Suominen's operating profit turns positive
Suominen’s operating profit for the three months was positive. The quarter was the first one to include the figures of the Home and Personal business area for the whole reporting period. The acquisition doubled the reported net sales but the comparable pro-forma sales declined compared to the first quarter of 2011. The company has started a large-scale programme to exploit the potential benefits of the integration. It is estimated that the company’s full-year reported net sales will grow and the result after taxes will improve over that of 2011.
President & CEO Nina Kopola:
“We improved our result substantially during the first quarter of the year- we achieved positive operating profit. The operating profit improved in both Wiping and Flexible Packaging segments. Our net sales more than doubled as a result of the acquisition of the Home and Personal division from Ahlstrom Corporation.
Our first priority this year is to continuously improve profitability. This is why we have started an extensive program in Nonwovens in order to attain all the synergy benefits and cost benefits. The target is to achieve cost savings of the order of about two percentage points on net sales.”
During this year we will furthermore focus on creating common ways of working and a common corporate culture.