In the fourth quarter of 2015, Suominen’s net sales decreased by 0.5% from the comparison period to €104.2 million ($113.7 million). The net sales development was attributable to, among other things, postponing of orders by some customers until after the turn of the year. The strengthening of the U.S. dollar compared to euro, Suominen’s reporting currency, increased the net sales by €11 million ($12 million) in the fourth quarter. Suominen has two business areas, Convenience and Care. Net sales of Convenience business area were €96.4 million ($105.7 million) and net sales of Care business area €7.8 million ($8.5 million) in the fourth quarter. The Convenience business area supplies nonwovens as roll goods for wiping products. The Care business area manufactures nonwovens for hygiene products and medical applications.
President & CEO Nina Kopola comments: “North America and Europe are Suominen’s main market areas. In the U.S., the consumer confidence index declined slightly, but remained at a good level. In the euro area, the index rose marginally in the fourth quarter and was clearly at a higher level than it was in the comparison period.
“In South America, particularly in Brazil, the accelerated economic growth of recent years reversed. Contrary to what one might think, this was not reflected in our business operations in the area. The Paulínia plant in Brazil was integrated into Suominen in early 2014, and since then we have proceeded in the South American market as planned.
“Suominen’s financial development during the full 2015 financial year corresponded to our positive outlook, which we updated in October, even though the fourth quarter development fell short of expectations as some customers postponed their orders until after the turn of the year.”