In January–March 2023, Suominen’s net sales increased by 6% from the comparison period to €116.8 million ($129 million). Sales volumes were on the same level as in Q1/2022 despite the strikes in the Finnish ports and at its Mozzate plant in Italy. Sales prices increased following the higher raw material prices. Currencies impacted net sales positively by €3.4 million ($3.8 million).
Suominen has two business areas, Americas and Europe. Net sales of the Americas business area were €75 million ($82.8 million) and net sales of the Europe business area were €41.8 million ($46.1 million).

“For Suominen the beginning of 2023 has been challenging,” says Tommi Björnman, president & CEO. “Even though the raw material prices started to decline in the first quarter of 2023, they are still significantly higher than in the comparison period.”

He adds: “The near future continues to look challenging and the competition is fierce. The market remains unstable, and the same applies to raw material, energy and freight costs. However, we are more optimistic about the second half of the year. The raw material prices declined in Q1/2023 from the previous quarter (Q4/2022) and we are seeing signs that the raw material prices remain close to Q1/2023 level in the foreseeable future. It remains to be seen how the current economic climate impacts the end consumer demand and consumer preferences regarding wipes. Historically, the wipes market has been rather steady despite the general economic situation. All in all, we expect that our comparable EBITDA in 2023 will increase from 2022.”