Tara Olivo, associate editor08.30.17
During Suominen’s second quarter teleconference on August 9, president and CEO Nina Kopola discussed the highs and lows of the quarter, gave an update on the company’s new Bethune, SC, line, and outlined its strategy through the year 2021.
In the second quarter, the Finnish nonwovens producer’s net sales grew by 3%, compared to the second quarter of last year, to €112 million ($132 million). Improved sales volumes drove sales in the quarter, while, to minor extent, the U.S. dollar exchange rate improved the sales with €1.5 million compared to last year, Kopola said.
While net sales increased, it did not lead to better profitability, which was partly due to weaker sales mix and lower sales prices. “The weaker sales mix led to a decrease of higher added value products in our portfolio, but also the cost linked to investments into our growth strategy were higher than previous years in the second quarter, even though they were not unanticipated,” Kopola told investors.
In discussing its lower sales prices, Kopola cited the competitive situation in no
In the second quarter, the Finnish nonwovens producer’s net sales grew by 3%, compared to the second quarter of last year, to €112 million ($132 million). Improved sales volumes drove sales in the quarter, while, to minor extent, the U.S. dollar exchange rate improved the sales with €1.5 million compared to last year, Kopola said.
While net sales increased, it did not lead to better profitability, which was partly due to weaker sales mix and lower sales prices. “The weaker sales mix led to a decrease of higher added value products in our portfolio, but also the cost linked to investments into our growth strategy were higher than previous years in the second quarter, even though they were not unanticipated,” Kopola told investors.
In discussing its lower sales prices, Kopola cited the competitive situation in no
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