Suominen has released its third quarter results for 2010. The company generated net sales of $61 million in the third quarter. Operating profit was -$3 million.
Net sales for the nine-month period totaled $179 million, a decline of 5% compared to the same period in 2009. The decline was attributed to the decline in the prices of wet wipes in the beginning of the year and the decline in the delivery volumes of nonwovens.
During the period under review, net sales of the wiping business area decreased 8% to $110 million. The business area’s operating profit was -$3 million.
Net sales of nonwovens decreased 8% to $57 million. Sales of thermobonded hygiene products material clearly decreased. Delivery volumes of hydroentangled wiping materials fell, while the sales of materials used in health care remained at the previous level. Sales in the U.S. markets clearly declined in comparison with the corresponding period in the previous year. However, sales in the third quarter in the Russian and U.S. markets clearly increased compared to the previous quarters.
Production was low during the summer due to the holiday shutdown, but since then, the hydroentanglement lines have been operating at a good level. The cost of main raw materials continued to rise until summer, then slowed down and partly leveled off.
Net sales of Codi Wipes reached $60 million, a drop of 10% over the previous year. Sales of baby wipes and moist toilet wipes decreased while sales of personal care wipers were higher than a year earlier. Although average sales prices are lower than in the previous year, during 2010 they have remained stable. As a result of savings measures, the unit’s operating costs have decreased since the previous year.