This document provides an overview of Eagle High Plantations (EHP) for 2016. It discusses that EHP has a new name, logo, management, vision, and values. It notes that EHP's landbank is large and young, with the average age being 6.4 years old. It also states that EHP has the capacity to grow its production to 2.3 million tons per year by 2017. However, it acknowledges EHP experienced net losses in 2015 and 1Q2016. Nonetheless, it provides five reasons to be positive about EHP's future: 1) its large, young landbank means production will increase, 2) focusing on cash flow by slowing new planting, 3) balance sheet consolidation through debt
1) Heavy rainfall in the first quarter of 2016 will help boost palm oil production recovery in West, Central, South, and East Kalimantan and Papua as production was impacted by drought in recent years.
2) Most of the planted areas are now mature with little new planting, which will contribute to increased production.
3) Despite impacts from weather, palm oil production continues to trend upward year-over-year.
4) After lows in 2015, palm oil and kernel prices are recovering.
5) The company's balance sheet is consolidating while costs are decreasing due to economies of scale, contributing to optimism about profits recovery.
Axfood AB reported its best results ever for 2010, with operating profit increasing 7.2% over 2009. Key objectives of operating profit maintaining 2009 levels and profitable growth were achieved, with sales growth of 5.8%. The board proposed a dividend of SEK 12 per share, representing 73% of profit after tax in line with the company's 50% minimum dividend policy. Looking ahead, Axfood aims to maintain at least 2010 operating profit levels through store optimization, sales growth stimulation, cost control and increased private label sales.
In the 3Q16 conference call, EHPT discussed a dismal quarter with low production levels as most hectares were still immature. However, they expect production, prices, and financial results to recover in 2017 as more hectares become mature and production increases. Cost control has remained strong, while capital expenditures have remained low. Debt levels have flattened out in recent quarters.
Suominen Corporation reported its Q2 2016 financial results. While net sales decreased 4% compared to last year due to lower prices and currency fluctuations, operating profit improved from the previous two quarters. Cash flow from operations nearly doubled due to decreased financial expenses and taxes paid. The company continues investing in its growth program, including a new production line in Bethune, USA, which is expected to start customer deliveries in Q1 2017. For the full year 2016, Suominen expects net sales and operating profit to improve over 2015.
Metso is a leading industrial company providing technology and services for minerals processing and flow control industries. It has a strong market position with #1 rankings in several areas. While markets have been challenging, Metso has maintained a healthy financial position through cash generation and a net debt free balance sheet. Metso's strategic focus is on profitable growth through actions like increasing sales to its existing customer base, expanding its product portfolio, and pursuing operational excellence. Its financial targets include sales growth exceeding markets, adjusted EBITA over 15%, and return on capital employed over 30%.
2010-04-20 Presentation at media and analyst meetingAxfood
Axfood AB reported its financial results for the first quarter of 2010. Consolidated sales increased 6.9% to SEK 8,210 million, with an operating profit of SEK 245 million and operating margin of 3.0%. Willys and Dagab saw sales growth of 6.7% and 10.4% respectively. Hemköp reported a positive result despite increased marketing costs. Axfood aims to achieve an operating profit in 2010 at least equal to the level of 2009.
CMD 2017 Comminution analytics breakout Giuseppe Campanelli_finalMetso Group
Metso is pursuing a strategy to grow its aggregates business faster than the market through growth initiatives focused on distribution, mid-market customers, and aggregates systems. Metso provides crushing and screening products to contractors and quarries and has seen growth in orders received from distribution channels and mid-market customers in recent quarters. Metso aims to offer customers the best solutions and be the leader in aggregates crushing and screening globally.
This document provides an overview of Eagle High Plantations (EHP) for 2016. It discusses that EHP has a new name, logo, management, vision, and values. It notes that EHP's landbank is large and young, with the average age being 6.4 years old. It also states that EHP has the capacity to grow its production to 2.3 million tons per year by 2017. However, it acknowledges EHP experienced net losses in 2015 and 1Q2016. Nonetheless, it provides five reasons to be positive about EHP's future: 1) its large, young landbank means production will increase, 2) focusing on cash flow by slowing new planting, 3) balance sheet consolidation through debt
1) Heavy rainfall in the first quarter of 2016 will help boost palm oil production recovery in West, Central, South, and East Kalimantan and Papua as production was impacted by drought in recent years.
2) Most of the planted areas are now mature with little new planting, which will contribute to increased production.
3) Despite impacts from weather, palm oil production continues to trend upward year-over-year.
4) After lows in 2015, palm oil and kernel prices are recovering.
5) The company's balance sheet is consolidating while costs are decreasing due to economies of scale, contributing to optimism about profits recovery.
Axfood AB reported its best results ever for 2010, with operating profit increasing 7.2% over 2009. Key objectives of operating profit maintaining 2009 levels and profitable growth were achieved, with sales growth of 5.8%. The board proposed a dividend of SEK 12 per share, representing 73% of profit after tax in line with the company's 50% minimum dividend policy. Looking ahead, Axfood aims to maintain at least 2010 operating profit levels through store optimization, sales growth stimulation, cost control and increased private label sales.
In the 3Q16 conference call, EHPT discussed a dismal quarter with low production levels as most hectares were still immature. However, they expect production, prices, and financial results to recover in 2017 as more hectares become mature and production increases. Cost control has remained strong, while capital expenditures have remained low. Debt levels have flattened out in recent quarters.
Suominen Corporation reported its Q2 2016 financial results. While net sales decreased 4% compared to last year due to lower prices and currency fluctuations, operating profit improved from the previous two quarters. Cash flow from operations nearly doubled due to decreased financial expenses and taxes paid. The company continues investing in its growth program, including a new production line in Bethune, USA, which is expected to start customer deliveries in Q1 2017. For the full year 2016, Suominen expects net sales and operating profit to improve over 2015.
Metso is a leading industrial company providing technology and services for minerals processing and flow control industries. It has a strong market position with #1 rankings in several areas. While markets have been challenging, Metso has maintained a healthy financial position through cash generation and a net debt free balance sheet. Metso's strategic focus is on profitable growth through actions like increasing sales to its existing customer base, expanding its product portfolio, and pursuing operational excellence. Its financial targets include sales growth exceeding markets, adjusted EBITA over 15%, and return on capital employed over 30%.
2010-04-20 Presentation at media and analyst meetingAxfood
Axfood AB reported its financial results for the first quarter of 2010. Consolidated sales increased 6.9% to SEK 8,210 million, with an operating profit of SEK 245 million and operating margin of 3.0%. Willys and Dagab saw sales growth of 6.7% and 10.4% respectively. Hemköp reported a positive result despite increased marketing costs. Axfood aims to achieve an operating profit in 2010 at least equal to the level of 2009.
CMD 2017 Comminution analytics breakout Giuseppe Campanelli_finalMetso Group
Metso is pursuing a strategy to grow its aggregates business faster than the market through growth initiatives focused on distribution, mid-market customers, and aggregates systems. Metso provides crushing and screening products to contractors and quarries and has seen growth in orders received from distribution channels and mid-market customers in recent quarters. Metso aims to offer customers the best solutions and be the leader in aggregates crushing and screening globally.
Suominen Corporation reported financial results for Q3 2015. Net sales increased 11% to €114.9 million due to currency strengthening. Operating profit was €9.8 million, up from €8.4 million in Q3 2014. Cash flow from operations weakened to €3.9 million from €7.9 million in the prior year period. The company is executing a €60 million growth investment program focused on expanding production capacity in Europe, the Americas, and Asia to drive organic sales growth above the industry average of 3%.
- Suominen Corporation reported its financial results for Q4 and full year 2015. Net sales grew 10.5% in 2015 but were flat in Q4 due to some customers postponing orders until after the new year. Operating profit grew 16% for the full year but declined in Q4 due to expenses for development projects.
- The company continues to execute its 2015-2017 strategy, including a €60 million growth investment program across three continents. Six new products were launched in 2015.
- Financial targets for 2015 were met with organic sales growth exceeding 3% and return on investment over 12%, though gearing ratio was higher than target due to investments. Cash flow remained strong in 2015.
Suominen Corporation reported its Q3 2016 financial results. Net sales fell 10% compared to Q3 2015 due to lower customer deliveries. Operating profit was EUR 7.9 million, down from the prior year. Cash flow remained strong at EUR 8.3 million. The company's portfolio continued shifting toward higher value-added products. Construction of a new production line in Bethune is progressing as planned with customer deliveries expected to begin in Q1 2017.
2016 Annual General Meeting of Shareholders Aegon N.V.Aegon
Shareholders are invited to attend the 2016 Annual General Meeting of Shareholders (AGM) of Aegon N.V. on Friday May 20, 2016 at 10.00 a.m. at Aegon's head office in The Hague, the Netherlands.
Suominen Corporation reported financial results for Q4 and full year 2016. Net sales and operating profit did not meet expectations due to pricing pressure and lower volumes. However, cash flow from operations remained strong. A major investment in Bethune, SC was completed on schedule and will provide new growth opportunities once production begins in Q1 2017. For 2017, Suominen aims to increase net sales above 600M Euros and reach an operating profit of over 10% through execution of its 2017-2021 strategy.
Review by the President & CEO, Suominen Corporation's Annual General Meeting ...Suominen Corporation
This document summarizes the President & CEO's review from Suominen Corporation's Annual General Meeting. It discusses Suominen's purpose, leadership team, business areas, market position, financial results from 2015 which showed sales growth and improved profitability, outlook for 2016 which expects further sales and profit growth. It also reviews Suominen's strategy for 2015-2017 which focuses on delivering value in selected market applications, key account management, demand-driven supply chain, and building capabilities as a product company. The implementation of the strategy in 2015 included investments, product development improvements, and launching six new branded products.
- Santander delivered strong results in 2015, growing earnings, dividends, and capital organically. However, its share price has fallen, partly due to concerns over emerging markets like Brazil.
- Santander is well capitalized with a CET1 ratio of 12.55%, far above its minimum requirements, to prepare for Basel III standards. Its diversified business model provides stable earnings through economic cycles.
- Santander has a "moat" of competitive advantages including critical mass across its markets, trusted customer relationships, and geographic diversification that help protect its profits and market share over time.
Tapio Engström: Financial implications of strategy. Suominen CMD 2017.Suominen Corporation
Financial implications of Changemaker strategy. Presentation by Tapio Engström, Chief Financial Officer of Suominen. Held in Suominen Capital Markets Day on 10 May 2017.
- Net sales grew 3% in Q2 2017 compared to the previous year, reaching EUR 112 million, thanks to increased sales volumes. However, lower prices and an unfavorable product mix led to a decline in gross profit.
- The start-up of the new production line in Bethune, South Carolina was more technically challenging than expected. Once fully operational, the line will focus on high value-added products.
- Cash flow from operations remained strong at EUR 10.2 million in Q2, though profit declined due to start-up costs and a lower gross profit. The company is making investments to execute its 2017-2021 strategic plan and targets annual sales growth of 6% and a return
Suominen Corporation reported record results for Q2 2015. Net sales increased 19% to 112.9 million euros due to strengthened demand in Europe and a stronger US dollar. Operating profit excluding non-recurring items reached a record high of 9.9 million euros, up 8.8% compared to Q2 2014, driven by sales growth and an improved gross profit. The company reiterated its outlook for full-year 2015 of increased net sales and operating profit from 2014 levels.
2015 capital markets day presentation by seppo parviStora Enso
Stora Enso, a renewable materials company, outlined new financial targets at its Capital Markets Day. The targets include growing faster than relevant markets, achieving a ROCE over 13%, keeping fixed costs below 20% of sales, maintaining a debt to equity ratio below 80%, and net debt to operational EBITDA below 3. Divisional targets for ROOC and free cash flow to sales were also presented. Stora Enso aims to reduce capex closer to depreciation levels and further lower operating working capital to generate strong cash flow and support the company's transformation. Cost management will remain a continuous focus area.
Capital Markets Day 2015, Nina Kopola, President & CEO on Nov 11Suominen Corporation
This document summarizes Suominen's strategy to become a Market Driven Product Leader from 2015-2017. Key elements of their strategy include:
1) Investing over 60 million euros in growth initiatives across three continents to deliver superior value in selected market applications.
2) Driving proactive key account management and creating value with customers through initiatives like customer perception studies.
3) Executing a demand driven supply chain through defining standardized global processes and a comprehensive ICT systems renewal.
4) Evolving their culture and capabilities through pivotal hires to build new skills and a non-discrimination program.
SEB's 2015 Corporate Sustainability Report highlights the bank's efforts to create value for stakeholders through responsible and sustainable business practices. Some key points:
- SEB reduced its carbon emissions by 54% from 2008 to 2015 and decided to phase out coal, signing the Montreal Pledge.
- SEB's microfinance funds reached over 15 million people globally, a 70% increase from the previous year.
- SEB issued over 500 green bonds worth nearly $100 billion, accounting for $2.7 billion in issuances.
- Going forward, SEB aims to be a role model in sustainability in the financial industry and further reduce its carbon emissions by 20% by 2020.
Suominen Corporation is a producer of nonwovens materials with eight manufacturing plants across three continents. In Q3 2015, the company's net sales increased 11% year-over-year due to currency effects while operating profit remained healthy. For the full year, Suominen expects continued growth in demand for its products driven by trends in emerging and developed markets such as population growth, health and hygiene. The company is executing a growth investment program to increase production capacity.
All-New Investor Presentation - Motilal Oswal Financial Services India ProfileSouth Asia Fast Track
Motilal Oswal Financial Services is transforming its business model to focus on building four engines of ROE growth: Capital Markets, Asset & Wealth Management, Housing Finance, and Fund Based businesses. It has allocated capital differently after the transformation, focusing on businesses that can generate a sustainable 20%+ ROE, like affordable home finance and investments in its own mutual funds and private equity funds. The presentation provides an overview of Motilal Oswal's strategic focus and performance in each of its business segments.
- Suominen Corporation reported financial results for Q1 2016, with net sales of EUR 103.9 million, down 7.2% from Q1 2015. Operating profit was EUR 5.5 million, down 24% year-over-year.
- The proportion of higher value-added products in the sales mix grew compared to Q1 2015. Cash flow from operations doubled to EUR 9.1 million due to decreased financial expenses and positive working capital changes.
- For full-year 2016, Suominen expects net sales and operating profit excluding non-recurring items to improve over 2015 levels.
Nestlé reported its 2011 half-year results, with organic growth of 7.5% and improved operating margins. While currency fluctuations negatively impacted sales by 13.8%, the underlying business performance remained strong with real internal growth of 4.8% and increased pricing. All regions contributed to growth, with the emerging markets achieving 13.3% organic growth. Input costs increased but efficiency measures helped offset this. The results demonstrated Nestlé's ability to deliver growth even in challenging economic environments.
- Suominen Corporation reported their Q3/2018 results, with net sales increasing 2% year-over-year due to price increases, while operating profit declined due to significantly higher raw material, energy, and logistics costs.
- The company is executing their Changemaker strategy and 3P profitability program to improve pricing, performance, and planning, though impacts have been slower than expected.
- For the full year 2018, Suominen expects net sales to be at the 2017 level but operating profit to be significantly lower due to higher costs and competitive market conditions.
Suominen Corporation reported financial results for Q3 2015. Net sales increased 11% to €114.9 million due to currency strengthening. Operating profit was €9.8 million, up from €8.4 million in Q3 2014. Cash flow from operations weakened to €3.9 million from €7.9 million in the prior year period. The company is executing a €60 million growth investment program focused on expanding production capacity in Europe, the Americas, and Asia to drive organic sales growth above the industry average of 3%.
- Suominen Corporation reported its financial results for Q4 and full year 2015. Net sales grew 10.5% in 2015 but were flat in Q4 due to some customers postponing orders until after the new year. Operating profit grew 16% for the full year but declined in Q4 due to expenses for development projects.
- The company continues to execute its 2015-2017 strategy, including a €60 million growth investment program across three continents. Six new products were launched in 2015.
- Financial targets for 2015 were met with organic sales growth exceeding 3% and return on investment over 12%, though gearing ratio was higher than target due to investments. Cash flow remained strong in 2015.
Suominen Corporation reported its Q3 2016 financial results. Net sales fell 10% compared to Q3 2015 due to lower customer deliveries. Operating profit was EUR 7.9 million, down from the prior year. Cash flow remained strong at EUR 8.3 million. The company's portfolio continued shifting toward higher value-added products. Construction of a new production line in Bethune is progressing as planned with customer deliveries expected to begin in Q1 2017.
2016 Annual General Meeting of Shareholders Aegon N.V.Aegon
Shareholders are invited to attend the 2016 Annual General Meeting of Shareholders (AGM) of Aegon N.V. on Friday May 20, 2016 at 10.00 a.m. at Aegon's head office in The Hague, the Netherlands.
Suominen Corporation reported financial results for Q4 and full year 2016. Net sales and operating profit did not meet expectations due to pricing pressure and lower volumes. However, cash flow from operations remained strong. A major investment in Bethune, SC was completed on schedule and will provide new growth opportunities once production begins in Q1 2017. For 2017, Suominen aims to increase net sales above 600M Euros and reach an operating profit of over 10% through execution of its 2017-2021 strategy.
Review by the President & CEO, Suominen Corporation's Annual General Meeting ...Suominen Corporation
This document summarizes the President & CEO's review from Suominen Corporation's Annual General Meeting. It discusses Suominen's purpose, leadership team, business areas, market position, financial results from 2015 which showed sales growth and improved profitability, outlook for 2016 which expects further sales and profit growth. It also reviews Suominen's strategy for 2015-2017 which focuses on delivering value in selected market applications, key account management, demand-driven supply chain, and building capabilities as a product company. The implementation of the strategy in 2015 included investments, product development improvements, and launching six new branded products.
- Santander delivered strong results in 2015, growing earnings, dividends, and capital organically. However, its share price has fallen, partly due to concerns over emerging markets like Brazil.
- Santander is well capitalized with a CET1 ratio of 12.55%, far above its minimum requirements, to prepare for Basel III standards. Its diversified business model provides stable earnings through economic cycles.
- Santander has a "moat" of competitive advantages including critical mass across its markets, trusted customer relationships, and geographic diversification that help protect its profits and market share over time.
Tapio Engström: Financial implications of strategy. Suominen CMD 2017.Suominen Corporation
Financial implications of Changemaker strategy. Presentation by Tapio Engström, Chief Financial Officer of Suominen. Held in Suominen Capital Markets Day on 10 May 2017.
- Net sales grew 3% in Q2 2017 compared to the previous year, reaching EUR 112 million, thanks to increased sales volumes. However, lower prices and an unfavorable product mix led to a decline in gross profit.
- The start-up of the new production line in Bethune, South Carolina was more technically challenging than expected. Once fully operational, the line will focus on high value-added products.
- Cash flow from operations remained strong at EUR 10.2 million in Q2, though profit declined due to start-up costs and a lower gross profit. The company is making investments to execute its 2017-2021 strategic plan and targets annual sales growth of 6% and a return
Suominen Corporation reported record results for Q2 2015. Net sales increased 19% to 112.9 million euros due to strengthened demand in Europe and a stronger US dollar. Operating profit excluding non-recurring items reached a record high of 9.9 million euros, up 8.8% compared to Q2 2014, driven by sales growth and an improved gross profit. The company reiterated its outlook for full-year 2015 of increased net sales and operating profit from 2014 levels.
2015 capital markets day presentation by seppo parviStora Enso
Stora Enso, a renewable materials company, outlined new financial targets at its Capital Markets Day. The targets include growing faster than relevant markets, achieving a ROCE over 13%, keeping fixed costs below 20% of sales, maintaining a debt to equity ratio below 80%, and net debt to operational EBITDA below 3. Divisional targets for ROOC and free cash flow to sales were also presented. Stora Enso aims to reduce capex closer to depreciation levels and further lower operating working capital to generate strong cash flow and support the company's transformation. Cost management will remain a continuous focus area.
Capital Markets Day 2015, Nina Kopola, President & CEO on Nov 11Suominen Corporation
This document summarizes Suominen's strategy to become a Market Driven Product Leader from 2015-2017. Key elements of their strategy include:
1) Investing over 60 million euros in growth initiatives across three continents to deliver superior value in selected market applications.
2) Driving proactive key account management and creating value with customers through initiatives like customer perception studies.
3) Executing a demand driven supply chain through defining standardized global processes and a comprehensive ICT systems renewal.
4) Evolving their culture and capabilities through pivotal hires to build new skills and a non-discrimination program.
SEB's 2015 Corporate Sustainability Report highlights the bank's efforts to create value for stakeholders through responsible and sustainable business practices. Some key points:
- SEB reduced its carbon emissions by 54% from 2008 to 2015 and decided to phase out coal, signing the Montreal Pledge.
- SEB's microfinance funds reached over 15 million people globally, a 70% increase from the previous year.
- SEB issued over 500 green bonds worth nearly $100 billion, accounting for $2.7 billion in issuances.
- Going forward, SEB aims to be a role model in sustainability in the financial industry and further reduce its carbon emissions by 20% by 2020.
Suominen Corporation is a producer of nonwovens materials with eight manufacturing plants across three continents. In Q3 2015, the company's net sales increased 11% year-over-year due to currency effects while operating profit remained healthy. For the full year, Suominen expects continued growth in demand for its products driven by trends in emerging and developed markets such as population growth, health and hygiene. The company is executing a growth investment program to increase production capacity.
All-New Investor Presentation - Motilal Oswal Financial Services India ProfileSouth Asia Fast Track
Motilal Oswal Financial Services is transforming its business model to focus on building four engines of ROE growth: Capital Markets, Asset & Wealth Management, Housing Finance, and Fund Based businesses. It has allocated capital differently after the transformation, focusing on businesses that can generate a sustainable 20%+ ROE, like affordable home finance and investments in its own mutual funds and private equity funds. The presentation provides an overview of Motilal Oswal's strategic focus and performance in each of its business segments.
- Suominen Corporation reported financial results for Q1 2016, with net sales of EUR 103.9 million, down 7.2% from Q1 2015. Operating profit was EUR 5.5 million, down 24% year-over-year.
- The proportion of higher value-added products in the sales mix grew compared to Q1 2015. Cash flow from operations doubled to EUR 9.1 million due to decreased financial expenses and positive working capital changes.
- For full-year 2016, Suominen expects net sales and operating profit excluding non-recurring items to improve over 2015 levels.
Nestlé reported its 2011 half-year results, with organic growth of 7.5% and improved operating margins. While currency fluctuations negatively impacted sales by 13.8%, the underlying business performance remained strong with real internal growth of 4.8% and increased pricing. All regions contributed to growth, with the emerging markets achieving 13.3% organic growth. Input costs increased but efficiency measures helped offset this. The results demonstrated Nestlé's ability to deliver growth even in challenging economic environments.
Similar to Capital Markets Day 2015, Tapio Engström, CFO on Nov 11 (20)
- Suominen Corporation reported their Q3/2018 results, with net sales increasing 2% year-over-year due to price increases, while operating profit declined due to significantly higher raw material, energy, and logistics costs.
- The company is executing their Changemaker strategy and 3P profitability program to improve pricing, performance, and planning, though impacts have been slower than expected.
- For the full year 2018, Suominen expects net sales to be at the 2017 level but operating profit to be significantly lower due to higher costs and competitive market conditions.
- The new President & CEO of Suominen Corporation will be Pekka Ojanpää, replacing the current CEO Nina Kopola. Interim CEO is Tapio Engström.
- In Q2 2018, net sales decreased 2% due to negative currency impacts, while average sales prices increased. The new production line in Bethune, SC turned positive on gross profit.
- Operating profit decreased mainly due to tight price competition in flushables and freight issues, while the 3P program aims to improve profitability through pricing, performance, and planning.
- Cash flow from operations was favorably impacted by US tax refunds totaling €7 million. Investments were on track with annual guidance of
- Net sales decreased 6% due to currency effects, while volumes sold increased, representing one of Suominen's highest quarters. Operating profit declined due to price pressures and issues with delivery efficiency at the new Bethune plant.
- The 3P program aims to improve profitability through pricing, performance, and planning, and initial results were seen in slightly higher average sales prices. A new investment was made in Green Bay, WI to increase production of high value products.
- Cash flow remained healthy despite weaker profitability, and EUR 6.3 million was distributed to shareholders as a return of capital.
Suominen at European Midcap Event in Frankfurt on 6 February 2018Suominen Corporation
Suominen Corporation presented its strategy for 2017-2021 which aims to grow net sales to over 600 million euros and increase operating profit to over 10% of net sales. The strategy focuses on three cornerstones - being the best in business, creating nonwovens that others cannot, and building a community of changemakers. Suominen completed a major growth investment program that increased manufacturing capabilities in attractive markets like the US, Brazil, and Spain. The strategy is expected to drive profitable growth and transform Suominen's portfolio toward higher-value applications.
Suominen Corporation reported its financial results for Q4 and full year 2017. Key highlights include:
- Sales volumes grew 4% in 2017 but prices and product mix developed unfavorably, decreasing net sales and gross profit.
- Costs associated with a new production line in the US decreased operating profit.
- However, profit for the period was significantly impacted by the positive effect of US tax reform.
- Cash flow from operations remained healthy despite the decline in operating profit.
- The company expects net sales and operating profit to improve in 2018.
- Sales volumes grew but the weakening USD and unfavorable product mix decreased Q3 net sales. Operating profit declined due to ramp-up costs of the new US production line and growth investments.
- The company successfully refinanced its debt to provide a solid financial position for executing its 2017-2021 growth strategy focused on sustainability and innovation.
- While cash flow from operations decreased in Q3 due to lower profits and increased working capital, the company expects the new US production line to positively impact profits starting in 2018.
Suominen at Small Mid Cap Forum in London, on 26 September 2017Suominen Corporation
Suominen Corporation presented its strategy for 2017-2021 which focuses on becoming the best in the nonwovens business. The strategy has three cornerstones - being the best in turning end-user needs into commercial success, creating nonwovens that others cannot, and building a community of changemakers. Suominen recently completed investments that strengthened its capabilities in product development, manufacturing, and information systems. Its vision is to change how people think about nonwovens by offering engineered solutions rather than just raw materials.
Suominen at Small Mid Cap Forum at Zürich, Switzerland on 5 September 2017Suominen Corporation
This document provides an overview of Suominen Corporation and its strategy for 2017-2021. It discusses Suominen's operations, customers, locations, recent history and investments, the nonwovens market outlook, and its "Changemaker" strategy. The strategy aims to position Suominen as the best business partner through a demand-driven supply chain and superior customer satisfaction. It seeks profitable growth by increasing market share in key product areas and expanding into new geographies and technologies.
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2. Our purpose is to make nonwovens continuously better for people.
Mid-term
financial targets
11/11/2015 2
3. Our purpose is to make nonwovens continuously better for people.
4.7 %
7.5 %
14.4 %
0%
5%
10%
15%
20%
2012 2013 2014 Q3/15
Net sales growth, %
101.0 96.2
34.7 30.5
0
20
40
60
80
100
120
2012 2013 2014 Q3/15
Gearing, %
Solid financial development
Progress on mid-term financial targets
12.4 %
15.7 %
17.4 %
0%
5%
10%
15%
20%
2012 2013 2014 Q3/15
ROI, %
• Net sales growth compared with
previous year or the Q3 of previous
year.
• Target level marked with dashed line.
• Figures are of continuing operations.
n/a
11/11/2015 3
n/a
4. Our purpose is to make nonwovens continuously better for people.
Profitability
transformation
11/11/2015 4
5. Our purpose is to make nonwovens continuously better for people.
Portfolio change drives top line growth
41%
17%
11%
21%
8%
2%
2014 (401.8 M€) 2017 (~500 M€)
Illustrative.
11/11/2015
• 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
5
6. Our purpose is to make nonwovens continuously better for people.
9.0%
10.7%
12.4%
13.8%
0%
3%
6%
9%
12%
15%
2012 2013 2014 Q3/15
Gross profit, % of net sales
Positive development in gross profit, SGA costs
and operating profit
11/11/2015 6
6.6%
6.0% 5.8% 6.1%
0%
2%
4%
6%
8%
2012 2013 2014 Q3/15
SGA, % of net sales
*Excluding non-recurring items
4.2%
5.2%
6.7%
8.1%
0%
2%
4%
6%
8%
10%
2012 2013 2014 Q3/15
Operating profit*, % of net sales
7. Our purpose is to make nonwovens continuously better for people.
Raw materials – The logic
• Roughly 60–70% of costs are raw
materials.
• We are the 9th largest nonwovens
producer in the world with 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.
11/11/2015 7
30%
23%
23%
21%
3%
Viscose Pulp Polypropene* Polyester Other
* Including sourced PP Spunbond.
8. 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.
11/11/2015 8
9. Our purpose is to make nonwovens continuously better for people.
Cash flow – always in focus
Cash flow from operations, M€
24.9
21.3
37.1
16.3
0
5
10
15
20
25
30
35
40
2012 2013 2014 Q1–Q3/15
11/11/2015 9
- In 2015, cash flow accumulation between quarters has been steadier than before.
Cash flow from operations, M€
4.3
16.3
-0.4
11.3
16.9
9.3
4.5 3.9
7.9
-2
0
2
4
6
8
10
12
14
16
18
10. Our purpose is to make nonwovens continuously better for people.
Growth
investment
program
11/11/2015 10
11. Our purpose is to make nonwovens continuously better for people.
To implement the strategy, we have a focused
~60 M€ growth investment program
Extend geo-
graphical
reach
Acquisitions
Sustain &
improve
Retrofit Expand
Projected growth investments
approx. 60 M€ until 2017
Not in focus in the strategy period
2015–2017
Some 1-2% of
net sales
1111/11/2015
12. Our purpose is to make nonwovens continuously better for people.
~60 M€ growth investment program – Timing
12
2015 2016 2017
Retrofit
Paulínia,
Alicante
Q4/2015
Expand
Bethune
H2/2016
Projected growth investments
approx. 60 M€ until 2017
To be
decided
~54 M€ spending in progress ~6 M€
11/11/2015
13. Our purpose is to make nonwovens continuously better for people.
Funding of the growth investment program secured
Extrapolated from Q3/2015
Source of funding EUR million
Cash (Q3/2015) 36
Cash flow from operations
In 2015, 20+M€ (annualized Q3/2015)
Assume Cash Flow level repeated in 2016 ~20+
Term loan availability 15
Funding in total ~70
Growth investments program in total ~60
11/11/2015 13
14. Our purpose is to make nonwovens continuously better for people.
Dividend policy
11/11/2015 14
15. Our purpose is to make nonwovens continuously better for people.
Dividend policy
11/11/2015 15
• Suominen’s policy is to distribute
approximately 30% of its profit
for the period as annual dividend.
• However, as the Board of
Directors of the company
assesses the dividend payout
proposal, it will also consider
Suominen’s future investment
needs and the solidity of the
company’s financial position.
• Of the FY 2014, Suominen
distributed funds 0.01 € per
share, in total some EUR 2.5
million.
-2.8
5.7
10.2
15.1
-5
0
5
10
15
20
2012 2013 2014 Q1-Q3/15
Profit for the period, M€
-0.01
0.02
0.04
0.06
0.01
-0.02
0
0.02
0.04
0.06
0.08
2012 2013 2014 Q1-Q3
2015
EPS DPS
EPS and DPS, €
16. Our purpose is to make nonwovens continuously better for people.
Summary:
Strategy execution from financial perspective
Strong track record, solid financial position
Ambitious growth scenario
Growth investment plan:
Financial position secures the execution
Dividends form an important element
in the creation of shareholder value
1611/11/2015
~30 %
~60
M€
500
M€