Suominen has two business areas, Convenience and Care. The Convenience business area supplies nonwovens as roll goods for a wide range of wiping applications. The Care business area manufactures nonwovens for hygiene products and medical applications. Net sales of the Convenience business area amounted to €95.6 million ($109.2 million) and net sales of the Care business area amounted to €9.1 million ($10.4 million).
Suominen’s operating profit in the quarter declined by 89% from the comparison period and amounted to €0.5 million ($0.57 million), mainly due to the significantly increased costs of several of its key resources, including raw materials, energy and logistics and a slower than expected impact of the 3P program, which focuses on improving Suominen’s profitability through Pricing, Performance and Planning. At the same time there is overcapacity on the markets. The impact of sales price increases was not yet material in operating profit. The effect of U.S. dollar exchange rate fluctuation had no material impact on operating profit.