The demand for nonwovens is growing globally. The market for spunlace, the nonwovens technology where Suominen is the leader with the largest global asset base, will grow in all regions. Legislation and consumer behavior drive for more sustainable products, and Suominen has excellent opportunities to serve this changing market. Suominen will further strengthen its capabilities in Europe and Americas and will continue to evaluate opportunities in Asia, which is the largest nonwovens market in the world.
Suominen’s five focus areas to achieve its strategic targets:
- Operational excellence: Improving efficiency and cost consciousness across the organization
- Sustainability leadership: Leveraging its pioneering fiber-based nonwovens know-how and unique assets to lead the market with sustainability
- Differentiate with innovation and commercial excellence: Creating closer customer relationships and offering best in class products and services
- Great place to work: Harnessing the positive energy and commitment to deliver results
- Dual operating model: Optimizing its operations and improving results by managing two different types of business, specialties and standard
Suominen's Board of Directors has set the following financial targets for the strategy period 2020-2025:
- Net sales growth during the period: above relevant market growth
- EBITDA margin by 2025: above 12%
- Gearing during the period: 40-80%, including the effect of IFRS 16 Leases
“Our vision is to be the frontrunner for nonwovens innovation and sustainability," says Petri Helsky, president and CEO of Suominen Corporation. "We will ensure our leadership with future-oriented R&D and by accelerating the commercialization of our innovations.
"There are two targets that we aim to achieve with this strategy: growth and improved profitability. We believe that we can grow together with our customers in the changing market by offering sustainable products which the end users are increasingly demanding. Profitability will be improved also by investing in upgrading our assets, new product development, and our operational excellence initiatives.
"Our new organization structure which has been in place since July 2019 supports this new strategy and together with our committed personnel we continue to build the future success of Suominen.”