Nonwovens / Technical Textiles
Suominen reports moderate improvement in comparable EBITDA for full-year 2024
Key financial highlights for 2024:
Revenue: Increased by 2.5% to EUR 462.3 million (compared to EUR 450.9 million in 2023).
Comparable EBITDA: Improved to EUR 17.0 million (EUR 15.8 million in 2023).
Operating cash flow: Declined to EUR 3.9 million (EUR 30.7 million in 2023).
Earnings per share (EPS): -EUR 0.09 (compared to -EUR 0.22 in 2023).
Q4 2024 performance:
Revenue: Increased by 3% to EUR 118.5 million (EUR 114.9 million in Q4 2023).
Comparable EBITDA: Declined to EUR 4.2 million (EUR 5.3 million in Q4 2023).
Outlook for 2025:
Suominen expects an improvement in comparable EBITDA in 2025 compared to 2024. No dividend will be distributed for the financial year 2024.
CEO statement:
Tommi Björnman, President and CEO of Suominen, acknowledged the challenging geopolitical and economic environment that affected the industry, as well as increasing competition from low-cost countries, particularly in Europe. Despite these difficulties, Suominen managed to increase sales volumes, while the decline in raw material prices impacted average selling prices.
Björnman highlighted the company’s strong focus on sustainability, with sales of sustainable products growing by 87% compared to 2019, surpassing Suominen’s original 50% target. Additionally, 34% of Suominen’s net sales in 2024 came from products launched in the last three years, underlining the company's commitment to innovation and market adaptation.
Operational challenges in Q3, including unplanned production downtimes and additional costs, negatively affected results, but these issues were successfully resolved in Q4. Looking ahead, Suominen remains committed to improving operational efficiency, expanding its sustainable product portfolio, and strengthening its market position in 2025.
The full financial report is available on Suominen's official website.