Suominen Corporation Interim Report 1 January - 30 September 2008

SUOMINEN CORPORATION      INTERIM REPORT 22 OCTOBER 2008 AT 8.30 A.M.           


INTERIM REPORT 1 JANUARY - 30 SEPTEMBER 2008                                    


SUOMINEN'S RESULT ON LOSS, POSITIVE CASH FLOW                                   


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| KEY FIGURES         | 7-9/2008 | 7-9/2007 | 1-9/2008 |  1-9/2007 | 1-12/2007 |
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| Net sales, EUR      |     55.2 |     55.7 |    164.8 |     161.2 |     215.2 |
| million             |          |          |          |           |           |
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| Operating profit    |     -0.8 |      0.5 |     -0.3 |       2.2 |       1.7 |
| before goodwill     |          |          |          |           |           |
| amortisation, EUR   |          |          |          |           |           |
| million             |          |          |          |           |           |
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| Operating profit,   |     -0.8 |      0.5 |     -0.3 |       2.2 |      -6.8 |
| EUR million         |          |          |          |           |           |
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| Profit/loss for the |     -1.5 |     -0.3 |     -2.9 |      -0.4 |     -10.1 |
| period, EUR million |          |          |          |           |           |
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| Earnings/share, EUR |    -0.06 |    -0.01 |    -0.12 |     -0.02 |     -0.43 |
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| Cash flow from      |     0.38 |     0.05 |     0.51 |      0.15 |      0.12 |
| operations/share,   |          |          |          |           |           |
| EUR                 |          |          |          |           |           |
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Outlook: Suominen's net sales for 2008 are expected to be on the level of 2007. 
The underlying operating profit is expected to be on the level of the previous  
year at best and the whole year result is expected to be negative.              


GROUP FINANCIAL RESULTS                                                         

Suominen Corporation's net sales for the third quarter totalled EUR 55.2 million
(55.7). Operating profit was EUR -0.8 million (0.5), profit before taxes EUR    
-2.0 million (-0.5) and profit after taxes EUR -1.5 million (-0.3).             

Net sales for the nine-month period totalled EUR 164.8 million (161.2).         
Operating profit was EUR -0.3 million (2.2), profit before taxes EUR -3.8       
million (-0.6) and profit after taxes EUR -2.9 million (-0.4).                  

The strong fluctuations in raw material prices continued, especially in the     
prices of oil-based raw materials used for flexible packaging. The quoted prices
for supplies for the summer period reached a record high level, but during the  
autumn the prices have decreased. The costs of increased raw material prices    
that were not compensated by higher sales prices during the period under review 
exceeded those of the previous year by EUR 2 million. Reduced volumes and stocks
as well as lower prices have weakened the operating profit by some EUR 3 million
on the corresponding period in 2007. Energy and payroll costs increased by some 
EUR 2 million. The Company's operational enhancement programme has generated EUR
4.5 million since the previous year.                                            


Cost-saving and operational enhancement programme                               

Suominen's Stairs to Top programme extending over a number of years under way   
covers both operational development and continuous improvement, as well an      
updated customer offering.                                                      

During the period under review, efficiency-enhancement measures continued to    
focus on cost savings. Lower volumes than planned and the unfavourable          
development of wastage took their toll on the benefits gained from the          
continuous improvement of operations. The sales and product offering programmes 
promoted new sales, however, not to the extent targeted.                        

The measures for 2008 included in the enhancement programmes to reduce the      
working capital and strengthen the cash flow are reflected in the stronger cash 
flow from operations.                                                           


Financing                                                                       

Interest-bearing liabilities totalled EUR 91.2 million including capital loan of
EUR 10 million issued in the spring. Repayments of non-current loans were EUR   
10.9 million and net deduction of current loans was EUR 7.4 million. Net        
financial expenses were EUR 3.5 million (2.9) or 2.2 per cent (1.8) of net      
sales. A total of EUR 6.0 million was released in working capital. The equity   
ratio was 27.2 per cent (30.4). When the capital loans are included in          
shareholders' equity, the equity ratio was 33.4 per cent (31.5) and the ratio of
liabilities to shareholders' equity 146.0 per cent (161.1). Cash flow from      
operations was EUR 0.51 per share (0.15).                                       


Investments                                                                     

The Company's gross investments in production totalled EUR 3.5 million (9.6).   
Planned depreciation amounted to EUR 9.6 million (10.4). Wet Wipes accounted for
EUR 0.5 million (2.3), Nonwovens EUR 1.3 million (1.5) and Flexible Packaging   
EUR 1.6 million (5.8) of total investments. Investments were replacement and    
maintenance investments.                                                        


SEGMENT RESULTS                                                                 

During the period under review, net sales of the Wipes and Nonwovens business   
area totalled EUR 108.2 million, an increase of 5 per cent on the corresponding 
period in 2007. The business area's operating profit was EUR -0.3 million (0.4).

Net sales of Wet Wipes totalled EUR 55.4 million, an increase of 8 per cent on  
the previous year. Delivery volumes grew in personal care and moist toilet      
wipes. In baby wipes, deliveries were on the level of the previous year. Average
sales prices continued to fall as expected, partly also due to changes in the   
sales mix. Despite the clear growth in volumes, the targets set for increasing  
sales to new customers and our own new product applications were not met.       

The stock of finished products that was increased for the summer period was     
reduced in August, and production during the third quarter was lower than sales.
Despite this, the efficiency of operations developed positively and cost-saving 
measures were continued. Additional measures to improve specific profitability  
were launched in the business unit. Local employee negotiations regarding head  
count reduction were started.                                                   

Net sales of Nonwovens increased by 4 per cent to EUR 60.8 million. Deliveries  
of thermobonded material for hygiene products increased. In hydroentangled      
nonwovens, the focus of sales shifted to Europe. There was an increase in       
internal deliveries. Average sales prices were slightly higher than those of the
corresponding period in 2007.                                                   

It was not possible to compensate the high raw material prices in the sales     
prices in full. Measures to improve the efficiency of production continued, but 
the change made in the production line late in the summer increased the amount  
of reject on the line during the period under review. The poorly profitable     
production of pulp-based nonwoven for wipes was terminated during the third     
quarter. At the end of the period under review, employee negotiations of        
temporary lay-off of 20 days concerning the entire personnel of the unit were   
started due to the low estimated demand during the rest of the year.            

Net sales of Flexible Packaging totalled EUR 57.1 million (58.1) and operating  
profit EUR 0.4 million (2.2). Net sales decreased slightly from the previous    
year due to the decrease in volumes of hygiene packaging. Deliveries of food    
packaging were on the level of the previous year. In retail sector, there were  
no changes in the deliveries of carrier bags. Sales of system and security      
packaging experienced a lower season, but the product area strengthened its     
order book at the end of the period.                                            

The prices for plastic raw materials and therefore also prices for plastics were
determined in July for the third quarter at a high level. For this reason,      
Flexible Packaging conducted sales price negotiations with a range of its       
customers during the summer. However, the most of the agreed price increases    
have been effective since the end of the period. The stock of finished products 
that was increased during the summer as planned was reduced. Production at the  
Polish plant increased by more than 15 per cent due to the investment in the    
printing machine made in 2007. The head count reduction in the business area    
since the beginning of 2008 is 35 people.                                       


SHARE CAPITAL AND SHARES                                                        

Share trading and price                                                         

The number of Suominen Corporation's shares traded on the NASDAQ OMX Helsinki   
from 1 January to 30 September 2008 was 1 339 689 shares or 5.7 per cent of the 
shares included in the Company's share capital. The trading price varied from   
EUR 1.38 to EUR 2.25. The final trading price was EUR 1.51, giving the Company a
market capitalisation of EUR 35.8 million on 30 September 2008.                 


Share capital                                                                   

The registered number of issued shares of Suominen totals 23,720,112 shares or  
EUR 11,860,056. There were no changes in share capital during the period under  
review.                                                                         


The Company's own shares                                                        

On 1 January 2008, the Company held 36,343 of its own shares, with an           
acquisition value of EUR 3.19 per share.                                        

The Annual General Meeting of Shareholders held on 27 March 2008 authorised the 
Board of Directors to decide on the acquisition of a maximum of 1,186,000 of the
Company's own shares. The authorisation will be valid for 18 months after the   
decision of the General Meeting. The repurchased shares will be used as payment 
in business acquisitions or other arrangements in the Company's business, to    
finance investments, to implement incentive programmes, will be held by the     
Company, or will be otherwise conveyed or cancelled. The Company's own shares   
will be repurchased otherwise than in proportion to the holdings of the         
shareholders by using non-restricted equity through public trading on the NASDAQ
OMX Helsinki at the market price prevailing at the time of acquisition.         

The General Meeting also authorised the Board of Directors to decide on the     
conveyance of a maximum of 1,222,000 of the Company's own shares. The           
authorisation will be valid for 18 months after the end of the General Meeting. 
Within the authorisation the Company has conveyed 31,286 of its own shares as   
emoluments to the Board of Directors in the period under review. The price of   
the conveyed shares was EUR 1.63 per share.                                     

During the period under review, the Board of Directors did not exercise its     
authorities to buy the Company's own shares. On 30 September 2008, Suominen     
Corporation held a total of 5,057 of its own shares, accounting for 0.0 per cent
of the share capital and votes.                                                 


Stock options 2006 and 2007                                                     

Under stock option plan 2006, a maximum of 300,000 stock options shall be issued
to the President and CEO of Suominen Corporation as specified by the Board of   
Directors. Each stock option entitles its holder to subscribe for one Suominen  
Corporation's share with an equivalent book value of EUR 0.50. According to the 
2006C stock option plan a total of 100,000 stock options has been issued in the 
period under review. The share subscription price for the stock options is the  
trade volume-weighted average price of the Company share on the NASDAQ OMX      
Helsinki in May 2008 or EUR 1.66. The subscription period for the 2006C stock   
options is from 2 May 2010 to 30 October 2011.                                  

Under stock option plan 2007, a maximum of 200,000 stock options shall be issued
to the Executive Team of Suominen Corporation as specified by the Board of      
Directors. Each stock option entitles its holder to subscribe for one Suominen  
Corporation's share with an equivalent book value of EUR 0.50. During the period
under review, a total of 35,000 stock options has been issued according to the  
2007A stock option plan, and a total of 60,000 stock options according to the   
2007B stock option plan. The share subscription price for the 2007A stock       
options is the trade volume-weighted average price of the Company share on the  
NASDAQ OMX Helsinki in May 2007 or EUR 3.44. The share subscription price for   
the 2007B stock options is the trade volume-weighted average price of the       
Company share on the NASDAQ OMX Helsinki in May 2008 or EUR 1.66. The           
subscription period for the 2007A stock options is from 2 May 2009 to 30 October
2010, and for the 2007B stock options from 2 May 2010 to 30 October 2011.       

As the registered number of Suominen's issued shares totals 23,720,112, the     
number of shares may rise to a maximum of 24,220,112 after stock option         
subscriptions.                                                                  


Other authorisation for the board of directors                                  

The Board of Directors is not currently authorised to issue shares, convertible 
bonds or bonds with warrants.                                                   


ORGANISATION AND PERSONNEL                                                      

Mikko Pellinen, the new Vice President and General Manager of Flexible          
Packaging, started on 1 October 2008. He is also a member of the Corporate      
Executive Team.                                                                 

Suominen's personnel has been reduced by some 50 people since the beginning of  
2008. In addition, the implementation of the profitability programme started in 
Wet Wipes may result in further reductions later in 2008.                       


OUTLOOK                                                                         

The global financial crisis and the expected slowing down of economic growth    
will probably affect consumer demand in Europe. However, consumption in         
Suominen's main product groups is expected to remain more stable than the global
consumer demand.                                                                

The focus of Suominen's operations is on securing improvement in profitability, 
cash flow and capital structure. The ongoing cost-saving and                    
efficiency-enhancement programme is expected to improve Suominen's              
competitiveness. The price fluctuations of Suominen's main raw materials have   
been significant during the year. However, prices for oil-based raw materials   
have decreased during the autumn. The price of energy has remained high and     
payroll costs have continued to increase.                                       

Suominen's net sales for 2008 are expected to be on the level of 2007. The      
underlying operating profit is expected to be on the level of the previous year 
at best and the whole year result is expected to be negative.                   


NEAR-FUTURE UNCERTAINTIES                                                       

The estimate concerning the development of Suominen's net sales is based in part
on forecasts and action plans provided by the Group's customers. Changes in     
these forecasts and plans resulting from changes in the market situation or     
changes in customers' inventory levels could affect Suominen's sales. Due to the
uncertain global economic situation, the forecasts are more vulnerable to risks 
than before.                                                                    

Nonwovens and Flexible Packaging purchase oil-based raw materials to the value  
of some EUR 50 million annually. In addition, significant amounts of viscose,   
printing inks, and solvents are also purchased. Rapid fluctuations in the world 
market prices of raw materials affect Suominen's margins.                       

Suominen's cost-saving and operational enhancement efforts are focused on areas 
such as improving yield, increasing machine speeds, and reducing changeover     
time. The benefits of these efforts will be most evident if production volumes  
will increase. Delays in the implementation of measures or their failure would  
have a negative impact on the Company's result. The possible personnel          
reductions at the end of the year may cause non-recurring costs arising from    
personnel costs for the notice period.                                          

The sensitivity of Suominen's group goodwill and possible changes in the general
assumptions are described in the notes to the financial statements for 2007.    
Suominen's business risks are described in the report of the Board of Directors 
for 2007. The uncertainty of the financial markets has increased, and a         
significant amount of Suominen's loan instalments are scheduled to be paid in   
2009. The Company has started negotiations with the banks about refinancing.    
These are expected to be completed by the end of the year.                      


SUOMINEN CORPORATION CONSOLIDATED 1 JANUARY - 30 SEPTEMBER 2008                 

This interim report has been prepared in compliance with IAS 34 Interim         
Financial Reporting. Principles for preparing the interim report are the same as
those used for preparing the financial statements for 2007, and this interim    
report should be read parallel to the financial statements for 2007. Amendments 
to and interpretations of published accounting standards and new accounting     
standards that came into effect on 1 January 2008 are presented in the financial
statements for 2007. The Company complies with the interpretation of IFRIC 10   
Interim Financial Reporting and Impairment, which prohibits, for example, the   
reversal of impairment losses recognised for goodwill during previous interim   
periods. In its principles for preparing the financial statements, Suominen has 
not applied any changes allowed by the published new standards and              
interpretations prior to their official introduction. The most important reform 
known concerns segment reporting, on which the standard will enter into force on
1 January 2009.                                                                 

The figures in this interim report have not been audited.                       


STATEMENT OF INCOME                                                             
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| EUR 1 000                |    7-9/ |    7-9/ |    1-9/ |     1-9/ |    1-12/ |
|                          |    2008 |    2007 |    2008 |     2007 |     2007 |
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| NET SALES                |  55 151 |  55 701 | 164 781 |  161 173 |  215 245 |
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| Cost of goods sold       | -53 174 | -52 541 |-156 659 | -150 891 | -202 738 |
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| GROSS PROFIT             |   1 977 |   3 160 |   8 122 |   10 282 |   12 507 |
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| Other operating income   |      15 |     234 |     525 |    1 054 |    1 438 |
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| Sales and marketing      |    -835 |    -913 |  -2 470 |   -2 925 |   -3 643 |
| expenses                 |         |         |         |          |          |
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| Research and development |    -503 |    -487 |  -1 565 |   -1 443 |   -2 121 |
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| Administration expenses  |  -1 379 |  -1 473 |  -4 825 |   -4 613 |   -6 300 |
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| Other operating expenses |     -40 |      24 |     -59 |     -106 |     -228 |
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| OPERATING PROFIT BEFORE  |    -765 |     545 |    -272 |    2 249 |    1 653 |
| GOODWILL AMORTISATION    |         |         |         |          |          |
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| Goodwill amortisation    |         |         |         |          |   -8 430 |
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| OPERATING PROFIT         |    -765 |     545 |    -272 |    2 249 |   -6 777 |
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| Interest and other       |  -1 260 |  -1 047 |  -3 544 |   -2 891 |   -3 922 |
| financial income and     |         |         |         |          |          |
| expenses                 |         |         |         |          |          |
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| Fair value gains and     |         |       1 |         |        9 |        4 |
| losses                   |         |         |         |          |          |
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| PROFIT BEFORE INCOME     | - 2 025 |    -501 |  -3 816 |     -633 |  -10 695 |
| TAXES                    |         |         |         |          |          |
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| Income taxes             |     500 |     152 |     964 |      185 |      564 |
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| PROFIT/LOSS FOR THE      |  -1 525 |    -349 |  -2 852 |     -448 |  -10 131 |
| PERIOD                   |         |         |         |          |          |
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| Earnings/share, EUR      |   -0.06 |   -0.01 |   -0.12 |    -0.02 |    -0.43 |
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KEY FIGURES ON STATEMENT OF INCOME                                              
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|                          |    7-9/ |    7-9/ |    1-9/ |     1-9/ |    1-12/ |
|                          |    2008 |    2007 |    2008 |     2007 |     2007 |
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| Net sales, change, % *   |    -1,0 |         |     2,2 |          |          |
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| Gross profit, % **       |     3,6 |     5,7 |     4,9 |      6.4 |      5.8 |
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| Operating profit, % **   |    -1,4 |     1,0 |    -0,2 |      1.4 |     -3.1 |
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| Financial income and     |    -2,3 |    -1,9 |    -2,2 |     -1.8 |     -1.8 |
| expenses, % **           |         |         |         |          |          |
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| Profit before income     |    -3,7 |    -0,9 |    -2,3 |     -0.4 |     -5.0 |
| taxes, % **              |         |         |         |          |          |
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| Profit for the period, % |    -2,8 |    -0,6 |    -1,7 |     -0.3 |     -4.7 |
| **                       |         |         |         |          |          |
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*  Compared with the corresponding period of the previous year.                 
** As of net sales.                                                             


BALANCE SHEET                                                                   
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| EUR 1 000                               |    9/2008 |    9/2007 |    12/2007 |
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| ASSETS                                  |           |           |            |
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| Non-current assets                      |           |           |            |
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| Goodwill                                |    25 604 |    34 034 |     25 604 |
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| Intangible non-current assets           |       895 |       864 |        942 |
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| Tangible non-current assets             |    68 767 |    75 617 |     74 083 |
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| Available-for-sale financial assets     |       712 |       716 |        712 |
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| Held-to-maturity investments            |       100 |       100 |        100 |
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| Deferred tax assets                     |       469 |       880 |        688 |
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| Non-current assets, total               |    96 546 |   112 211 |    102 129 |
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| Current assets                          |           |           |            |
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| Inventories                             |    27 224 |    29 327 |     30 765 |
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| Trade receivables                       |    28 272 |    27 365 |     28 718 |
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| Other current receivables               |     5 139 |     9 899 |      8 873 |
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| Income tax receivables                  |       828 |     1 511 |        841 |
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| Cash at bank and in hand                |     2 053 |     1 664 |      1 094 |
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| Current assets, total                   |    63 515 |    69 766 |     70 291 |
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| Assets, total                           |   160 061 |   181 977 |    172 420 |
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| SHAREHOLDERS' EQUITY AND LIABILITIES    |           |           |            |
--------------------------------------------------------------------------------
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| Shareholders' equity                    |           |           |            |
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| Share capital                           |    11 860 |    11 860 |     11 860 |
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| Share premium account                   |    24 681 |    24 681 |     24 681 |
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| Fair value and other reserves           |     1 513 |     1 455 |      1 661 |
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| Translation differences                 |     1 452 |       758 |      1 202 |
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| Other shareholders' equity              |     3 981 |    16 487 |      6 903 |
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| Shareholders' equity, total             |    43 487 |    55 241 |     46 307 |
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| Liabilities                             |           |           |            |
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| Non-current liabilities                 |           |           |            |
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| Deferred tax liabilities                |     5 026 |     5 977 |      5 848 |
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| Pension liabilities                     |           |       235 |            |
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| Provisions                              |           |        85 |            |
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| Capital loans                           |     8 000 |           |            |
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| Interest-bearing liabilities            |    41 896 |    64 561 |     62 186 |
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| Other non-current liabilities           |           |        12 |            |
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| Non-current liabilities, total          |    54 922 |    70 870 |     68 034 |
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| Current liabilities                     |           |           |            |
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| Interest-bearing liabilities            |    39 258 |    30 716 |     34 933 |
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| Provisions                              |           |       115 |        100 |
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| Capital loans                           |     2 000 |     2 000 |      2 000 |
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| Income tax liabilities                  |       274 |     1 333 |            |
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| Trade payables and other current        |    20 120 |    21 702 |     21 046 |
| liabilities                             |           |           |            |
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| Current liabilities, total              |    61 652 |    55 866 |     58 079 |
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| Liabilities, total                      |   116 574 |   126 736 |    126 113 |
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| Shareholders' equity and liabilities,   |   160 061 |   181 977 |    172 420 |
| total                                   |           |           |            |
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STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY                                    

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| EUR 1 000|  Share |  Share|   Own | Trans-|  Fair |Actuar- |    Re- |  Total |
|          |capital |premium|shares |lation | value |    ial | tained |        |
|          |        |account|       |differ-|   re- |  gains |  earn- |        |
|          |        |       |       |  ences|serves |    and |   ings |        |
|          |        |       |       |       |       | losses |        |        |
--------------------------------------------------------------------------------
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| Total    | 11 860 |24 681 |  -115 | 1 202 | 1 776 |      0 |  6 903 | 46 307 |
| equity   |        |       |       |       |       |        |        |        |
| at 1     |        |       |       |       |       |        |        |        |
| January  |        |       |       |       |       |        |        |        |
| 2008     |        |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Cash     |        |       |       |       |  -334 |        |        |   -334 |
| flow     |        |       |       |       |       |        |        |        |
| hedges   |        |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Trans-   |        |       |       |   248 |       |        |        |    248 |
| lation   |        |       |       |       |       |        |        |        |
| differ-  |        |       |       |       |       |        |        |        |
| ences    |        |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Deferred |        |       |       |     2 |    87 |        |        |     89 |
| taxes    |        |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Share-   |        |       |       |       |       |        |     54 |     54 |
| based    |        |       |       |       |       |        |        |        |
| payments |        |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Other    |        |       |       |       |       |        |    -76 |    -76 |
| changes  |        |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Net      |        |       |     0 |   250 |  -247 |        |   - 22 |   - 19 |
| income   |        |       |       |       |       |        |        |        |
| recognis-|        |       |       |       |       |        |        |        |
| ed       |        |       |       |       |       |        |        |        |
| directly |        |       |       |       |       |        |        |        |
| in       |        |       |       |       |       |        |        |        |
| equity   |        |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Net      |        |       |       |       |       |        | -2 852 | -2 852 |
| income   |        |       |       |       |       |        |        |        |
| for the  |        |       |       |       |       |        |        |        |
| period   |        |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Total    |      0 |     0 |     0 |   250 |  -247 |      0 | -2 874 | -2 871 |
| recognis-|        |       |       |       |       |        |        |        |
| ed       |        |       |       |       |       |        |        |        |
| income   |        |       |       |       |       |        |        |        |
| and      |        |       |       |       |       |        |        |        |
| expense  |        |       |       |       |       |        |        |        |
| for the  |        |       |       |       |       |        |        |        |
| period   |        |       |       |       |       |        |        |        |
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| Business |        |       |       |       |       |        |        |        |
| transac- |        |       |       |       |       |        |        |        |
| tions    |        |       |       |       |       |        |        |        |
| with     |        |       |       |       |       |        |        |        |
| share-   |        |       |       |       |       |        |        |        |
| holders  |        |       |       |       |       |        |        |        |
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| Conveyan-|        |       |    99 |       |       |        |    -48 |     51 |
| ce of    |        |       |       |       |       |        |        |        |
| own      |        |       |       |       |       |        |        |        |
| shares   |        |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Total    | 11 860 |24 681 |   -16 | 1 452 | 1 529 |      0 |  3 981 | 43 487 |
| equity   |        |       |       |       |       |        |        |        |
| at 30    |        |       |       |       |       |        |        |        |
| September|        |       |       |       |       |        |        |        |
| 2008     |        |       |       |       |       |        |        |        |
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| EUR 1 000| Share | Share |   Own | Trans |   Fair | Actuar | Re-tai |  Total |
|          | capit | premi |shares |lation|  value |   -ial |    ned |        |
|          |    al |    um |       |       | re-ser |  gains | earn-i |        |
|          |       | accou |       | diffe |    ves |    and |    ngs |        |
|          |       |    nt |       | r-enc |        | losses |        |        |
|          |       |       |       |    es |        |        |        |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Total    | 11 860|24 681 |  -163 |   738 |  1 348 |  1 372 | 16 907 | 56 743 |
| equity   |       |       |       |       |        |        |        |        |
| at 1     |       |       |       |       |        |        |        |        |
| January  |       |       |       |       |        |        |        |        |
| 2007     |       |       |       |       |        |        |        |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Cash     |       |       |       |       |    619 |        |        |    619 |
| flow     |       |       |       |       |        |        |        |        |
| hedges   |       |       |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Translat |       |       |       |    12 |        |        |        |     12 |
| ion      |       |       |       |       |        |        |        |        |
| differen |       |       |       |       |        |        |        |        |
| ces      |       |       |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Deferred |       |       |       |    -2 |   -158 |     10 |        |   -150 |
| taxes    |       |       |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Share-ba |       |       |       |       |        |        |     25 |     25 |
| sed      |       |       |       |       |        |        |        |        |
| payments |       |       |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Actuaria |       |       |       |       |        |    -44 |        |    -44 |
| l gains  |       |       |       |       |        |        |        |        |
| and      |       |       |       |       |        |        |        |        |
| losses   |       |       |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Other    |       |       |       |       |        |        |     44 |     44 |
| changes  |       |       |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Net      |       |       |       |    10 |    461 |    -34 |     69 |    506 |
| income   |       |       |       |       |        |        |        |        |
| recognis |       |       |       |       |        |        |        |        |
| ed       |       |       |       |       |        |        |        |        |
| directly |       |       |       |       |        |        |        |        |
| in       |       |       |       |       |        |        |        |        |
| equity   |       |       |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Net      |       |       |       |       |        |        |    -99 |    -99 |
| income   |       |       |       |       |        |        |        |        |
| for the  |       |       |       |       |        |        |        |        |
| period   |       |       |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Total    |       |       |       |    10 |    461 |    -34 |    -30 |    407 |
| recognis |       |       |       |       |        |        |        |        |
| ed       |       |       |       |       |        |        |        |        |
| income   |       |       |       |       |        |        |        |        |
| and      |       |       |       |       |        |        |        |        |
| expense  |       |       |       |       |        |        |        |        |
| for the  |       |       |       |       |        |        |        |        |
| period   |       |       |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Business |       |       |       |       |        |        |        |        |
| transac- |       |       |       |       |        |        |        |        |
| tions    |       |       |       |       |        |        |        |        |
| with     |       |       |       |       |        |        |        |        |
| sharehol |       |       |       |       |        |        |        |        |
| d-ers    |       |       |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Dividend |       |       |       |       |        |        | -1 420 | -1 420 |
--------------------------------------------------------------------------------
| Conveyan |       |       |    47 |       |        |        |      3 |     50 |
| ce of    |       |       |       |       |        |        |        |        |
| own      |       |       |       |       |        |        |        |        |
| shares   |       |       |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Total    |11 860 |24 681 |  -116 |   748 |  1 809 |  1 338 | 15 460 | 55 780 |
| equity   |       |       |       |       |        |        |        |        |
| at 30    |       |       |       |       |        |        |        |        |
| September|       |       |       |       |        |        |        |        |
| 2007     |       |       |       |       |        |        |        |        |
--------------------------------------------------------------------------------



CASH FLOW STATEMENT                                                             
--------------------------------------------------------------------------------
| EUR 1 000                               |  1-9/2008 |  1-9/2007 |  1-12/2007 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Operations                              |           |           |            |
--------------------------------------------------------------------------------
| Operating profit                        |      -272 |     2 250 |     -6 777 |
--------------------------------------------------------------------------------
| Total adjustments                       |     9 340 |     9 973 |     21 430 |
--------------------------------------------------------------------------------
| Cash flow before change in working      |     9 067 |    12 223 |     14 653 |
| capital                                 |           |           |            |
--------------------------------------------------------------------------------
| Change in working capital               |     5 972 |    -6 355 |     -7 261 |
--------------------------------------------------------------------------------
| Financial items                         |    -2 790 |    -2 436 |     -3 852 |
--------------------------------------------------------------------------------
| Taxes paid                              |      -125 |       134 |       -791 |
--------------------------------------------------------------------------------
| Cash flow from operations               |    12 125 |     3 566 |      2 749 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Investments                             |           |           |            |
--------------------------------------------------------------------------------
| Investments in tangible and intangible  |    -3 536 |   -11 026 |    -12 898 |
| assets                                  |           |           |            |
--------------------------------------------------------------------------------
| Proceeds from disposal of fixed assets  |       287 |     1 396 |      1 634 |
| and other proceeds                      |           |           |            |
--------------------------------------------------------------------------------
| Cash flow from investing activities     |    -3 249 |    -9 630 |    -11 264 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Financing                               |           |           |            |
--------------------------------------------------------------------------------
| Non-current loans drawn                 |           |     7 447 |     18 371 |
--------------------------------------------------------------------------------
| Repayments of non-current loans         |    -8 933 |    -1 353 |    -12 042 |
--------------------------------------------------------------------------------
| Withdrawals of capital loans            |    10 000 |           |            |
--------------------------------------------------------------------------------
| Repayments of capital loans             |    -2 000 |    -2 000 |     -2 000 |
--------------------------------------------------------------------------------
| Foreign exchange profit or loss         |       408 |           |        522 |
--------------------------------------------------------------------------------
| Dividends paid                          |           |    -1 418 |     -1 420 |
--------------------------------------------------------------------------------
| Change in current loans                 |    -7 440 |     3 847 |      4 934 |
--------------------------------------------------------------------------------
| Cash flow from financing                |    -7 965 |     6 523 |      8 365 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Change in cash and cash equivalents     |       911 |       459 |       -150 |
--------------------------------------------------------------------------------



--------------------------------------------------------------------------------
| KEY FIGURES                             |  1-9/2008 |  1-9/2007 |    12/2007 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Earnings/share, EUR                     |     -0.12 |     -0.02 |      -0.43 |
--------------------------------------------------------------------------------
| Equity/share, EUR                       |      1.83 |      2.33 |       1.96 |
--------------------------------------------------------------------------------
| Cash flow from operations/share, EUR    |      0.51 |      0.15 |       0.12 |
--------------------------------------------------------------------------------
| Return on equity (ROE), %               |      -8.4 |      -1.1 |      -18.8 |
--------------------------------------------------------------------------------
| Return on invested capital (ROI), %     |      -0.2 |       2.1 |       -4.5 |
--------------------------------------------------------------------------------
| Equity ratio, %                         |      27.2 |      30.4 |       26.9 |
--------------------------------------------------------------------------------
| Gearing, %                              |     202.5 |     170.6 |      210.5 |
--------------------------------------------------------------------------------
| Gross investments, EUR 1 000            |     3 536 |     9 622 |     11 266 |
--------------------------------------------------------------------------------
| Depreciation and impairment losses, EUR |     9 639 |    10 416 |     13 934 |
| 1 000                                   |           |           |            |
--------------------------------------------------------------------------------
| Goodwill amortisation, EUR 1 000        |           |           |      8 430 |
--------------------------------------------------------------------------------



SEGMENT REPORTING                                                               

WIPES AND NONWOVENS                                                             
--------------------------------------------------------------------------------
| EUR 1 000                     | 1-9/2008 |  1-9/2007 |  Change % | 1-12/2007 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Net sales                     |          |           |           |           |
--------------------------------------------------------------------------------
| - Wet Wipes                   |   55 367 |    51 256 |       8.0 |    70 032 |
--------------------------------------------------------------------------------
| - Nonwovens                   |   60 820 |    58 390 |       4.2 |    76 970 |
--------------------------------------------------------------------------------
| - eliminations                |   -8 023 |    -6 134 |      30.8 |    -9 413 |
--------------------------------------------------------------------------------
| Total                         |  108 164 |   103 512 |       4.5 |   137 589 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Operating profit before       |     -318 |       425 |           |      -359 |
| goodwill amortisation         |          |           |           |           |
--------------------------------------------------------------------------------
| % of net sales                |     -0.3 |       0,4 |           |      -0.3 |
--------------------------------------------------------------------------------
| Goodwill amortisation         |          |           |           |    -8 430 |
--------------------------------------------------------------------------------
| Operating profit              |     -318 |       425 |           |    -8 789 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Assets                        |  104 724 |   117 306 |           |   108 295 |
--------------------------------------------------------------------------------
| Liabilities                   |   13 474 |    14 262 |           |    12 884 |
--------------------------------------------------------------------------------
| Net assets                    |   91 250 |   103 044 |           |    95 411 |
--------------------------------------------------------------------------------
| Investments                   |    1 869 |     3 797 |           |     4 379 |
--------------------------------------------------------------------------------
| Depreciation and impairment   |    5 702 |     6 282 |           |     8 407 |
| losses                        |          |           |           |           |
--------------------------------------------------------------------------------
| Goodwill amortisation         |          |           |           |     8 430 |
--------------------------------------------------------------------------------
| Average personnel             |      456 |       470 |           |       466 |
--------------------------------------------------------------------------------


FLEXIBLE PACKAGING                                                              
--------------------------------------------------------------------------------
| EUR 1 000                     | 1-9/2008 |  1-9/2007 |  Change % | 1-12/2007 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Net sales                     |   57 068 |    58 106 |      -1.8 |    78 269 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Operating profit              |      372 |     2 173 |           |     2 407 |
--------------------------------------------------------------------------------
| % of net sales                |      0.7 |       3.7 |           |       3.1 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Assets                        |   56 192 |    58 813 |           |    59 744 |
--------------------------------------------------------------------------------
| Liabilities                   |    8 975 |     8 394 |           |     9 896 |
--------------------------------------------------------------------------------
| Net assets                    |   47 217 |    50 419 |           |    49 848 |
--------------------------------------------------------------------------------
| Investments                   |    1 632 |     5 791 |           |     6 852 |
--------------------------------------------------------------------------------
| Depreciation and impairment   |    3 906 |     4 099 |           |     5 481 |
| losses                        |          |           |           |           |
--------------------------------------------------------------------------------
| Average personnel             |      571 |       597 |           |       593 |
--------------------------------------------------------------------------------


CONSOLIDATION ITEMS                                                             
--------------------------------------------------------------------------------
| EUR 1 000                           |   1-9/2008 |    1-9/2007 |   1-12/2007 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Net sales                           |       -451 |        -445 |        -613 |
--------------------------------------------------------------------------------
| Operating profit                    |       -326 |        -349 |        -395 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Assets                              |       -855 |       5 858 |       4 381 |
--------------------------------------------------------------------------------
| Liabilities                         |     94 125 |     104 080 |     103 333 |
--------------------------------------------------------------------------------
| Investments                         |         35 |          34 |          35 |
--------------------------------------------------------------------------------
| Depreciation and impairment losses  |         31 |          35 |          46 |
--------------------------------------------------------------------------------
| Average personnel                   |         12 |          11 |          11 |
--------------------------------------------------------------------------------



NET SALES BY MARKET AREA                                                        
--------------------------------------------------------------------------------
| EUR 1 000                           |   1-9/2008 |    1-9/2007 |   1-12/2007 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Finland                             |     26 134 |      25 257 |      34 139 |
--------------------------------------------------------------------------------
| Scandinavia                         |     13 518 |      16 559 |      22 032 |
--------------------------------------------------------------------------------
| The Netherlands                     |     13 694 |      14 111 |      19 022 |
--------------------------------------------------------------------------------
| Other Europe                        |     91 117 |      74 989 |     104 539 |
--------------------------------------------------------------------------------
| Other countries                     |     20 318 |      30 257 |      35 513 |
--------------------------------------------------------------------------------
| Net sales, total                    |    164 781 |     161 173 |     215 245 |
--------------------------------------------------------------------------------


QUARTERLY FIGURES                                                               
--------------------------------------------------------------------------------
| EUR 1 000           |  IV/2007 |   I/2008 |  II/2008 |  III/2008 | IV/2007- |
|                     |          |          |          |           | III/2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| NET SALES           |          |          |          |           |           |
--------------------------------------------------------------------------------
| Wipes and Nonwovens |          |          |          |           |           |
--------------------------------------------------------------------------------
| - Wet Wipes         |   18 776 |   18 507 |   17 379 |    19 481 |    74 143 |
--------------------------------------------------------------------------------
| - Nonwovens         |   18 580 |   20 559 |   21 109 |    19 152 |    79 400 |
--------------------------------------------------------------------------------
| - eliminations      |   -3 280 |   -3 564 |   -1 966 |    -2 493 |   -11 303 |
--------------------------------------------------------------------------------
| Total               |   34 076 |   35 502 |   36 522 |    36 140 |   142 240 |
--------------------------------------------------------------------------------
| Flexible Packaging  |   20 163 |   19 094 |   18 817 |    19 157 |    77 231 |
--------------------------------------------------------------------------------
| Consolidation items |     -168 |     -134 |     -171 |      -146 |      -619 |
| and eliminations    |          |          |          |           |           |
--------------------------------------------------------------------------------
| Net sales, total    |   54 071 |   54 462 |   55 168 |    55 151 |   218 852 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| OPERATING PROFIT    |          |          |          |           |           |
--------------------------------------------------------------------------------
| Wipes and Nonwovens |     -784 |      -97 |      295 |      -516 |    -1 102 |
--------------------------------------------------------------------------------
|  % of net sales     |     -2.3 |     -0.3 |      0.8 |      -1.4 |      -0.8 |
--------------------------------------------------------------------------------
| Flexible Packaging  |      234 |      175 |      509 |      -312 |       606 |
--------------------------------------------------------------------------------
|  % of net sales     |      1.2 |      0.9 |      2.7 |      -1.6 |       0.8 |
--------------------------------------------------------------------------------
| Consolidation items |      -46 |     -203 |     -186 |        63 |      -372 |
| and eliminations    |          |          |          |           |           |
--------------------------------------------------------------------------------
| Operating profit    |     -596 |     -125 |      618 |      -765 |      -868 |
| before goodwill     |          |          |          |           |           |
| amortisation        |          |          |          |           |           |
--------------------------------------------------------------------------------
|  % of net sales     |     -1.1 |     -0.2 |      1.1 |      -1.4 |      -0.4 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Goodwill            |   -8 430 |          |          |           |    -8 430 |
| amortisation        |          |          |          |           |           |
--------------------------------------------------------------------------------
| Operating profit,   |   -9 026 |     -125 |      618 |      -765 |    -9 298 |
| total               |          |          |          |           |           |
--------------------------------------------------------------------------------
|  % of net sales     |    -16.7 |     -0.2 |      1.1 |      -1.4 |      -4.2 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| NET FINANCIAL       |   -1 036 |   -1 084 |   -1 200 |    -1 260 |    -4 580 |
| EXPENSES            |          |          |          |           |           |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| PROFIT BEFORE       |  -10 062 |   -1 209 |     -582 |    -2 025 |   -13 878 |
| INCOME TAXES        |          |          |          |           |           |
--------------------------------------------------------------------------------


TAXES FOR THE PERIOD UNDER REVIEW                                               

Taxes for the period under review are calculated on the basis of the Group's tax
rate for the whole year, which is estimated to be 25 per cent in 2008 (25 per   
cent in 2007).                                                                  


INFORMATION ON RELATED PARTIES                                                  

Suominen has related party relationships with the members of the Board of       
Directors, and the members of the Corporate Executive Team. The Company has no  
investments in associated companies. Salaries paid to the related parties       
amounted to EUR 643 thousand, share-based payments EUR 67 thousand, and         
unsecured loans EUR 1 100 thousand.                                             


MOVEMENTS IN BORROWINGS                                                         
--------------------------------------------------------------------------------
| EUR 1 000                                           |  1-9/2008 |   1-9/2007 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Total borrowings on 1 January                       |    99 119 |     89 335 |
--------------------------------------------------------------------------------
|                                                     |           |            |
--------------------------------------------------------------------------------
| Current loans from financial institutions on 1      |     3 000 |      8 000 |
| January                                             |           |            |
--------------------------------------------------------------------------------
| Change in current loans from financial institutions |    -1 000 |     -8 000 |
--------------------------------------------------------------------------------
| Current loans from financial institutions on 30     |     2 000 |          0 |
| September                                           |           |            |
--------------------------------------------------------------------------------
|                                                     |           |            |
--------------------------------------------------------------------------------
| Commercial papers on 1 January                      |    15 336 |      5 402 |
--------------------------------------------------------------------------------
| Change in commercial papers                         |    -6 440 |     11 847 |
--------------------------------------------------------------------------------
| Commercial papers on 30 September                   |     8 896 |     17 249 |
--------------------------------------------------------------------------------
|                                                     |           |            |
--------------------------------------------------------------------------------
| Non-current loans on 1 January                      |    78 783 |     71 933 |
--------------------------------------------------------------------------------
| Change in non-current loans                         |    -8 525 |      6 095 |
--------------------------------------------------------------------------------
| Non-current loans on 30 September                   |    70 258 |     78 028 |
--------------------------------------------------------------------------------
|                                                     |           |            |
--------------------------------------------------------------------------------
| Capital loans on 1 January                          |     2 000 |      4 000 |
--------------------------------------------------------------------------------
| Change in capital loans                             |     8 000 |     -2 000 |
--------------------------------------------------------------------------------
| Capital loans on 30 September                       |    10 000 |      2 000 |
--------------------------------------------------------------------------------
|                                                     |           |            |
--------------------------------------------------------------------------------
| Total borrowings on 30 September                    |    91 154 |     97 277 |
--------------------------------------------------------------------------------



CHANGES IN FIXED ASSETS                                                         
--------------------------------------------------------------------------------
| EUR 1 000     |     1-9/ |         |     1-9/ |         |    1-12/ |         |
|               |     2008 |         |     2007 |         |     2007 |         |
--------------------------------------------------------------------------------
|               | Tangible |  Intan- | Tangible |  Intan- | Tangible |  Intan- |
|               |          |   gible |          |   gible |          |   gible |
--------------------------------------------------------------------------------
| Book value at |   74 083 |     942 |   77 168 |     944 |   77 168 |     944 |
| the beginning |          |         |          |         |          |         |
| of the period |          |         |          |         |          |         |
--------------------------------------------------------------------------------
| Investments   |    3 416 |     120 |    9 554 |      68 |   11 087 |     179 |
--------------------------------------------------------------------------------
| Decreases     |     -132 |      -2 |     -917 |    -177 |   -1 600 |         |
--------------------------------------------------------------------------------
| Depreciation  |   -9 473 |    -166 |  -10 264 |    -152 |  -13 730 |    -203 |
| and           |          |         |          |         |          |         |
| impairments   |          |         |          |         |          |         |
--------------------------------------------------------------------------------
| Translation   |      873 |       1 |       76 |     181 |    1 158 |      22 |
| differences   |          |         |          |         |          |         |
| and other     |          |         |          |         |          |         |
| changes       |          |         |          |         |          |         |
--------------------------------------------------------------------------------
| Book value at |   68 767 |     895 |   75 617 |     864 |   74 083 |     942 |
| the end of    |          |         |          |         |          |         |
| the period    |          |         |          |         |          |         |
--------------------------------------------------------------------------------



CONTINGENT LIABILITIES                                                          
--------------------------------------------------------------------------------
| EUR 1 000                              |    9/2008 |     9/2007 |    12/2007 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| FOR OWN DEBT                           |           |            |            |
--------------------------------------------------------------------------------
| Real estate mortgages                  |     5 045 |      5 045 |      5 045 |
--------------------------------------------------------------------------------
| Corporate mortgages                    |           |      1 177 |      1 177 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| OTHER OWN COMMITMENTS                  |           |            |            |
--------------------------------------------------------------------------------
| Leasing payments and commitments       |    11 218 |     11 303 |     11 105 |
--------------------------------------------------------------------------------
| Rent commitments                       |    11 906 |     14 074 |     13 209 |
--------------------------------------------------------------------------------
| Guarantee commitment for financial     |     1 491 |      1 579 |      1 557 |
| lease of discontinued operations       |           |            |            |
--------------------------------------------------------------------------------



NOMINAL AND FAIR VALUES OF DERIVATIVE FINANCIAL INSTRUMENTS                     

--------------------------------------------------------------------------------
| EUR 1 000                         |      9/2008 |      9/2007 |      12/2007 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| CURRENCY DERIVATIVES              |             |             |              |
--------------------------------------------------------------------------------
| Nominal value                     |       3 234 |      10 428 |       10 724 |
--------------------------------------------------------------------------------
| Fair value                        |          74 |         -38 |           69 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| INTEREST RATE DERIVATIVES         |             |             |              |
--------------------------------------------------------------------------------
| Nominal value                     |      68 700 |      66 333 |       65 667 |
--------------------------------------------------------------------------------
| Fair value                        |         867 |       1 122 |        1 123 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| ELECTRICITY DERIVATIVES           |             |             |              |
--------------------------------------------------------------------------------
| Nominal value                     |       3 115 |       5 445 |        4 683 |
--------------------------------------------------------------------------------
| Fair value                        |       1 200 |       1 007 |        1 337 |
--------------------------------------------------------------------------------




Helsinki, 22 October 2008                                                       

SUOMINEN CORPORATION                                                            

Board of Directors                                                              


For addition information please contact:                                        
Mr. Petri Rolig, President and CEO, tel. +358 (0)10 214 300                     
Mr. Arto Kiiskinen, Vice President and CFO, tel. +358 (0)10 214 300
interim-22-10-2008.pdf

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