President & CEO’s review of the year 2025
At Suominen, we are at a turning point. In 2025, Suominen’s financial results and delivery reliability did not meet our expectations. While we faced challenges in our operational reliability and overall performance, the year was also marked by forward-looking investments.
President & CEO Charles Héaulmé
In 2025, the nonwovens market continued its growth trajectory, with the wipes segment benefiting from the rapid expansion of the moist toilet tissue category in the United States. Market dynamics were affected by excess capacity, and changes in global trade flows linked to evolving trade policies. Imports from low-cost producers intensified, creating additional price and supply disruption.
Our net sales reached EUR 412.4 million (EUR 462.3 million in 2024), reflecting lower volumes and negative currency translation. Two significant incidents at our US facilities constrained our supply capabilities, negatively impacting both sales and profitability in the second half of the year. These supply interruptions prompted some US customers to temporarily seek alternative sources, further increasing import pressures. Our full-year comparable EBITDA was EUR 12.6 million (EUR 17.0 million), with the primary driver of the decline being reduced sales volumes, partially offset by our cost-saving initiatives.
Throughout 2025, we executed our strategic initiatives as planned. Our investment in a new production line in Alicante, Spain, announced in 2024 to enhance our sustainable product capabilities, progressed towards commercial production commencing at the beginning of the second quarter of 2026. Overall, new products accounted for 27% of net sales.
To improve our profitability, we launched a cost-saving program at the end of the second quarter, targeting approximately EUR 10 million in benefits over 24 months. Implementation advanced steadily, delivering results in line with our original plan. Despite these initial productivity gains, Suominen’s financial results did not meet expectations. Accordingly, we conducted a comprehensive analysis to identify opportunities for significantly changing the performance trajectory.
We are at a turning point. To restore performance and build a foundation for future success, we have sharpened our strategic focus to what matters most right now.
Only by improving the reliability and efficiency of our production and supply, and by strengthening our commercial capabilities, can we fully meet the expectations of our customers and shareholders. This is the first, and most urgent, phase of our journey. We will upgrade our manufacturing capabilities, embed continuous improvement across all processes, and exemplify a culture of accountability. This is why, in January 2026, we announced the undertaking of an ambitious transformation to unlock the company’s full potential. The first phase focuses on resetting profitability through a comprehensive three-year Full Potential Program that captures improvement opportunities across the organization. Once we have successfully initiated this short-term plan, we will establish longer-term strategic and financial objectives. These new targets will reflect our renewed ambition and commitment to sustainable profitable growth, innovation, and industry leadership.
Achieving these goals requires more than just new processes or tools. It calls for the right operating model, mirroring the needs of our customers and factories, and enabling expertise and effectiveness at every level.
Most importantly, lasting change depends on our culture. To set ourselves up for success in driving the Full Potential Program, we are deploying a company-wide culture transformation, anchored in our renewed values. Together, we are building a culture that powers our transformation into One Suominen, committed to safety, bold in innovation, accountable in action, and united in success.
By building a culture of accountability and collaboration, we empower everyone at Suominen to contribute to our shared ambition: to become an industry leader, trusted by customers and partners, and united as One Suominen.
Our cultural ambition is bold: Suominen aims to be a zero-accident workplace, a quality and sustainability champion, innovative and profitable, trusted by customers and shareholders.
I want to express my sincere gratitude to everyone who makes Suominen. To our employees, thank you for your dedication, resilience, and commitment. To our customers and partners, thank you for your trust and collaboration. To our shareholders, thank you for your continued confidence and support as we invest for long-term, sustainable growth.
Together, we will turn this moment into momentum and build the Suominen we know we can be.
Charles Héaulmé
President & CEO