Suominen: Strong H1/2020 results and high dem...
Suominen

Strong H1/2020 results and high demand for face mask nonwovens

Pexels

Demand for hygiene nonwovens increased as a result of the corona pandemic, especially in the 2nd quarter (Q2) 2020. In 1st half year (H1) 2020 the net sales of nonwovens producer Suominen Corp, Helsinki/Finland, increased by 8.8% to €232.4 million. The sales of the Americas business area were €150.3 million (+12.7%) and of the Europe business area € 82.1 million (+ 2.2%).

Operation profit went up from €5.6 million in H1/2019 to €18.1 million in H1/2020. Suominen especially achieved record high quarterly net sales and operating profit in Q2/2020. Sales volumes increased considerably but sales prices decreased following lower raw material prices.
The main driver for the volume increase was higher demand of wipes due to the Covid-19 pandemic. By running production efficiently despite the challenges caused by the pandemic, demand could be met. Even though a higher demand is expected to continue for the coming months, the production volumes during H2/2020 will be impacted negatively by scheduled maintenance stoppages at several of Suominen’s plants.
In the longer term, the corona pandemic may lead to a continued increase in demand for nonwovens for cleaning and disinfection products.

Topics
Helsinki America

Your Newsletter for the Textile Industry

From the industry for the industry – sign up for your free newsletter now

 
stats