Suominen announces a cost-saving program to secure profitable growth and ensure long-term competitiveness. The 24-month program is expected to result in savings of approximtely €10 million and affect up to 60 positions globally.
"We are launching a cost-saving program to address our structural costs across operations and global functions to secure profitable growth. This is a necessary step to improve our competitiveness and profitability, as we continue investing in innovation and sustainability, collaborating closely with our customers,” says President & CEO Tommi Björnman.
For the first quarter of 2025, sales increased 3.4% to €17.5 million despite lower sales volumes. Meanwhile, comparable EBITDA decreased from €4.5 million to €4.1 million due to higher operating expenses.
“The market remained volatile in the first quarter of 2025, making for a challenging start to the year," Björnman adds. "Global supply chains are being impacted by geopolitical uncertainty, particularly around tariffs, prompting stakeholders to take precautionary measures. Stock levels for Asian-imported goods are increasing across both of our business areas. Despite a decline in consumer confidence, demand for our products remained stable during the first quarter of the year."
