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Suominen Corporation:Net sales grew, profitability declined, cash flow from operations remained strong

Suominen Corporation Financial Statement Release 31 January 2019 at 8:00 am (EET)

Suominen Corporation’s Financial Statement Release for 1 Jan–31 Dec 2018: Net sales grew, profitability declined, cash flow from operations remained strong

 

Key figures

 

10-12/

10-12/

1-12/

1-12/

 

2018

2017

2018

2017

Net sales, EUR million

109.8

98.7

431.1

426.0

Comparable operating profit, EUR million

-0.4

-0.3

4.6

15.0

Operating profit, EUR million

-0.4

-0.3

4.6

15.0

Profit for the period, EUR million

-2.0

6.3

-1.7

14.5

Earnings per share, basic, EUR

-0.04

0.12

-0.03

0.27

Earnings per share, diluted, EUR

-0.04

0.11

-0.03

0.25

Cash flow from operations per share, EUR

0.15

0.04

0.56

0.39

Return on invested capital, rolling 12 months, %

2.3

6.6

Gearing, %

54.2

59.5

Distribution of funds per share, EUR *

   

0.11

 

Highlights in October–December 2018:

- Net sales increased by 11.2% and were EUR 109.8 million (98.7).
- Operating profit fell to EUR -0.4 million (-0.3).
- Suominen conducted successful trials at the new manufacturing line at Bethune, US plant related with the planned extension of the line’s product offering.
- Petri Helsky was appointed Suominen’s President & CEO and he started with the company on 7 January 2019.

 

- Suominen expects that in 2019, its net sales will be at the level of 2018 and comparable operating profit, excluding the positive effect of applying IFRS 16 Leases, will improve from 2018. In 2018, Suominen’s net sales amounted to EUR 431.1 million and operating profit to EUR 4.6 million. In financial years 2018 and 2017 Suominen had no items affecting the comparability of the operating profit. The calculation of comparable operating profit is explained in the disclosures of this release.

- The Board of Directors proposes that no dividend will be distributed and no capital will be returned from the reserve for invested unrestricted equity for the financial year 2018.

  

 

Click to open the full Financial Statement report (pdf)