New Risk • Jul 03
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 133% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (13% average weekly change). Shareholders have been substantially diluted in the past year (133% increase in shares outstanding). Minor Risk Market cap is less than US$100m (€71.0m market cap, or US$81.2m). Major Estimate Revision • Jun 12
Consensus EPS estimates upgraded to €0.20 loss The consensus outlook for fiscal year 2026 has been updated. 2026 losses forecast to reduce from -€0.23 to -€0.205 per share. Revenue forecast unchanged from €420.5m at last update. Household Products industry in Finland expected to see average net income growth of 3.1% next year. Consensus price target down from €1.03 to €0.90. Share price fell 41% to €0.62 over the past week. Announcement • Jun 10
Suominen Oyj has filed a Follow-on Equity Offering in the amount of €28 million. Suominen Oyj has filed a Follow-on Equity Offering in the amount of €28 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 500,000,000
Price\Range: €0.056
Transaction Features: Rights Offering Buy Or Sell Opportunity • Jun 09
Now 45% undervalued after recent price drop Over the last 90 days, the stock has fallen 55% to €0.65. The fair value is estimated to be €1.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.6% over the last 3 years. Earnings per share has grown by 23%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 91% in the next 2 years. New Risk • May 08
New major risk - Revenue and earnings growth Earnings have declined by 56% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Earnings have declined by 56% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€62.1m market cap, or US$73.1m). Reported Earnings • May 08
First quarter 2026 earnings released: €0.10 loss per share (vs €0.038 loss in 1Q 2025) First quarter 2026 results: €0.10 loss per share (further deteriorated from €0.038 loss in 1Q 2025). Revenue: €95.6m (down 19% from 1Q 2025). Net loss: €5.72m (loss widened 164% from 1Q 2025). Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Household Products industry in Europe. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Major Estimate Revision • Apr 29
Consensus EPS estimates fall by 72% The consensus outlook for fiscal year 2026 has been updated. 2026 expected loss increased from -€0.06 to -€0.103 per share. Revenue forecast unchanged at €431.9m. Household Products industry in Finland expected to see average net income growth of 26% next year. Consensus price target down from €1.45 to €1.30. Share price was steady at €1.18 over the past week. Price Target Changed • Apr 28
Price target decreased by 14% to €1.30 Down from €1.52, the current price target is an average from 3 analysts. New target price is 8.3% above last closing price of €1.20. Stock is down 41% over the past year. The company is forecast to post a net loss per share of €0.06 next year compared to a net loss per share of €0.21 last year. Announcement • Apr 17
Suominen Corporation Announces Appointment of Liisa Pursiheimo as Chief Human Resources Officer, Effective April 21, 2026 Suominen Corporation has appointed Liisa Pursiheimo (M.Sc., Economics and International Business, Finnish and American citizen) as Chief Human Resources Officer (CHRO) and a member of the Suominen Leadership Team, effective April 21, 2026. With decades of international leadership experience, Liisa Pursiheimo has been based in the United States for much of her career, leading global people initiatives across diverse markets and cultures. Most recently, she spent four years at SACHEM Inc., where she served as Global Director, Human Resources. Suominen Leadership Team as of May 18, 2026: Charles Héaulmé, President and CEO; Kimmo Raunio, CFO; Markku Koivisto, Chief Commercial and Technology Officer; Francois Guetat, Chief Operating Officer; Liisa Pursiheimo, Chief Human Resource Officer; Marika Väkiparta, Chief Strategy and Transformation Officer and interim General Counsel. Announcement • Apr 16
Suominen Corporation Approves Board Changes Suominen Corporation at its Annual General Meeting held on April 15, 2026 Ville Vuori was elected as a new member of the Board. Ville Vuori was elected as the Chair of the Board of Directors. Ville Vuori was elected as the Chair of the Personnel and Remuneration Committee. Price Target Changed • Mar 26
Price target decreased by 10% to €1.45 Down from €1.62, the current price target is an average from 3 analysts. New target price is 25% above last closing price of €1.16. Stock is down 43% over the past year. The company is forecast to post earnings per share of €0.08 next year compared to a net loss per share of €0.21 last year. Reported Earnings • Mar 25
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: €0.21 loss per share (further deteriorated from €0.092 loss in FY 2024). Revenue: €412.4m (down 11% from FY 2024). Net loss: €12.1m (loss widened 128% from FY 2024). Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) also missed analyst estimates by 24%. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Household Products industry in Europe. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. New Risk • Mar 03
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €86.1m (US$99.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (6.0% average weekly change). Market cap is less than US$100m (€86.1m market cap, or US$99.9m). Announcement • Feb 27
Suominen Corporation Announces Leaving of Minna Rouru as Chief People and Communications Officer, Effective August 26, 2026 Suominen Corporation announced that Minna Rouru, Chief People and Communications Officer (CPCO) has announced her decision to leave Suominen to take on a role in another company. She will leave Suominen at the latest on August 26, 2026. Reported Earnings • Jan 30
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: €0.21 loss per share (further deteriorated from €0.092 loss in FY 2024). Revenue: €412.4m (down 11% from FY 2024). Net loss: €12.1m (loss widened 128% from FY 2024). Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) also missed analyst estimates by 24%. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Household Products industry in Europe. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Announcement • Jan 26
Suominen Corporation Announces Resignation of Charles Héaulmé from the Board of Directors Suominen Corporation announced that the current Chairman of the Board, Charles Héaulmé, has decided to step out from the Board of Directors due to his role as the President & CEO of the Company. Price Target Changed • Oct 31
Price target decreased by 9.3% to €1.62 Down from €1.78, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of €1.67. Stock is down 33% over the past year. The company is forecast to post a net loss per share of €0.17 next year compared to a net loss per share of €0.092 last year. Announcement • Oct 31
Suominen Oyj Announces Executive Changes Suominen Oyj has appointed Francois Guetat, M.Eng., as Chief Operating Officer, and member of Suominen Leadership Team effective November 3, 2025. Francois Guetat brings over two decades of global experience in operations, supply chain, and manufacturing excellence. Most recently, he served as SVP of Integrated Supply Chain at Kalmar, where he led business across sourcing, manufacturing, logistics and strategy. His leadership has been shaped by 22 years at Volvo, where he held key roles in Sweden, USA, and Poland. Suominen’s Chief Operating Officer Darryl Fournier has decided to leave the company to pursue other professional endeavors. He will continue with Suominen until end of January 2026, focusing on strategic projects. Reported Earnings • Oct 30
Third quarter 2025 earnings: EPS exceeds analyst expectations Third quarter 2025 results: €0.03 loss per share (improved from €0.06 loss in 3Q 2024). Revenue: €99.8m (down 11% from 3Q 2024). Net loss: €1.99m (loss narrowed 38% from 3Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 25%. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Household Products industry in Europe. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Price Target Changed • Oct 16
Price target decreased by 8.7% to €1.75 Down from €1.92, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of €1.74. Stock is down 34% over the past year. The company is forecast to post a net loss per share of €0.14 next year compared to a net loss per share of €0.092 last year. Reported Earnings • Aug 08
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: €0.07 loss per share (further deteriorated from €0.03 loss in 2Q 2024). Revenue: €99.8m (down 16% from 2Q 2024). Net loss: €4.00m (loss widened 106% from 2Q 2024). Revenue missed analyst estimates by 16%. Earnings per share (EPS) also missed analyst estimates. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Household Products industry in Europe. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. New Risk • Jul 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Finnish stocks, typically moving 5.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (6.3% operating cash flow to total debt). Minor Risk Share price has been volatile over the past 3 months (5.8% average weekly change). Reported Earnings • May 07
First quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2025 results: €0.04 loss per share (further deteriorated from €0.017 loss in 1Q 2024). Revenue: €117.5m (up 3.4% from 1Q 2024). Net loss: €2.17m (loss widened 116% from 1Q 2024). Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates by 60%. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Household Products industry in Europe. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 14% per year. Reported Earnings • Apr 06
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: €0.092 loss per share (improved from €0.22 loss in FY 2023). Revenue: €462.3m (up 2.5% from FY 2023). Net loss: €5.29m (loss narrowed 59% from FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.8%. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Household Products industry in Europe. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Price Target Changed • Mar 06
Price target decreased by 7.1% to €1.95 Down from €2.10, the current price target is an average from 2 analysts. New target price is 6.7% below last closing price of €2.09. Stock is down 23% over the past year. The company is forecast to post earnings per share of €0.065 next year compared to a net loss per share of €0.09 last year. Reported Earnings • Mar 06
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: €0.09 loss per share (improved from €0.22 loss in FY 2023). Revenue: €462.3m (up 2.5% from FY 2023). Net loss: €5.29m (loss narrowed 59% from FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.8%. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Household Products industry in Europe. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Announcement • Mar 05
Suominen Oyj Proposes No Dividend for the Financial Year Ended December 31, 2024 The board of directors of Suominen Oyj proposed to the Annual General meeting, that no dividend shall be distributed for the financial year ended December 31, 2024. Announcement • Jan 27
Suominen Appoints Darryl Fournier as Chief Operating Officer, Effective February 24, 2025 Darryl Fournier has been appointed as the Chief Operating Officer at Suominen. He will be a member of Suominen's Executive Management Team and report to President & CEO Tommi Björnman. Fournier will start in his new position latest on February 24, 2025. Fournier joins Suominen from Wm. T. Burnett & Co., where he worked as Vice President, Operations. Fournier has extensive experience in production technologies, supply chain management, and sales support, with a strong focus on data-driven strategies and process improvement. New Risk • Jan 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Finnish stocks, typically moving 5.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.3x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risk Share price has been volatile over the past 3 months (5.6% average weekly change). Announcement • Dec 06
Suominen Oyj Appoints Mark Ushpol Executive Vice President, Americas Business Area, Payable on January 6, 2025 Mark Ushpol has been appointed Executive Vice President, Americas business area at Suominen. He will be a member of Suominen's Executive Management Team and report to President and CEO Tommi Björnman. Ushpol will start in his new position on January 6, 2025. Mr. Ushpol joins Suominen from Ahlstrom, where he worked as Executive Vice President of the Food & Consumer Packaging division and as a member of the Executive Management Team. Price Target Changed • Nov 07
Price target decreased by 16% to €2.10 Down from €2.50, the current price target is an average from 2 analysts. New target price is 14% below last closing price of €2.45. Stock is down 10% over the past year. The company posted a net loss per share of €0.22 last year. Reported Earnings • Nov 07
Third quarter 2024 earnings released: €0.06 loss per share (vs €0.013 profit in 3Q 2023) Third quarter 2024 results: €0.06 loss per share (down from €0.013 profit in 3Q 2023). Revenue: €111.6m (up 4.8% from 3Q 2023). Net loss: €3.19m (down €3.97m from profit in 3Q 2023). Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Household Products industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Announcement • Aug 26
Suominen Oyj Announces Executive Changes Suominen Oyj announced that Mr. Thomas Olsen, EVP Americas, will leave Suominen to pursue new opportunities outside the company. Mr. Markku Koivisto has been appointed as interim EVP, Americas in addition to his current role as EVP, EMEA and CTO. The change is effective as of August 26, 2024. The process to recruit a new EVP, Americas will be started immediately. Reported Earnings • Aug 11
Second quarter 2024 earnings released: €0.03 loss per share (vs €0.14 loss in 2Q 2023) Second quarter 2024 results: €0.03 loss per share (improved from €0.14 loss in 2Q 2023). Revenue: €118.7m (up 5.3% from 2Q 2023). Net loss: €1.94m (loss narrowed 76% from 2Q 2023). Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Household Products industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Announcement • Jun 01
Suominen Corporation Announces Resignation of Klaus Korhonen as EVP, HR & Legal and a Member of the Executive Management Team Suominen Corporation announced that Klaus Korhonen, EVP, HR & Legal and a member of the Executive Management Team has decided to leave Suominen to pursue new opportunities outside the company. Following this change, the composition of Suominen’s Executive Management Team will be as of May 31, 2024: Tommi Björnman, President & CEO, Janne Silonsaari, CFO, Markku Koivisto, EVP, EMEA & CTO, Thomas Olsen, EVP, Americas, Jonni Friman, EVP, TMO. Reported Earnings • May 08
First quarter 2024 earnings released: €0.02 loss per share (vs €0.069 loss in 1Q 2023) First quarter 2024 results: €0.02 loss per share (improved from €0.069 loss in 1Q 2023). Revenue: €113.6m (down 2.7% from 1Q 2023). Net loss: €1.00m (loss narrowed 75% from 1Q 2023). Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Household Products industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Mar 29
Upcoming dividend of €0.10 per share Eligible shareholders must have bought the stock before 05 April 2024. Payment date: 15 April 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 3.6%. Lower than top quartile of Finnish dividend payers (5.9%). Higher than average of industry peers (2.5%). Declared Dividend • Mar 15
Dividend of €0.10 announced Dividend of €0.10 is the same as last year. Ex-date: 5th April 2024 Payment date: 15th April 2024 Dividend yield will be 3.7%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (29% cash payout ratio). The dividend has increased by an average of 8.0% per year over the past 9 years. However, payments have been volatile during that time. Reported Earnings • Mar 14
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: €0.22 loss per share (improved from €0.24 loss in FY 2022). Revenue: €450.9m (down 8.6% from FY 2022). Net loss: €12.8m (loss narrowed 7.8% from FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 44%. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Household Products industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Price Target Changed • Feb 07
Price target decreased by 9.1% to €2.50 Down from €2.75, the current price target is an average from 3 analysts. New target price is 5.7% below last closing price of €2.65. Stock is down 11% over the past year. The company posted a net loss per share of €0.22 last year. Reported Earnings • Feb 07
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: €0.22 loss per share (improved from €0.24 loss in FY 2022). Revenue: €450.9m (down 8.6% from FY 2022). Net loss: €12.8m (loss narrowed 7.8% from FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 44%. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Household Products industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Announcement • Dec 19
Suominen Corporation Announces Executive Changes The Nomination Board of Suominen Corporation’s shareholders proposes to the Annual General Meeting that the number of Board members remains unchanged and would be six (6). The Nomination Board proposes to the Annual General Meeting that Andreas Ahlström, Aaron Barsness, Björn Borgman, Nina Linander and Laura Remes would be re-elected as members of the Board of Directors and that Charles Héaulmé would be elected as a new member of the Board of Directors. Jaakko Eskola, the current Chair of the Board of Directors, has informed that he is not available for re-election to the Board of Directors. Charles Héaulmé (born 1966, B. Sc. (Business Administration), French citizen) currently works as the President and CEO of Huhtamäki Oyj. Prior to that he has held a number of executive positions at Tetra Pak in Europe and Americas. Charles Héaulmé’s CV is attached to this stock exchange release. All candidates have given their consent to the election. All candidates are independent of the company. The candidates are also independent of Suominen’s significant shareholders, with the exception of Andreas Ahlström who acts currently as Investment Director at A. Ahlström Corporation. The largest shareholder of Suominen Corporation, Ahlstrom Capital B.V. is a group company of A. Ahlström Corporation. The Nomination Board proposes to the Annual General Meeting that Charles Héaulmé would be elected as the Chair of the Board of Directors. With regard to the selection procedure for the members of the Board of Directors, the Nomination Board recommends that shareholders take a position on the proposal as a whole at the Annual General Meeting. In preparing its proposals the Nomination Board, in addition to ensuring that individual nominees for membership of the Board of Directors possess the required competences, has determined that the proposed Board of Directors as a whole also has the best possible expertise for the company and that the composition of the Board of Directors meets other requirements of the Finnish Corporate Governance Code for listed companies. The composition of the Nomination Board: The members of the Nomination Board are, as of September 4, 2023, Lasse Heinonen, as a member appointed by Ahlstrom Capital B.V. and Mikael Etola, CEO of Etola-Yhtiöt, as a member appointed by both Etola Group Oy and Oy Etra Invest Ab. Jaakko Eskola, Chair of Suominen’s Board of Directors, serves as the third member of the Nomination Board. Lasse Heinonen acts as the Chair of the Nomination Board. The Nomination Board decided to invite Peter Seligson, Chair of the Board of Directors of A. Ahlström Corporation, to attend the Nomination Board’s meetings as an advisor. All of the proposals made by the Nomination Board were unanimous. The Board of Directors of Suominen Corporation will include the proposals submitted by the Nomination Board to the Notice of the Annual General Meeting of Suominen which will be published at a later date. The Annual General Meeting of Suominen Corporation is scheduled to be held on April 4, 2024. Announcement • Nov 23
Suominen Oyj Renews Its Organization Model and Responsibilities of the Executive Management Team Suominen’s Board of Directors has decided on the company’s new organization model and new responsibilities of the Executive Management Team members, effective from January 1, 2024. Suominen's Business Areas continue to be Americas and EMEA. Suominen has no reportable segments. The business of Suominen continues to consist of one operating segment. The Business Areas will be responsible for Sales and Production in their respective regions and will be headed by Markku Koivisto, EVP, EMEA & CTO and Thomas Olsen, EVP, Americas. Jonni Friman, EVP, Transformation Management Office will assume responsibility for Operational Excellence, Sourcing and Supply Chain Management. He will also continue with his current responsibilities in leading improvement projects and strategy execution. Mimoun Saïm, SVP, Operations will be appointed SVP, Operational Excellence, reporting to Jonni Friman. Composition of Suominen's Executive Management Team as of January 1, 2024: Tommi Björnman, President and CEO, Janne Silonsaari, CFO, Jonni Friman, EVP, Transformation Management Office, Markku Koivisto, EVP, EMEA & CTO, Klaus Korhonen, EVP, HR & Legal, Thomas Olsen, EVP, Americas. Reported Earnings • Oct 28
Third quarter 2023 earnings released: EPS: €0.01 (vs €0.007 loss in 3Q 2022) Third quarter 2023 results: EPS: €0.01 (up from €0.007 loss in 3Q 2022). Revenue: €106.4m (down 19% from 3Q 2022). Net income: €776.0k (up €1.17m from 3Q 2022). Profit margin: 0.7% (up from net loss in 3Q 2022). Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Household Products industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Announcement • Oct 10
Suominen Oyj Appoints Thomas Olsen as Senior Vice President, Effective from November 1, 2023 Suominen Oyj appointedThomas Olsen, MBA as Senior Vice President, Americas business area at Suominen. He will be a member of Suominen's Executive Team and report to President and CEO Tommi Björnman. He will start in his new position on November 1, 2023. Announcement • Aug 22
Suominen Oyj Announces Executive Changes Suominen Oyj announced that Ms. Lynda Kelly, SVP, Americas & Business Development will leave Suominen for medical reasons. Mr. Markku Koivisto has been appointed as interim SVP, Americas in addition to his current role as SVP, Europe and R&D. The change is effective immediately.The process to recruit a new SVP, Americas has been started. New Risk • Aug 10
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. Cash payout ratio: 104% Dividend yield: 3.5% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 104% Minor Risk Share price has been volatile over the past 3 months (6.3% average weekly change). Announcement • Aug 10
Suominen Oyj Approves the Proposal to Pay Dividend Suominen Oyj approved the proposal to pay dividend of EUR 0.10 per share at the AGM. Reported Earnings • Aug 10
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: €0.14 loss per share (further deteriorated from €0.04 loss in 2Q 2022). Revenue: €112.7m (down 4.5% from 2Q 2022). Net loss: €8.19m (loss widened 253% from 2Q 2022). Revenue missed analyst estimates by 6.1%. Earnings per share (EPS) also missed analyst estimates. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Household Products industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Announcement • May 31
Janne Silonsaari to Start as the CFO of Suominen Corporation on June 1, 2023 Suominen Corporation appointed Mr. Janne Silonsaari as the new CFO on March 6, 2023. Silonsaari will start in his role on June 1, 2023. Janne Silonsaari (born 1980) holds a Master’s degree in Economics and Business Administration. Prior to joining Suominen he worked for 16 years at Kemira Oyj in various business controlling and leadership roles. Announcement • May 27
Suominen Oyj Appoints Jonni Friman as SVP, Transformation Management Office Effective June 1, 2023 Suominen Oyj announced that Jonni Friman M.Sc. (Industrial Engineering and Management) has been appointed Senior Vice President, Transformation Management Office at Suominen. He will be a member of Suominen's Executive Team and report to President and CEO Tommi Björnman. Friman will start in his new position on June 1, 2023. Primary working experience: Sydeemi Oy, Managing Director, 2016-2023; Capacent Oy, Partner, 2013-2016; Capacent Oy, Business Unit Director, 2010-2013; Capacent Oy, Senior Manager, 2008-2010; Nokia Corporation, several positions in supply chain and business development, 1995-2007. Reported Earnings • May 05
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: €0.07 loss per share (further deteriorated from €0.041 loss in 1Q 2022). Revenue: €116.8m (up 5.9% from 1Q 2022). Net loss: €3.95m (loss widened 69% from 1Q 2022). Revenue missed analyst estimates by 5.8%. Earnings per share (EPS) also missed analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance. Price Target Changed • Apr 11
Price target decreased by 7.7% to €3.00 Down from €3.25, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of €3.00. Stock is down 19% over the past year. The company is forecast to post earnings per share of €0.17 next year compared to a net loss per share of €0.24 last year. Announcement • Feb 03
Suominen Oyj Proposes Dividend for the Financial Year 2022, Payable on April 12, 2023 The Board of Directors of Suominen Oyj proposed to the Annual General meeting, that a dividend of EUR 0.10 per share shall be distributed for the financial year 2022. The record date is April 5, 2023 and the dividend will be paid on April 12, 2023. Announcement • Jan 24
Suominen Oyj Announces CFO Changes Suominen Oyj announced that Sirpa Koskinen, VP, Group Controlling has been appointed as the interim CFO of Suominen as of February 4, 2023. Koskinen has worked in the company since 2015. Koskinen will report to the President & CEO but will not be an Executive Team member. As announced earlier, Suominen’s current CFO Toni Tamminen will leave the company. His last working day at Suominen will be February 3, 2023. Announcement • Jan 14
Suominen Corporation Announces Resignation of Laura Raitio from the Board of Directors Suominen Corporation announced that Laura Raitio has informed that she is no longer available as a candidate for the Board of Directors. Announcement • Jan 10
Suominen Initiates Consultation Procedure Concerning Plan to Permanently Close Manufacturing At Its Mozzate Plant in Italy Suominen Oyj will start consultation with local trade unions regarding a plan to permanently close manufacturing at its Mozzate plant. According to the plan, the production would end during the second quarter of 2023. The consultation will be conducted in accordance with the Italian legislation and applicable National Collective Agreement and is aimed to be completed within 90 days. The Mozzate site currently employs 92 people, working both in production and in office roles. The wipes nonwovens market is rapidly transitioning towards more sustainable alternatives. In line with its strategy, Suominen has set targets to increase the sales of sustainable products and to continuously innovate new environmentally friendly nonwovens. 
