Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
Suominen Corporation
as an investment
30 June 2016
Tapio Engström, CFO
Anu Heinonen, VP, Corporate Communications & IR
Our purpose is to make nonwovens continuously better for people.
Contents
• Suominen at a glance
• Nonwovens markets
• Str...
Our purpose is to make nonwovens continuously better for people.
Suominen
at a glance
36/30/2016
Our purpose is to make nonwovens continuously better for people.
Indicative customers
Our operations, customers and end us...
Our purpose is to make nonwovens continuously better for people.
Recent history: Determined progress towards growth
5
2012...
Our purpose is to make nonwovens continuously better for people.
Eight nonwovens plants in three continents serving both b...
Our purpose is to make nonwovens continuously better for people.
Locations in three continents close to customers
Green Ba...
Our purpose is to make nonwovens continuously better for people.
Nonwovens
markets
86/30/2016
Our purpose is to make nonwovens continuously better for people.
Historically, growth in demand for nonwovens has
exceeded...
Our purpose is to make nonwovens continuously better for people.
We are the global leader in nonwovens for wipes
Suominen ...
Our purpose is to make nonwovens continuously better for people.
Demand for Suominen nonwovens is expected
to grow globall...
Our purpose is to make nonwovens continuously better for people.
GDP per capita
Demand for Suominen’s products is growing ...
Our purpose is to make nonwovens continuously better for people.
We hold the leading market position in Convenience,
still...
Our purpose is to make nonwovens continuously better for people.
Strategy for
2015-2017
146/30/2016
Our purpose is to make nonwovens continuously better for people.
Suominen’s strategy 2015–2017
15
Market Driven Product Le...
Our purpose is to make nonwovens continuously better for people.
In this strategy period, we aim at growth and clear
shift...
Our purpose is to make nonwovens continuously better for people.
Understanding the end user needs is
at the heart of our s...
Our purpose is to make nonwovens continuously better for people.
Strategy
implementation
186/30/2016
Our purpose is to make nonwovens continuously better for people.
Suominen’s strategy 2015–2017
19
Market Driven Product Le...
Our purpose is to make nonwovens continuously better for people.
Deliver superior value
in selected market
applications
Ke...
Our purpose is to make nonwovens continuously better for people.
The growth investment program now focusing on
the Bethune...
Our purpose is to make nonwovens continuously better for people.
Product Development function enhanced
determinedly
22
Enh...
Our purpose is to make nonwovens continuously better for people. 23
Six new products launched in 2015
Five for Care, one f...
Our purpose is to make nonwovens continuously better for people.
Drive proactive key
account management for
mutual value c...
Our purpose is to make nonwovens continuously better for people.
Execute demand
driven supply chain
Key activities by focu...
Our purpose is to make nonwovens continuously better for people.
Evolve culture and
capabilities to build strong
product c...
Our purpose is to make nonwovens continuously better for people.
Progress in strategic sustainability initiatives
Implemen...
Our purpose is to make nonwovens continuously better for people.
5,0 %
12,4 %
15,7 % 15,9 %
14,7 %
0%
5%
10%
15%
20%
2012 ...
Our purpose is to make nonwovens continuously better for people.
Key elements
of profitability
296/30/2016
Our purpose is to make nonwovens continuously better for people.
Portfolio change drives top line growth
40%
17%
11%
22%
7...
Our purpose is to make nonwovens continuously better for people.
9,0%
10,7%
12,4% 13,1%
0%
3%
6%
9%
12%
15%
2012 2013 2014...
Our purpose is to make nonwovens continuously better for people.
Raw materials – The logic
• Roughly 60–70% of costs are r...
Our purpose is to make nonwovens continuously better for people.
EUR/USD – A factor to pay attention to
• We have estimate...
Our purpose is to make nonwovens continuously better for people.
Financial review
Q1 2016
346/30/2016
Our purpose is to make nonwovens continuously better for people.
Net sales declined by 7.2%
Net sales, EUR million Net sal...
Our purpose is to make nonwovens continuously better for people.
Proportion of sales of products with
higher added value g...
Our purpose is to make nonwovens continuously better for people.
6,5 % 5,8 %
5.0 %
5,9 %
6,5 %
8,8 % 8,5 %
4,1 %
5,3 %
0%
...
Our purpose is to make nonwovens continuously better for people.
Profit for the reporting period
remained more or less unc...
Our purpose is to make nonwovens continuously better for people.
Statement of profit or loss
EUR thousands 1-3/2016 1-3/20...
Our purpose is to make nonwovens continuously better for people.
Statement of financial positions, assets
EUR thousands 31...
Our purpose is to make nonwovens continuously better for people.
Statement of financial positions, equity and liabilities
...
Our purpose is to make nonwovens continuously better for people.
Cash flow from operations doubled
from the comparison per...
Our purpose is to make nonwovens continuously better for people.
Statement of cash flows (1/2)
EUR thousands 1-3/2016 1-3/...
Our purpose is to make nonwovens continuously better for people.
Statement of cash flows (2/2)
EUR thousands 1-3/2016 1-3/...
Our purpose is to make nonwovens continuously better for people.
Outlook for 2016 remains unchanged
• Suominen expects tha...
Our purpose is to make nonwovens continuously better for people.
Summary: Suominen as an investment
Promising track record...
Thank you!
476/30/2016
Upcoming SlideShare
Loading in …5
×

Suominen at Mid Small Cap Forum with Lond Capital

345 views

Published on

'Suominen as an investment' presentation at Mid Small Cap Forum with Lond Capital held on 30 June 2016 at Zurich, Switzerland.

Published in: Investor Relations
  • Be the first to comment

  • Be the first to like this

Suominen at Mid Small Cap Forum with Lond Capital

  1. 1. Suominen Corporation as an investment 30 June 2016 Tapio Engström, CFO Anu Heinonen, VP, Corporate Communications & IR
  2. 2. Our purpose is to make nonwovens continuously better for people. Contents • Suominen at a glance • Nonwovens markets • Strategy for 2015 – 2017 and its implementation - Progress on mid-term financial targets • Key elements of profitability 26/30/2016
  3. 3. Our purpose is to make nonwovens continuously better for people. Suominen at a glance 36/30/2016
  4. 4. Our purpose is to make nonwovens continuously better for people. Indicative customers Our operations, customers and end users 4 Suominen End use applications 6/30/2016
  5. 5. Our purpose is to make nonwovens continuously better for people. Recent history: Determined progress towards growth 5 2012 – 2014 Putting the house in order 2015 – 2017: Heading to organic growth 2018  Future Suominen Cost cutting Restructuring Reorganizing Refinancing Net sales 356.9 M€ Gearing 101.0% Growth strategy Investment program Focus on products with higher value added Stronger R&D Net sales 444.0 M€ Gearing 25.9% Net sales at the end of 2017: ~500 M€ 6/30/2016
  6. 6. Our purpose is to make nonwovens continuously better for people. Eight nonwovens plants in three continents serving both business areas Two business areas – Convenience and Care 6 93% of Suominen’s net sales 7% of Suominen’s net sales • Main end use areas: - Hygiene products (femcare, incontinence, diapers) - Medical nonwovens (e.g. swabs, undercast pads, surgical drapes and masks) • Net sales of the business area (2015) 32.4 M€ • Main end use areas: - Wiping (baby, household, personal care , industrial wipes - Travel & catering applications • Net sales of the business area (2015): 411.5 M€ Convenience Care 6/30/2016
  7. 7. Our purpose is to make nonwovens continuously better for people. Locations in three continents close to customers Green Bay, WI, USA Windsor Locks, CT, US Bethune, SC, US Paulínia, Brazil Alicante, Spain Mozzate, Italy Nakkila, Finland Cressa, Italy Helsinki, Finland (Head office) Sales representatives present in several locations in Asia Pacific 76/30/2016
  8. 8. Our purpose is to make nonwovens continuously better for people. Nonwovens markets 86/30/2016
  9. 9. Our purpose is to make nonwovens continuously better for people. Historically, growth in demand for nonwovens has exceeded the growth of the GDP USA Europe -4% -2% 0% 2% 4% 6% 8% 10% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 GDP Nonwoven demand In Europe, GDP growth is for euro area. For nonwovens demand, the graphs illustrate the change in the value (USD) of nonwoven demand. -10% -5% 0% 5% 10% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 GDP Nonwoven demand 96/30/2016
  10. 10. Our purpose is to make nonwovens continuously better for people. We are the global leader in nonwovens for wipes Suominen #1 Wiping ~2.1 billion euros Other key producers • Kimberly-Clark • Jacob Holm • Sandler • Berry Plastics (ex- AVINTIV) Suominen ~20% Global nonwovens market totaling ~26 billion euros Other key producers • Kimberly-Clark • Berry Plastics (ex-AVINTIV) • Fiberweb • First Quality Nonwovens • Pegas Nonwovens Other key producers • Kimberly-Clark • Ahlstrom • Freudenberg • DuPont • First Quality Nonwovens Upholstery 10% Other 27% Building/roofing 7% Filtration 9% Floor coverings 6% Automotive 5% Wiping 8% Medical 3% Hygiene 25% 106/30/2016
  11. 11. Our purpose is to make nonwovens continuously better for people. Demand for Suominen nonwovens is expected to grow globally, driven by several megatrends +2% +7% +2–6% +7% +8% Global growth rate ~5% Growth rate for Suominen regions ~3% Aging population Everyday convenience Health and well-being trends Growing population and middle class Growing population and middle class 116/30/2016
  12. 12. Our purpose is to make nonwovens continuously better for people. GDP per capita Demand for Suominen’s products is growing both in emerging and developed markets 12 Household wipes Incontinence products Baby wipes Disposable diapers Feminine care products USD 14 000+ USD 7 000+ USD 10 000+ USD 4 000+ USD 1 000+ 6/30/2016
  13. 13. Our purpose is to make nonwovens continuously better for people. We hold the leading market position in Convenience, still a challenger Care 13 TOP1 0 #1 Challenger in nonwovens for medical & hygiene products (Care business area) Global market leader in nonwovens for wipes (Convenience business area) Ninth-largest of all nonwovens suppliers globally 6/30/2016
  14. 14. Our purpose is to make nonwovens continuously better for people. Strategy for 2015-2017 146/30/2016
  15. 15. Our purpose is to make nonwovens continuously better for people. Suominen’s strategy 2015–2017 15 Market Driven Product Leader Vision Business strategy 1. Deliver superior value in thoughtfully selected market applications. 2. Drive proactive key account management. 3. Execute demand driven supply chain. 4. Evolve culture and capabilities to build strong product company. Our purpose is to make nonwovens continuously better for people Purpose 156/30/2016
  16. 16. Our purpose is to make nonwovens continuously better for people. In this strategy period, we aim at growth and clear shift in product portfolio 40% 17% 11% 22% 7% 2015 (Total net sales 444.0 M€) Baby wiping Household wiping Workplace wiping Personal care wiping Medical and hygiene products 2017 (approx. 500 M€) Illustrative. 16166/30/2016
  17. 17. Our purpose is to make nonwovens continuously better for people. Understanding the end user needs is at the heart of our strategy 176/30/2016
  18. 18. Our purpose is to make nonwovens continuously better for people. Strategy implementation 186/30/2016
  19. 19. Our purpose is to make nonwovens continuously better for people. Suominen’s strategy 2015–2017 19 Market Driven Product Leader Vision Business strategy 1. Deliver superior value in thoughtfully selected market applications. 2. Drive proactive key account management. 3. Execute demand driven supply chain. 4. Evolve culture and capabilities to build strong product company. Our purpose is to make nonwovens continuously better for people Purpose 196/30/2016
  20. 20. Our purpose is to make nonwovens continuously better for people. Deliver superior value in selected market applications Key activities in delivering superior value 20 ~60 M€ growth investment program, initiatives on three continents Product development process enhanced Six new products launched 1 6/30/2016
  21. 21. Our purpose is to make nonwovens continuously better for people. The growth investment program now focusing on the Bethune investment Plant Estimated value Installed during Bethune approx. EUR 50 million H2/2016 Alicante approx. EUR 4 million 2015Nakkila Paulínia To be confirmed approx. EUR 6 million 21 Bethune, SC, USA Paulínia, Brazil Alicante, Spain Nakkila, Finland 6/30/2016
  22. 22. Our purpose is to make nonwovens continuously better for people. Product Development function enhanced determinedly 22 Enhancing capabilities • Innovation process, “Suominen Innovation Machine” - Front End Innovation - Creating a prioritized project portfolio - Introduction of formal gate process for running projects Enhancing capacity • Creating critical mass - R&D expenditure to increase to above 1% of net sales (0.8% in 2015) - Four new people employed in 2015, two of them PhDs - Centralizing resources 6/30/2016
  23. 23. Our purpose is to make nonwovens continuously better for people. 23 Six new products launched in 2015 Five for Care, one for Convenience business 6/30/2016
  24. 24. Our purpose is to make nonwovens continuously better for people. Drive proactive key account management for mutual value creation Key activities by focus area 24 Creating value together with customer by, for example, organizing events Listening to the customer: Utilizing the Customer Perception Survey results 2 6/30/2016
  25. 25. Our purpose is to make nonwovens continuously better for people. Execute demand driven supply chain Key activities by focus area 25 Defining and implementing standardized global processes 3 Comprehensive ICT systems renewal – aim at an efficient, global supply chain 6/30/2016
  26. 26. Our purpose is to make nonwovens continuously better for people. Evolve culture and capabilities to build strong product company Key activities by focus area 26 4 Pivotal recruitments building new and enhanced capabilities in several areas Strategic sustainability initiatives in progress, e.g., blind recruiting 6/30/2016
  27. 27. Our purpose is to make nonwovens continuously better for people. Progress in strategic sustainability initiatives Implementation of the Supplier Code of Conduct Product sustainability review Non-Discrimination and Equal Opportunities Program: Blind hiring and salary study Material and resource efficiency: Among other things, water and energy efficiency improved Achieving product leadership Fostering responsibility throughout the value chain Operating sustainably throughout the organization 4 276/30/2016
  28. 28. Our purpose is to make nonwovens continuously better for people. 5,0 % 12,4 % 15,7 % 15,9 % 14,7 % 0% 5% 10% 15% 20% 2012 2013 2014 2015 Q1/2016 ROI, % 6,9 % 3,5 % 0,8 % 0% 2% 4% 6% 8% 10% 12% 2013 2014 2015 Organic net sales growth, % 101 % 96,2 % 34,7 % 25,9 % 28,6 % 0% 20% 40% 60% 80% 100% 120% 2012 2013 2014 2015 Q1/2016 Gearing, % Progress on mid-term financial targets • Net sales growth compared to previous year. • Target level marked with dashed line. • Figures are of continuing operations. 286/30/2016
  29. 29. Our purpose is to make nonwovens continuously better for people. Key elements of profitability 296/30/2016
  30. 30. Our purpose is to make nonwovens continuously better for people. Portfolio change drives top line growth 40% 17% 11% 22% 7% 2015 (444.0 M€) 2017 (~500 M€) Illustrative. • Portfolio change is increasing the share of higher value added products in our portfolio • Envisioned healthy volume growth supports the profitability development 47% 19% 10% 18% 6% 2012 (357.9 M€) Baby wipes Household wipes Workplace wipes Personal care wipes Hygiene and medical products Others 306/30/2016
  31. 31. Our purpose is to make nonwovens continuously better for people. 9,0% 10,7% 12,4% 13,1% 0% 3% 6% 9% 12% 15% 2012 2013 2014 2015 Gross profit, % of net sales Positive development in gross profit, SGA costs and operating profit 31 6,6% 6,0% 5,8% 5,7% 0% 2% 4% 6% 8% 2012 2013 2014 2015 SGA, % of net sales *Excluding non-recurring items 4,2% 5,2% 6,7% 7,0% 0% 2% 4% 6% 8% 2012 2013 2014 2015 Operating profit*, % of net sales 6/30/2016
  32. 32. Our purpose is to make nonwovens continuously better for people. Raw materials – The logic • Roughly 60–70% of costs are raw materials. • As one of the largest nonwovens producers in the world, we maintain long relationships with key suppliers. • Contracts covering ca. 50% of our net sales include a pass-through clause. • Between raw materials for fibers and the final fiber, there are intermediate steps and in that value chain market dynamics are in play. • Raw materials are not hedged as correlations are not predictable. 32 30% 23% 23% 21% 3% Viscose Pulp Polypropene* Polyester Other * Including sourced PP Spunbond. 6/30/2016
  33. 33. Our purpose is to make nonwovens continuously better for people. EUR/USD – A factor to pay attention to • We have estimated that 10% change in EUR/USD exchange rate should have, based on the current business structure, on a full year basis, approximately 2.5 MEUR effect on operating profit. 336/30/2016
  34. 34. Our purpose is to make nonwovens continuously better for people. Financial review Q1 2016 346/30/2016
  35. 35. Our purpose is to make nonwovens continuously better for people. Net sales declined by 7.2% Net sales, EUR million Net sales, EUR million 98,4 95,3 103,3104,8 111,9112,9114,9 104,2 103,9 0 20 40 60 80 100 120 140 356,9 373,7 401,8 444,0,0 0 100 200 300 400 500 2012 2013 2014 2015 • Net sales decreased from the comparison period to EUR 103.9 million. Demand was not at the same level as in the comparison period. This also affected the competitive situation. • Net sales were affected by both decreased sales volumes and lower sales prices in approximately equal proportions. • We saw signs of improvement in demand already towards the end of the review period. Continuing operations. Continuing operations. 356/30/2016
  36. 36. Our purpose is to make nonwovens continuously better for people. Proportion of sales of products with higher added value grew 41% 22% 15% 12% 8% 38% 25% 18% 10% 8% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% Q1/15 Q1/16 Q1/15 Q1/16 Q1/15 Q1/16 Q1/15 Q1/16 Q1/15 Q1/16 Typically higher value-added products Baby wipes Personal care wipes Household Workplace Hygiene and medical products 366/30/2016
  37. 37. Our purpose is to make nonwovens continuously better for people. 6,5 % 5,8 % 5.0 % 5,9 % 6,5 % 8,8 % 8,5 % 4,1 % 5,3 % 0% 2% 4% 6% 8% 10% 0 2 4 6 8 10 Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 EUR million % Operating profit decreased from the comparison period Operating profit excl. NRI, EUR million and % Operating profit excl. NRI, EUR million and % • Operating profit decreased by 24.0% and amounted to EUR 5.5 million. • Lower sales volumes and decrease in gross profit affected operating profit. There was no material effect of US dollar exchange rate fluctuation on operating profit during the first quarter. Continuing operations. 4,2 % 5,2 % 6,7 % 7,0 % 0% 1% 2% 3% 4% 5% 6% 7% 8% 0 5 10 15 20 25 30 35 2012 2013 2014 2015 EUR million % Continuing operations. 376/30/2016
  38. 38. Our purpose is to make nonwovens continuously better for people. Profit for the reporting period remained more or less unchanged Profit for the reporting period, EUR million Profit for the reporting period, EUR million 2,6 2,2 0,6 4,8 3,5 6,2 5,4 1,9 3,4 0 1 2 3 4 5 6 7 -2,8 5,7 10,2 17,0 -5 0 5 10 15 20 Continuing operations. Continuing operations. 2012 2013 2014 2015 • Profit for the reporting period was strengthened mainly by lower financial expenses. 386/30/2016
  39. 39. Our purpose is to make nonwovens continuously better for people. Statement of profit or loss EUR thousands 1-3/2016 1-3/2015 1-12/2015 Net sales 103,869 111,934 444,042 Cost of goods sold -92,077 -97,547 -386,042 Gross profit 11,792 14,387 58,000 Other operating income 629 950 2,637 Sales and marketing expenses -1,758 -1,902 -7,760 Research and development -837 -851 -3,527 Administration expenses -4,339 -4,681 -16,709 Other operating expenses 55 -611 -862 Operating profit 5,543 7,292 31,778 Net financial expenses -244 -1,621 -5,302 Profit before income taxes 5,299 5,671 26,476 Income taxes -1,858 -2,188 -9,456 Profit for the period 3,441 3,482 17,020 Gross profit did not reach the level of the comparison period Cost structure continues on a healthy level Fluctuations in exchange rates decreased the financial items markedly below the level of the comparison period 396/30/2016
  40. 40. Our purpose is to make nonwovens continuously better for people. Statement of financial positions, assets EUR thousands 31.3.2016 31.3.2015 31.12.2015 Non-current assets Goodwill 15,496 15,496 15,496 Intangible assets 13,411 12,598 13,275 Property, plant and equipment 94,173 92,197 97,931 Loan receivables 7,793 8,202 7,793 Available-for-sale assets 777 1,113 777 Held-to-maturity investments − 433 − Other non-current receivables 2,442 2,518 2,402 Deferred tax assets 4,529 5,276 4,491 Total non-current assets 138,621 137,833 142,165 Current assets Inventories 31,816 30,914 32,557 Trade receivables 52,151 60,599 51,547 Loan receivables 1,000 600 1,000 Other current receivables 5,183 4,108 7,038 Assets for current tax 1,892 1,381 1,874 Cash and cash equivalents 53,065 38,036 55,570 Total current assets 145,107 135,639 149,585 Total assets 283,728 273,472 291,750 Elevated cash. Payments in our growth investment program will bring cash level closer to normal 406/30/2016
  41. 41. Our purpose is to make nonwovens continuously better for people. Statement of financial positions, equity and liabilities EUR thousands 31.3.2016 31.3.2015 31.12.2015 Share capital 11,860 11,860 11,860 Share premium account 24,681 24,681 24,681 Reserve for invested unrestricted equity 69,652 69,572 69,652 Treasury shares -44 -44 -44 Fair value and other reserves 500 14 -118 Exchange differences 1,660 8,216 5,097 Other equity -4,775 -15,901 -3,076 Total equity attributable to owners of the parent 103,534 98,398 108,052 Hybrid bond 17,272 16,653 17,664 Total equity 120,806 115,051 125,716 Liabilities Non-current liabilities Deferred tax liabilities 10,411 9,832 10,890 Liabilities from defined benefit plans 1,105 1,151 1,105 Other non-current liabilities 258 1,303 651 Debentures 75,000 75,000 75,000 Other non-current interest-bearing liabilities 18,058 6,667 18,498 Total non-current liabilities 104,831 93,953 106,144 Current liabilities Current interest-bearing liabilities 3,318 3,333 3,363 Liabilities for current tax 764 941 47 Trade payables and other current liabilities 54,010 60,194 56,479 Total current liabilities 58,092 64,468 59,889 Total liabilities 162,923 158,421 166,034 Total equity and liabilities 283,728 273,472 291,750 Payment of dividend the only notable transaction 416/30/2016
  42. 42. Our purpose is to make nonwovens continuously better for people. Cash flow from operations doubled from the comparison period Cash flow from operations, EUR million Cash flow from operation, EUR million -0,4 11,3 16,9 9,3 4,5 3,9 7,9 11,0 9,1 -2 0 2 4 6 8 10 12 14 16 18 24,9 21,3 37,1 27,3 0 5 10 15 20 25 30 35 40 2012 2013 2014 2015 • Cash flow from operations was mainly improved due to a decrease in paid financial items as well as positive change in working capital 426/30/2016
  43. 43. Our purpose is to make nonwovens continuously better for people. Statement of cash flows (1/2) EUR thousands 1-3/2016 1-3/2015 1-12/2015 Cash flow from operations Profit / loss for the period 3,441 3,482 17,020 Total adjustments to profit / loss for the period 6,852 8,319 32,870 Cash flow before changes in net working capital 10,292 11,802 49,890 Change in net working capital 1,368 -107 -7,921 Financial items -1,828 -5,317 -6,425 Income taxes -714 -1,886 -8,269 Cash flow from operations 9,118 4,493 27,274 Cash flow from investments Investments in property, plant and equipment and intangible assets -3,849 -1,664 -22,369 Cash flow from disposed businesses − − 167 Sales proceeds from property, plant and equipment and intangible assets − 10 10 Cash flow from investments -3,849 -1,654 -22,192 Improved cash flow from operations attributable to all components Investments continued 436/30/2016
  44. 44. Our purpose is to make nonwovens continuously better for people. Statement of cash flows (2/2) EUR thousands 1-3/2016 1-3/2015 1-12/2015 Cash flow from financing Drawdown of other non-current interest-bearing liabilities − − 15,000 Repayment of other non-current interest-bearing liabilities − − -3,333 Changes in current interest-bearing liabilities − -14 -14 Changes in loan receivables − − 600 Share issue − 340 340 Paid interest on hybrid bond -624 − − Dividend distribution / distribution of funds -5,030 -2,504 -2,504 Cash flow from financing -5,654 -2,177 10,089 Change in cash and cash equivalents -385 662 15,171 Cash and cash equivalents at the beginning of the period 55,570 38,430 38,430 Effect of changes in exchange rates -2,120 -1,056 1,968 Change in cash and cash equivalents -385 662 15,171 Cash and cash equivalents at the end of the period 53,065 38,036 55,570 Strong cash flow covered both the investments and the payment of dividend 446/30/2016
  45. 45. Our purpose is to make nonwovens continuously better for people. Outlook for 2016 remains unchanged • Suominen expects that for the full year 2016, its net sales and operating profit excluding non-recurring items will improve from year 2015. • In 2015, Suominen’s net sales amounted to EUR 444.0 million and operating profit excluding non-recurring items to EUR 31.2 million. 456/30/2016
  46. 46. Our purpose is to make nonwovens continuously better for people. Summary: Suominen as an investment Promising track record, solid financial position Ambitious growth scenario – net sales to 500 M€ in 2017 Growth investment program: Financial position secures the execution Dividends form an important element in the creation of shareholder value 46 ~30% Payout ratio ~60M€ 500M€ 28.6% Gearing 6/30/2016
  47. 47. Thank you! 476/30/2016

×