Suominen : Q3 volumes low, recovery already o...

Q3 volumes low, recovery already ongoing

(Source: Pexels)
(Source: Pexels)

In its interim report for July-September 2021 (Q3/2021), figures from Suominen show that net sales decreased by 14.5% to €98.7 million.  EBITDA for the same time period decreased to €4.2 million (Q3/2020: €18.1 million).
For the first 3 quarters (January-September 2021), net sales decreased 5.8% and were €327.6 million. Here, EBITDA decreased to €38.1 million (2020: €47.4 million) 
Suominen Corp., Helsinki/Finland, has 2 business areas, Americas and Europe. In Q3/2021 net sales of the Americas business area amounted to €57.0 million (Q3/2020: €71.9 million) and net sales of the Europe business area to €41.6 million (Q3/2020: €43.5 million).
The company expects that its comparable EBITDA (earnings before interest, taxes, depreciation and amortization) in 2021 will decrease from 2020 due to the slowdown in the demand for nonwovens in the 2nd half (H2) of 2021 as well as some continuing volatility in the raw material and transportation markets and will amount to €47-53 million. In 2020, Suominen’s comparable EBITDA was €60.9 million. 
The corona virus pandemic has increased the demand for products in all the company’s markets. Towards the end of Q2/2021, demand started to decelerate especially in North America, but demand has started to recover in late Q3. In the long run the market and Suominen’s expectation is that demand will remain above pre-Covid-19 levels. 

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