From January-June 2022 (H1/2022), Suominen’s net sales were in line with the previous year and amounted to €228.3 million (H1/2021: €229.0 million). Sales volumes decreased from H1/2021 while sales prices were higher. The impact of currencies on net sales was positive €12.6 million.
The net sales of the Americas business area were €126.0 million (H1/2021: €139.3 million) and of the Europe business area €102.3 million (H1/2021: €89.7 million).
Earnings before interest, taxes, depreciation and amortization (EBITDA) declined to €5.2 million (H1/2021: 33.8 million). The decrease was driven especially by lower sales and production volumes. Higher raw material, energy and logistics costs also impacted the result negatively even though these were partially compensated by higher sales prices.
In Q2/2022, Suominen announced an investment to enhance and upgrade one of their lines in Nakkila/Finland. This investment strengthens the company’s capabilities in sustainable products and is made in line with its strategy to be the frontrunner in sustainable nonwovens.
For the full year, Suominen Corp., Helsinki/Finland, expects that its comparable EBITDA in 2022 will decrease clearly from 2021. The war in Ukraine has increased the already significant cost inflation in raw materials, energy, and transportation. Also, while there has been progress in the normalization of the customer inventory levels in the USA, it has been somewhat slower than expected. These factors will impact the full year result negatively even though it is expected that the demand will improve in H2/2022.