Negative result for Suominen in Q1 2010
Suominen Corporation generated net sales of EUR 40.6 million (46.9) in the first quarter. Operating profit was EUR -0.3 million (3.6), profit before taxes EUR -1.5 million (2.0) and profit after taxes EUR -1.1 million (1.5).
Net sales fell by 14 per cent compared to the first quarter of the previous year. Reasons behind the decrease were the decline in the prices of wet wipes and in the delivery volumes of nonwovens.
The result was negative and effected by the above-mentioned decline in net sales as well as the rise in raw material and energy costs. The cost increases are passed on to sales prices with a delay. During the 2009 corresponding period, raw material prices were on a low level.
Investments still remained on a low level. The stock of finished products increased as they were built up to meet demand later in spring.