reduction in consumer demand. The margins for sales improved. The declining trend in raw material prices at the end of 2008 stopped, and the prices partly resumed a slight uptrend. However, due to the delay relating to the raw material clauses, the cost level was more favourable than in the corresponding period in 2008. Suominen's cost-saving and operational enhancement programmes have continued, which brought operating expenses to a substantially lower level than in 2008.