Suominen Corporation Interim report 1 January - 31 March 2008 (IFRS)

SUOMINEN CORPORATION      INTERIM REPORT 23 APRIL 2008 AT 8.45 A.M.     


INTERIM REPORT 1 JANUARY - 31 MARCH 2008 (IFRS)                                 


SUOMINEN'S RESULT NEGATIVE DUE TO HIGH RAW MATERIAL COSTS                       


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| KEY FIGURES                         |  1-3/2008 |     1-3/2007 |   1-12/2007 |
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| Net sales, EUR million              |      54.5 |         54.3 |       215.2 |
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| Operating profit before goodwill    |      -0.1 |          1.3 |         1.7 |
| amortisation, EUR million           |           |              |             |
--------------------------------------------------------------------------------
| Operating profit, EUR million       |      -0.1 |          1.3 |        -6.8 |
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| Profit/loss for the period, EUR     |      -0.9 |          0.2 |       -10.1 |
| million                             |           |              |             |
--------------------------------------------------------------------------------
| Earnings/share, EUR                 |     -0.04 |         0.01 |       -0.43 |
--------------------------------------------------------------------------------
| Cash flow from operations/share,    |      0.14 |        -0.05 |        0.12 |
| EUR                                 |           |              |             |
--------------------------------------------------------------------------------


Outlook: Underlying operating profit is expected to improve on 2007 although no 
major changes are expected in the level of net sales. The second quarter of the 
year is anticipated to continue to be challenging.                              


GROUP FINANCIAL RESULTS                                                         

Suominen Corporation's net sales for the first quarter totalled EUR 54.5 million
(54.3). Operating profit was EUR -0.1 million (1.3), profit before taxes EUR    
-1.2 million (0.3) and profit after taxes EUR -0.9 million (0.2).               

In the first quarter of 2008, prices for raw materials and especially for       
viscose continued to rise and were higher than in the first and last quarters of
2007. Increased raw material prices and the price reductions included in some   
long-term contracts lowered the result by EUR 1.5 million. The implementation of
the cost-saving and operational enhancement programmes continued.               


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.                                                      

An improvement of EUR 1.0 million was achieved through these programmes during  
the period under review. Cost savings included in the programmes continued to   
proceed well.  A total of EUR 0.8 million was released from the working capital.


Financing                                                                       

Interest-bearing liabilities totalled EUR 99.5 million, i.e. EUR 0.3 million    
more than at the beginning of the year. To improve the Group's balance sheet    
structure, Suominen issued a capital loan of EUR 10.0 million directed to       
institutional and professional investors in March. In difficult money market,   
the issue succeeded well. The bond is a five-year capital loan that will be     
repaid in five equal instalments, the coupon is 11.5 per cent, and according to 
the Finnish Companies Act other debts take priority over the loan. Net financial
expenses were EUR 1.1 million (0.9) or 2.0 per cent (1.7) of net sales. A total 
of EUR 0.8 million was released in working capital in the cash flow statement.  
The equity ratio was 26.5 per cent (31.3). When the capital loans are included  
in shareholders' equity, the equity ratio was 33.6 per cent (33.6) and the ratio
of liabilities to shareholders' equity  146.1 per cent (141.6). Cash flow from  
operations was EUR 0.14 per share (-0.05).                                      


Investments                                                                     

The Company's gross investments in production totalled EUR 0.9 million (2.3).   
Planned depreciation amounted to EUR 3.3 million (3.6). Wet Wipes accounted for 
EUR 0.2 million (0.8), Nonwovens EUR 0.3 million (0.4) and Flexible Packaging   
EUR 0.4 million (1.1) 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 35.5 million, an increase of 3 per cent on the corresponding  
period in 2007. The operating profit of Wipes and Nonwovens totalled EUR -0.1   
million (0.6 million).                                                          

Net sales of Wet Wipes totalled EUR 18.5 million, an increase of 3 per cent on  
the previous year. Delivery volumes grew; strong growth was seen in personal    
care wipes in particular. Average sales prices fell as expected, mainly due to  
long-term contracts. The margins were reduced due to increases in raw material  
prices. The business unit launched a revision of its production recipes, which  
will enable a shift to less expensive raw materials for some products. The      
revision, including the necessary audits, will take time and did not yet have   
any effect during the period under review. The positive development of          
operational efficiency and the cost-saving measures continued, but the use of   
automatic lines was lower than planned due to the demand structure for the      
products. Whether the targets of the Stairs to Top programme set for the unit   
for 2008 will be achieved will, to a great extent, depend on the progress made  
in improving the yield of production and increasing the line speeds. The new    
organisational model, according to which sales and marketing management as well 
as supply chain management report directly to the head of the business area, was
introduced as of the beginning of March.                                        

Net sales of Nonwovens increased by 15 per cent to EUR 20.6 million. Net sales  
and delivery volumes increased over the first quarter of the previous year      
thanks to clearly higher volumes of thermobonded material for hygiene products. 
In hydroentangled nonwovens, the focus of sales shifted to Europe. There was a  
clear increase in internal deliveries. Prices for raw materials and especially  
for viscose continued to rise, which eroded the business unit's margins and     
resulted in a lower result than in 2007. Production efficiency improved and was 
stabilised thanks to fewer production disturbances and a better yield. The stock
of finished products was also increased as planned. An employee negotiation     
procedure that affected 9 people was carried out in the unit, resulting in an   
equal headcount reduction.                                                      

Net sales of Flexible Packaging totalled EUR 19.1 million (19.9) and operating  
profit EUR 0.2 million (1.0). Net sales and sales volumes decreased slightly    
from the previous year. The decrease was most clearly visible in hygiene        
packaging, whereas in carrier bags, the decrease was within the range of normal 
demand fluctuations. Sales development of wrap-around labels and security and   
system packaging remained positive. Raw material prices were higher than in the 
corresponding period in 2007 and also exceeded the prices of the last quarter of
2007. The price development of raw materials was the main reason for the lower  
result. Production at the Polish plant increased by 15 per cent thanks to the   
investment in the printing machine made in 2007. The stock of finished products 
was increased in anticipation of a growing demand for food packaging and carrier
bags. Employee negotiations affecting some 50 people were started in the        
business area. The aim is to secure the competitiveness of the Finnish plants.  
The negotiations were concluded in April.                                       


CHANGES IN GROUP ORGANISATION AND MANAGEMENT                                    

Mr. Paul-Erik Toivo was appointed head of Suominen Wipes and Nonwovens business 
area on 17 March 2008.                                                          

Mr. Petri Rolig was appointed President and CEO of the Company as of 1 May 2008.
Mr. Kalle Tanhuanpää will continue as President and CEO until 30 April 2008.    

The Corporate Executive Team comprises, the President and CEO, and the Vice     
Presidents and General Managers of the Wipes and Nowovens, and Flexible         
Packaging businesses, and the Vice President and CFO.                           


ANNUAL GENERAL MEETING OF SHAREHOLDERS                                          

Suominen Corporation's Annual General Meeting of Shareholders was held on 27    
March 2008. The Meeting decided that no dividend be paid for 2007.              

The Meeting approved the financial statements of the parent company and the     
Group for 2007 and released the members of the Board of Directors and the       
President and CEO from liability for the period.                                

The Meeting elected Heikki Bergholm, Kai Hannus, Pekka Laaksonen, Juhani        
Lassila, Mikko Maijala and Heikki Mairinoja to the Board of Directors. In its   
initial meeting, the Board of Directors elected Mikko Maijala as Chairman and   
Pekka Laaksonen as Deputy Chairman.                                             

PricewaterhouseCoopers Oy, Authorised Public Accountants, with Heikki Lassila,  
APA, as the principal auditor, were elected as auditors of Suominen Corporation.


SHARE CAPITAL AND SHARES                                                        

Share trading and price                                                         

The number of Suominen Corporation's shares traded on the OMX Nordic Exchange in
Helsinki from 1 January to 31 March 2008 was 630,621 shares or 2.7 per cent of  
the shares included in the Company's share capital. The trading price varied    
from EUR 1.52 to EUR 2.25. The final trading price was EUR 1.63, giving the     
Company a market capitalisation of EUR 38.7 million on 31 March 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 OMX   
Nordic Exchange in 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 31 March 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 2007                                                              

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. According to the 
2007A stock option plan a total of 35,000 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 OMX Nordic      
Exchange in Helsinki in May 2007 or EUR 3.44. The subscription period for the   
2007A stock options is from 2 May 2009 to 30 October 2010.                      

Suominen has stock option plans 2006 and 2007. 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.                                                   



OUTLOOK                                                                         

Consumption of the main products produced by Suominen is expected to grow faster
than general consumption on the Company's geographical markets.                 

The focus of Suominen's operations in 2008 will be on securing a clear          
improvement in profitability, strong cash flow and capital structure.           
Investments already made, together with investments in know-how, will help      
improve efficiency. The ongoing cost-saving and efficiency-enhancement programme
is expected to improve Suominen's competitiveness. The prices of the main raw   
materials used by Suominen have continued to increase this year, and they are   
expected to remain high for at least the first part of the year. Also energy    
prices are expected to remain high.                                             

Underlying operating profit is expected to improve on 2007 although no major    
changes are expected in the level of net sales. The second quarter of the year  
is anticipated to continue to be challenging.                                   


EVENTS AFTER THE REPORTING PERIOD                                               

Mr. Kalle Tanhuanpää, the President and CEO of Suominen Corporation will leave  
the Company to join another company in May 2008. Mr. Petri Rolig has been       
appointed the Company's new President and CEO as of 1 May 2008. He has been Vice
President and General Manager of Suominen Flexible Packaging.                   

Employee negotiations started in March 2008 at Suominen Flexible Packaging's    
Tampere and Nastola plants have been concluded on 15 April 2008. As a result of 
the negotiations, pension arrangements, natural redundancy and termination of   
fixed-term contracts, the total headcount reduction will be 50 persons.         



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 margins.         

Nonwovens and Flexible Packaging purchase oil-based raw materials to the value  
of some EUR 45 million annually. In addition, significantly amounts of viscose, 
printing inks, and solvents are also purchased. Rapid fluctuations in the world 
market prices of raw materials can 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 not decline from current levels. Delays in the implementation of measures  
or their failure would have a negative impact on the Company's result.          

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.                                                             


SUOMINEN CORPORATION CONSOLIDATED 1 JANUARY - 31 MARCH 2008 (IFRS)              

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                               |  1-3/2008 |  1-3/2007 |  1-12/2007 |
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| NET SALES                               |    54 462 |    54 299 |    215 245 |
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| Cost of goods sold                      |   -51 723 |   -50 252 |   -202 738 |
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| GROSS PROFIT                            |     2 739 |     4 047 |     12 507 |
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| Other operating income                  |       169 |       475 |      1 438 |
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| Sales and marketing expenses            |      -838 |    -1 045 |     -3 643 |
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| Research and development                |      -539 |      -435 |     -2 121 |
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| Administration expenses                 |    -1 625 |    -1 692 |     -6 300 |
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| Other operating expenses                |       -31 |      -100 |       -228 |
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| OPERATING PROFIT BEFORE GOODWILL        |      -125 |     1 250 |      1 653 |
| AMORTISATION                            |           |           |            |
--------------------------------------------------------------------------------
| Goodwill amortisation                   |           |           |     -8 430 |
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| OPERATING PROFIT                        |      -125 |     1 250 |     -6 777 |
--------------------------------------------------------------------------------
| Interest and other financial income and |    -1 084 |      -945 |     -3 922 |
| expenses                                |           |           |            |
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| Fair value gains and losses             |           |     6     |          4 |
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| PROFIT BEFORE INCOME TAXES              |    -1 209 |       311 |    -10 695 |
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| Income taxes                            |       309 |       -80 |        564 |
--------------------------------------------------------------------------------
| PROFIT/LOSS FOR THE PERIOD              |      -900 |       231 |    -10 131 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Earnings/share, EUR                     |     -0.04 |      0.01 |      -0.43 |
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KEY FIGURES ON STATEMENT OF INCOME                                              
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|                                         |  1-3/2008 |  1-3/2007 |  1-12/2007 |
--------------------------------------------------------------------------------
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| Net sales, change, % *                  |       0.3 |           |            |
--------------------------------------------------------------------------------
| Gross profit, % **                      |       5.0 |       7.5 |        5.8 |
--------------------------------------------------------------------------------
| Operating profit, % **                  |      -0.2 |       2.3 |       -3.1 |
--------------------------------------------------------------------------------
| Financial income and expenses, % **     |      -2.0 |      -1.7 |       -1.8 |
--------------------------------------------------------------------------------
| Profit before income taxes, % **        |      -2.2 |       0.6 |       -5.0 |
--------------------------------------------------------------------------------
| Profit for the period, % **             |      -1.7 |       0.4 |       -4.7 |
--------------------------------------------------------------------------------

*  Compared with the corresponding period of the previous year.                 
** As of net sales.                                                             


BALANCE SHEET                                                                   
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| EUR 1 000                               |    3/2008 |    3/2007 |    12/2007 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| ASSETS                                  |           |           |            |
--------------------------------------------------------------------------------
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| Non-current assets                      |           |           |            |
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| Goodwill                                |    25 604 |    34 195 |     25 604 |
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| Intangible non-current assets           |       881 |       945 |        942 |
--------------------------------------------------------------------------------
| Tangible non-current assets             |    72 049 |    74 861 |     74 083 |
--------------------------------------------------------------------------------
| Available-for-sale financial assets     |       712 |       725 |        712 |
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| Held-to-maturity investments            |       100 |       100 |        100 |
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| Deferred tax assets                     |       961 |       888 |        688 |
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| Non-current assets, total               |   100 307 |   111 714 |    102 129 |
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| Current assets                          |           |           |            |
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| Inventories                             |    33 280 |    29 147 |     30 765 |
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| Trade receivables                       |    26 277 |    25 540 |     28 718 |
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| Other current receivables               |     5 169 |     8 163 |      8 873 |
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| Income tax receivables                  |       339 |     1 257 |        841 |
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| Cash at bank and in hand                |     3 904 |       282 |      1 094 |
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| Current assets, total                   |    68 969 |    64 389 |     70 291 |
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| Assets, total                           |   169 276 |   176 103 |    172 420 |
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| SHAREHOLDERS' EQUITY AND LIABILITIES    |           |           |            |
--------------------------------------------------------------------------------
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| Shareholders' equity                    |           |           |            |
--------------------------------------------------------------------------------
| Share capital                           |    11 860 |    11 860 |     11 860 |
--------------------------------------------------------------------------------
| Share premium account                   |    24 681 |    24 681 |     24 681 |
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| Fair value and other reserves           |       755 |       955 |      1 661 |
--------------------------------------------------------------------------------
| Translation differences                 |     1 402 |       560 |      1 202 |
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| Other shareholders' equity              |     6 120 |    17 106 |      6 903 |
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| Shareholders' equity, total             |    44 818 |    55 162 |     46 307 |
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| Liabilities                             |           |           |            |
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| Non-current liabilities                 |           |           |            |
--------------------------------------------------------------------------------
| Deferred tax liabilities                |     5 457 |     6 083 |      5 848 |
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| Pension liabilities                     |           |       290 |            |
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| Provisions                              |           |        85 |            |
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| Capital loans                           |    10 000 |     2 000 |            |
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| Interest-bearing liabilities            |    62 336 |    62 817 |     62 186 |
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| Other non-current liabilities           |           |        12 |            |
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| Non-current liabilities, total          |    77 793 |    71 287 |     68 034 |
--------------------------------------------------------------------------------
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| Current liabilities                     |           |           |            |
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| Interest-bearing liabilities            |    25 128 |    25 318 |     34 933 |
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| Provisions                              |       100 |       115 |        100 |
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| Capital loans                           |     2 000 |     2 000 |      2 000 |
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| Income tax liabilities                  |       106 |       697 |            |
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| Trade payables and other current        |    19 331 |    21 524 |     21 046 |
| liabilities                             |           |           |            |
--------------------------------------------------------------------------------
| Current liabilities, total              |    46 665 |    49 654 |     58 079 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Liabilities, total                      |   124 458 |   120 941 |    126 113 |
--------------------------------------------------------------------------------
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| Shareholders' equity and liabilities,   |   169 276 |   176 103 |    172 420 |
| total                                   |           |           |            |
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STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY                                    

--------------------------------------------------------------------------------
| EUR 1    | Share | Share |  Own | Trans |    Fair | Actuari | Re-ta |  Total |
| 000      | capit | premi | shar | -lati |   value |      al |  ined |        |
|          |    al |    um |   es |    on | reserve |   gains | earn- |        |
|          |       | accou |      | diffe |       s |     and |  ings |        |
|          |       |    nt |      | -renc |         |  losses |       |        |
|          |       |       |      |    es |         |         |       |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Total    |    11 |    24 | -115 | 1 202 |   1 776 |       0 | 6 903 | 46 307 |
| equity   |   860 |   681 |      |       |         |         |       |        |
| at 1     |       |       |      |       |         |         |       |        |
| Jan.     |       |       |      |       |         |         |       |        |
| 2008     |       |       |      |       |         |         |       |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Cash     |       |       |      |       |  -1 224 |         |       | -1 224 |
| flow     |       |       |      |       |         |         |       |        |
| hedges   |       |       |      |       |         |         |       |        |
--------------------------------------------------------------------------------
| Translat |       |       |      |   177 |         |         |       |    177 |
| ion      |       |       |      |       |         |         |       |        |
| differen |       |       |      |       |         |         |       |        |
| ces      |       |       |      |       |         |         |       |        |
--------------------------------------------------------------------------------
| Deferred |       |       |      |    23 |     318 |         |       |    341 |
| taxes    |       |       |      |       |         |         |       |        |
--------------------------------------------------------------------------------
| Share-ba |       |       |      |       |         |         |    30 |     30 |
| sed      |       |       |      |       |         |         |       |        |
| payments |       |       |      |       |         |         |       |        |
--------------------------------------------------------------------------------
| Other    |       |       |      |       |         |         |    87 |     87 |
| changes  |       |       |      |       |         |         |       |        |
--------------------------------------------------------------------------------
| Net      |       |       |      |   200 |    -906 |         |   117 |   -589 |
| income   |       |       |      |       |         |         |       |        |
| recognis |       |       |      |       |         |         |       |        |
| ed       |       |       |      |       |         |         |       |        |
| directly |       |       |      |       |         |         |       |        |
| in       |       |       |      |       |         |         |       |        |
| equity   |       |       |      |       |         |         |       |        |
--------------------------------------------------------------------------------
| Net      |       |       |      |       |         |         |  -900 |   -900 |
| income   |       |       |      |       |         |         |       |        |
| for the  |       |       |      |       |         |         |       |        |
| period   |       |       |      |       |         |         |       |        |
--------------------------------------------------------------------------------
| Total    |     0 |     0 |    0 |   200 |    -906 |       0 |  -783 | -1 489 |
| recognis |       |       |      |       |         |         |       |        |
| ed       |       |       |      |       |         |         |       |        |
| income   |       |       |      |       |         |         |       |        |
| and      |       |       |      |       |         |         |       |        |
| expense  |       |       |      |       |         |         |       |        |
| for the  |       |       |      |       |         |         |       |        |
| period   |       |       |      |       |         |         |       |        |
--------------------------------------------------------------------------------
| Total    |    11 |    24 | -115 | 1 402 |     870 |       0 | 6 120 | 44 818 |
| equity   |   860 |   681 |      |       |         |         |       |        |
| at 31    |       |       |      |       |         |         |       |        |
| March    |       |       |      |       |         |         |       |        |
| 2008     |       |       |      |       |         |         |       |        |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
| EUR 1    | Share | Share |  Own | Trans |    Fair | Actuar- | Re-ta |  Total |
| 000      | capit | premi | shar | -lati |   value |     ial |  ined |        |
|          |    al |    um |   es |    on | reserve |   gains | earn- |        |
|          |       | accou |      | diffe |       s |     and |  ings |        |
|          |       |    nt |      |     - |         |  losses |       |        |
|          |       |       |      | rence |         |         |       |        |
|          |       |       |      |     s |         |         |       |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Total    |    11 |    24 | -163 |   738 |   1 348 |   1 372 |    16 | 56 743 |
| equity   |   860 |   681 |      |       |         |         |   907 |        |
| at 1     |       |       |      |       |         |         |       |        |
| Jan.     |       |       |      |       |         |         |       |        |
| 2007     |       |       |      |       |         |         |       |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Cash     |       |       |      |       |   - 311 |         |       |   -311 |
| flow     |       |       |      |       |         |         |       |        |
| hedges   |       |       |      |       |         |         |       |        |
--------------------------------------------------------------------------------
| Translat |       |       |      |  -241 |         |         |       |   -241 |
| ion      |       |       |      |       |         |         |       |        |
| differen |       |       |      |       |         |         |       |        |
| ces      |       |       |      |       |         |         |       |        |
--------------------------------------------------------------------------------
| Deferred |       |       |      |    63 |      81 |       7 |       |    151 |
| taxes    |       |       |      |       |         |         |       |        |
--------------------------------------------------------------------------------
| Share-ba |       |       |      |       |         |         |     9 |      9 |
| sed      |       |       |      |       |         |         |       |        |
| payments |       |       |      |       |         |         |       |        |
--------------------------------------------------------------------------------
| Other    |       |       |      |       |         |     -22 |       |    -22 |
| changes  |       |       |      |       |         |         |       |        |
--------------------------------------------------------------------------------
| Net      |       |       |      |  -178 |    -230 |     -15 |     9 |   -414 |
| income   |       |       |      |       |         |         |       |        |
| recognis |       |       |      |       |         |         |       |        |
| ed       |       |       |      |       |         |         |       |        |
| directly |       |       |      |       |         |         |       |        |
| in       |       |       |      |       |         |         |       |        |
| equity   |       |       |      |       |         |         |       |        |
--------------------------------------------------------------------------------
| Net      |       |       |      |       |         |         |   231 |    231 |
| income   |       |       |      |       |         |         |       |        |
| for the  |       |       |      |       |         |         |       |        |
| period   |       |       |      |       |         |         |       |        |
--------------------------------------------------------------------------------
| Total    |     0 |     0 |    0 |  -178 |    -230 |     -15 |   240 |   -183 |
| recognis |       |       |      |       |         |         |       |        |
| ed       |       |       |      |       |         |         |       |        |
| income   |       |       |      |       |         |         |       |        |
| and      |       |       |      |       |         |         |       |        |
| expense  |       |       |      |       |         |         |       |        |
| for the  |       |       |      |       |         |         |       |        |
| period   |       |       |      |       |         |         |       |        |
--------------------------------------------------------------------------------
| Actuaria |       |       |      |       |         |         |    22 |     22 |
| l gains  |       |       |      |       |         |         |       |        |
| and      |       |       |      |       |         |         |       |        |
| losses/  |       |       |      |       |         |         |       |        |
| changes  |       |       |      |       |         |         |       |        |
--------------------------------------------------------------------------------
| Dividend |       |       |      |       |         |         |    -1 | -1 420 |
|          |       |       |      |       |         |         |   420 |        |
--------------------------------------------------------------------------------
| Total    |    11 |    24 | -163 |   560 |   1 118 |   1 357 |    15 | 55 162 |
| equity   |   860 |   681 |      |       |         |         |   749 |        |
| at 31    |       |       |      |       |         |         |       |        |
| March    |       |       |      |       |         |         |       |        |
| 2007     |       |       |      |       |         |         |       |        |
--------------------------------------------------------------------------------



CASH FLOW STATEMENT                                                             
--------------------------------------------------------------------------------
| EUR 1 000                               |  1-3/2008 |  1-3/2007 |  1-12/2007 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Operations                              |           |           |            |
--------------------------------------------------------------------------------
| Operating profit                        |      -125 |     1 250 |     -6 777 |
--------------------------------------------------------------------------------
| Total adjustments                       |     3 238 |     3 469 |     21 430 |
--------------------------------------------------------------------------------
| Cash flow before change in working      |     3 112 |     4 719 |     14 653 |
| capital                                 |           |           |            |
--------------------------------------------------------------------------------
| Change in working capital               |       778 |    -1 469 |     -7 256 |
--------------------------------------------------------------------------------
| Financial items                         |      -441 |      -583 |     -3 852 |
--------------------------------------------------------------------------------
| Taxes paid                              |       -23 |      -331 |       -791 |
--------------------------------------------------------------------------------
| Cash flow from operations before        |     3 427 |     2 336 |      2 754 |
| interest-bearing receivables            |           |           |            |
--------------------------------------------------------------------------------
| Change in interest-bearing receivables  |           |    -3 536 |         -5 |
--------------------------------------------------------------------------------
| Cash flow from operations               |     3 427 |    -1 200 |      2 749 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Investments                             |           |           |            |
--------------------------------------------------------------------------------
| Investments in tangible and intangible  |      -956 |    -3 421 |    -12 898 |
| assets                                  |           |           |            |
--------------------------------------------------------------------------------
| Proceeds from disposal of fixed assets  |           |       898 |      1 634 |
| and other proceeds                      |           |           |            |
--------------------------------------------------------------------------------
| Cash flow from investing activities     |      -956 |    -2 523 |    -11 264 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Financing                               |           |           |            |
--------------------------------------------------------------------------------
| Non-current loans drawn                 |           |           |     18 371 |
--------------------------------------------------------------------------------
| Repayments of non-current loans         |    -1 400 |      -316 |    -12 042 |
--------------------------------------------------------------------------------
| Capital loans                           |    10 000 |           |     -2 000 |
--------------------------------------------------------------------------------
| Foreign exchange profit or loss         |       167 |           |        522 |
--------------------------------------------------------------------------------
| Dividends paid                          |           |           |     -1 420 |
--------------------------------------------------------------------------------
| Change in current loans                 |    -8 422 |     3 118 |      4 934 |
--------------------------------------------------------------------------------
| Cash flow from financing                |       345 |     2 802 |      8 365 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Change in cash and cash equivalents     |     2 817 |      -922 |       -150 |
--------------------------------------------------------------------------------



--------------------------------------------------------------------------------
| KEY FIGURES                             |  1-3/2008 |  1-3/2007 |    12/2007 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Earnings/share, EUR                     |     -0.04 |      0.01 |      -0.43 |
--------------------------------------------------------------------------------
| Equity/share, EUR                       |      1.89 |      2.33 |       1.96 |
--------------------------------------------------------------------------------
| Cash flow from operations/share, EUR    |      0.14 |     -0.05 |       0.12 |
--------------------------------------------------------------------------------
| Return on equity (ROE), %               |      -7.9 |       1.7 |      -18.8 |
--------------------------------------------------------------------------------
| Return on invested capital (ROI), %     |      -0.3 |       3.5 |       -4.5 |
--------------------------------------------------------------------------------
| Equity ratio, %                         |      26.5 |      31.3 |       26.9 |
--------------------------------------------------------------------------------
| Gearing, %                              |     212.0 |     159.1 |      210.5 |
--------------------------------------------------------------------------------
| Gross investments, EUR 1 000            |       912 |     2 283 |     11 266 |
--------------------------------------------------------------------------------
| Depreciation and impairment losses, EUR |     3 339 |     3 530 |     13 934 |
| 1 000                                   |           |           |            |
--------------------------------------------------------------------------------
| Goodwill amortisation, EUR 1 000        |           |           |      8 430 |
--------------------------------------------------------------------------------



SEGMENT REPORTING                                                               

WIPES AND NONWOVENS                                                             
--------------------------------------------------------------------------------
| EUR 1 000                     | 1-3/2008 |  1-3/2007 |  Change % | 1-12/2007 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Net sales                     |          |           |           |           |
--------------------------------------------------------------------------------
| - Wet Wipes                   |   18 507 |    17 997 |       2.8 |    70 032 |
--------------------------------------------------------------------------------
| - Nonwovens                   |   20 559 |    17 901 |      14.8 |    76 970 |
--------------------------------------------------------------------------------
| - eliminations                |   -3 564 |    -1 354 |           |    -9 413 |
--------------------------------------------------------------------------------
| Total                         |   35 502 |    34 544 |       2.8 |   137 589 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Operating profit before       |      -97 |       587 |    -116.5 |      -359 |
| goodwill amortisation         |          |           |           |           |
--------------------------------------------------------------------------------
| % of net sales                |     -0.3 |       1.7 |           |      -0.3 |
--------------------------------------------------------------------------------
| Goodwill amortisation         |          |           |           |    -8 430 |
--------------------------------------------------------------------------------
| Operating profit              |      -97 |       587 |           |    -8 789 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Assets                        |  106 952 |   117 020 |           |   108 295 |
--------------------------------------------------------------------------------
| Liabilities                   |   11 831 |    12 188 |           |    12 884 |
--------------------------------------------------------------------------------
| Net assets                    |   95 121 |   104 832 |           |    95 411 |
--------------------------------------------------------------------------------
| Investments                   |      558 |     1 140 |           |     4 379 |
--------------------------------------------------------------------------------
| Depreciation and impairment   |    1 925 |     2 152 |           |     8 407 |
| losses                        |          |           |           |           |
--------------------------------------------------------------------------------
| Goodwill amortisation         |          |           |           |     8 430 |
--------------------------------------------------------------------------------
| Average personnel             |      459 |       467 |           |       466 |
--------------------------------------------------------------------------------


FLEXIBLE PACKAGING                                                              
--------------------------------------------------------------------------------
| EUR 1 000                     | 1-3/2008 |  1-3/2007 |  Change % | 1-12/2007 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Net sales                     |   19 094 |    19 865 |      -3.9 |    78 269 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Operating profit              |      175 |       952 |     -81.6 |     2 407 |
--------------------------------------------------------------------------------
| % of net sales                |      0.9 |       4.8 |           |       3.1 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Assets                        |   57 835 |    56 032 |           |    59 744 |
--------------------------------------------------------------------------------
| Liabilities                   |    9 423 |     7 870 |           |     9 896 |
--------------------------------------------------------------------------------
| Net assets                    |   48 412 |    48 162 |           |    49 848 |
--------------------------------------------------------------------------------
| Investments                   |      354 |     1 143 |           |     6 852 |
--------------------------------------------------------------------------------
| Depreciation and impairment   |    1 403 |     1 395 |           |     5 481 |
| losses                        |          |           |           |           |
--------------------------------------------------------------------------------
| Average personnel             |      581 |       586 |           |       593 |
--------------------------------------------------------------------------------


CONSOLIDATION ITEMS                                                             
--------------------------------------------------------------------------------
| EUR 1 000                           |   1-3/2008 |    1-3/2007 |   1-12/2007 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Net sales                           |       -134 |        -110 |        -613 |
--------------------------------------------------------------------------------
| Operating profit                    |       -203 |        -289 |        -395 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Assets                              |      4 489 |       3 051 |       4 381 |
--------------------------------------------------------------------------------
| Liabilities                         |    103 203 |      99 463 |     103 333 |
--------------------------------------------------------------------------------
| Investments                         |            |             |          35 |
--------------------------------------------------------------------------------
| Depreciation and impairment losses  |         11 |          13 |          46 |
--------------------------------------------------------------------------------
| Average personnel                   |         12 |          12 |          11 |
--------------------------------------------------------------------------------



NET SALES BY MARKET AREA                                                        
--------------------------------------------------------------------------------
| EUR 1 000                           |   1-3/2008 |    1-3/2007 |   1-12/2007 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Finland                             |      8 416 |       8 239 |      34 139 |
--------------------------------------------------------------------------------
| Scandinavia                         |      4 789 |       5 747 |      22 032 |
--------------------------------------------------------------------------------
| The Netherlands                     |      4 667 |       4 452 |      19 022 |
--------------------------------------------------------------------------------
| Other Europe                        |     28 888 |      25 963 |     104 539 |
--------------------------------------------------------------------------------
| Other countries                     |      7 702 |       9 898 |      35 513 |
--------------------------------------------------------------------------------
| Net sales, total                    |     54 462 |      54 299 |     215 245 |
--------------------------------------------------------------------------------


QUARTERLY FIGURES                                                               
--------------------------------------------------------------------------------
| EUR 1 000           |  II/2007 | III/2007 |  IV/2007 |    I/2008 |  II/2007- |
|                     |          |          |          |           |    I/2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| NET SALES           |          |          |          |           |           |
--------------------------------------------------------------------------------
| Wipes and Nonwovens |          |          |          |           |           |
--------------------------------------------------------------------------------
| - Wet Wipes         |   15 485 |   17 774 |   18 776 |    18 507 |    70 542 |
--------------------------------------------------------------------------------
| - Nonwovens         |   19 119 |   21 370 |   18 580 |    20 559 |    79 628 |
--------------------------------------------------------------------------------
| - eliminations      |   -2 137 |   -2 643 |   -3 280 |    -3 564 |   -11 624 |
--------------------------------------------------------------------------------
| Total               |   32 467 |   36 501 |   34 076 |    35 502 |   138 546 |
--------------------------------------------------------------------------------
| Flexible Packaging  |   18 833 |   19 408 |   20 163 |    19 094 |    77 498 |
--------------------------------------------------------------------------------
| Consolidation items |     -127 |     -208 |     -168 |      -134 |      -637 |
| and eliminations    |          |          |          |           |           |
--------------------------------------------------------------------------------
| Net sales, total    |   51 173 |   55 701 |   54 071 |    54 462 |   215 407 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| OPERATING PROFIT    |          |          |          |           |           |
--------------------------------------------------------------------------------
| Wipes and Nonwovens |     -721 |      559 |     -784 |       -97 |    -1 043 |
--------------------------------------------------------------------------------
|  % of net sales     |     -2.2 |      1.5 |     -2.3 |      -0.3 |      -0.8 |
--------------------------------------------------------------------------------
| Flexible Packaging  |    1 169 |       52 |      234 |       175 |     1 630 |
--------------------------------------------------------------------------------
|  % of net sales     |      6.2 |      0.3 |      1.2 |       0.9 |       2.1 |
--------------------------------------------------------------------------------
| Consolidation items |        6 |      -66 |      -46 |      -203 |      -309 |
| and eliminations    |          |          |          |           |           |
--------------------------------------------------------------------------------
| Operating profit    |      454 |      545 |     -596 |      -125 |       278 |
| before goodwill     |          |          |          |           |           |
| amortisation        |          |          |          |           |           |
--------------------------------------------------------------------------------
|  % of net sales     |      0.9 |      1.0 |     -1.1 |      -0.2 |       0.1 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Goodwill            |          |          |   -8 430 |           |    -8 430 |
| amortisation        |          |          |          |           |           |
--------------------------------------------------------------------------------
| Operating profit,   |      454 |      545 |   -9 026 |      -125 |    -8 152 |
| total               |          |          |          |           |           |
--------------------------------------------------------------------------------
|  % of net sales     |      0.9 |      1.0 |    -16.7 |      -0.2 |      -3.8 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| NET FINANCIAL       |     -897 |   -1 046 |   -1 036 |    -1 084 |    -4 063 |
| EXPENSES            |          |          |          |           |           |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| PROFIT BEFORE       |     -443 |     -501 |  -10 062 |    -1 209 |   -12 215 |
| 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 26 per cent in 2008 (26 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 163 thousand, share-based payments EUR 30 thousand, and         
unsecured loans EUR 1 100 thousand.                                             


MOVEMENTS IN BORROWINGS                                                         
--------------------------------------------------------------------------------
| EUR 1 000                                           |  1-3/2008 |   1-3/2007 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 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 |    -3 000 |     -8 000 |
--------------------------------------------------------------------------------
| Current loans from financial institutions on 31     |         0 |          0 |
| March                                               |           |            |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Commercial papers on 1 January                      |    15 336 |      5 402 |
--------------------------------------------------------------------------------
| Change in commercial papers                         |    -5 422 |     11 116 |
--------------------------------------------------------------------------------
| Commercial papers on 31 March                       |     9 914 |     16 518 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Non-current loans on 1 January                      |    78 783 |     71 933 |
--------------------------------------------------------------------------------
| Change in non-current loans                         |    -1 233 |       -316 |
--------------------------------------------------------------------------------
| Non-current loans on 31 March                       |    77 550 |     71 617 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Capital loans on 1 January                          |     2 000 |      4 000 |
--------------------------------------------------------------------------------
| Change in capital loans                             |    10 000 |            |
--------------------------------------------------------------------------------
| Capital loans on 31 March                           |    12 000 |      4 000 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Total borrowings on 31 March                        |    99 464 |     92 135 |
--------------------------------------------------------------------------------



CHANGES IN FIXED ASSETS                                                         
--------------------------------------------------------------------------------
| EUR 1 000      |    1-3/ |         |    1-3/ |         |    1-12/ |          |
|                |    2008 |         |    2007 |         |     2007 |          |
--------------------------------------------------------------------------------
|                | Tangibl | Intan-g | Tangibl | Intan-g | Tangible | Intan-gi |
|                |       e |    ible |       e |    ible |          |      ble |
--------------------------------------------------------------------------------
| Book value at  |  74 083 |     942 |  77 168 |     944 |   77 168 |      944 |
| the beginning  |         |         |         |         |          |          |
| of the period  |         |         |         |         |          |          |
--------------------------------------------------------------------------------
| Investments    |     887 |      25 |   2 250 |      33 |   11 087 |      179 |
--------------------------------------------------------------------------------
| Decreases      |         |         |    -762 |     -16 |   -1 600 |          |
--------------------------------------------------------------------------------
| Depreciation   |  -3 290 |     -49 |  -3 509 |     -51 |  -13 730 |     -203 |
| and            |         |         |         |         |          |          |
| impairments    |         |         |         |         |          |          |
--------------------------------------------------------------------------------
| Translation    |     369 |     -37 |    -286 |      35 |    1 158 |       22 |
| differences    |         |         |         |         |          |          |
| and other      |         |         |         |         |          |          |
| changes        |         |         |         |         |          |          |
--------------------------------------------------------------------------------
| Book value at  |  72 049 |     881 |  74 861 |     945 |   74 083 |      942 |
| the end of the |         |         |         |         |          |          |
| period         |         |         |         |         |          |          |
--------------------------------------------------------------------------------



CONTINGENT LIABILITIES                                                          
--------------------------------------------------------------------------------
| EUR 1 000                              |    3/2008 |     3/2007 |    12/2007 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| FOR OWN DEBT                           |           |            |            |
--------------------------------------------------------------------------------
| Real estate mortgages                  |     5 045 |      5 046 |      5 045 |
--------------------------------------------------------------------------------
| Corporate mortgages                    |           |      1 177 |      1 177 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| OTHER OWN COMMITMENTS                  |           |            |            |
--------------------------------------------------------------------------------
| Leasing payments and commitments       |     8 576 |      8 500 |     10 226 |
--------------------------------------------------------------------------------
| Rent commitments                       |    13 357 |     14 984 |     13 209 |
--------------------------------------------------------------------------------
| Guarantee commitment for financial     |     1 536 |      1 621 |      1 557 |
| lease of discontinued operations       |           |            |            |
--------------------------------------------------------------------------------



NOMINAL AND FAIR VALUES OF DERIVATIVE FINANCIAL INSTRUMENTS                     

--------------------------------------------------------------------------------
| EUR 1 000                         |      3/2008 |      3/2007 |      12/2007 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| CURRENCY DERIVATIVES              |             |             |              |
--------------------------------------------------------------------------------
| Nominal value                     |       9 161 |       9 563 |       10 724 |
--------------------------------------------------------------------------------
| Fair value                        |         118 |          56 |           69 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| INTEREST RATE DERIVATIVES         |             |             |              |
--------------------------------------------------------------------------------
| Nominal value                     |      73 667 |      60 633 |       65 667 |
--------------------------------------------------------------------------------
| Fair value                        |         752 |       1 120 |        1 123 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| ELECTRICITY DERIVATIVES           |             |             |              |
--------------------------------------------------------------------------------
| Nominal value                     |       4 281 |       5 551 |        4 683 |
--------------------------------------------------------------------------------
| Fair value                        |         520 |         407 |        1 337 |
--------------------------------------------------------------------------------




Helsinki, 23 April 2008                                                         

SUOMINEN CORPORATION                                                            

Board of Directors                                                              


Additional information:                                                         
Mr. Kalle Tanhuanpää, President and CEO, tel. +358 (0)10 214 300.
interim-23-04-2008.pdf

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