Brief: Suominen Q1 Operating Profit Rises To EUR 5.7 Mln

Suominen Oyj

23/04/2020 07:36

April 23 (Reuters) - Suominen Oyj  SUY1V.HE :
    * REG-SUOMINEN CORPORATION’S INTERIM REPORT FOR JANUARY 1 –
MARCH
31, 2020:  OPERATING PROFIT NEARLY DOUBLED, STRONG CASH FLOW
    * Q1 NET SALES EUR 110.2 MILLION VERSUS EUR 109.8 MILLION
YEAR AGO
    * EXPECTS THAT IN 2020 ITS COMPARABLE OPERATING PROFIT WILL
IMPROVE CLEARLY FROM 2019
    * Q1 OPERATING PROFIT EUR 5.7 MILLION VERSUS EUR 3.0 MILLION
YEAR
AGO
    * RESULT ESTIMATE FOR SECOND HALF OF YEAR IS UNCERTAIN DUE
TO
COVID-19 PANDEMIC
    * ON CORONAVIRUS: COVID-19 PANDEMIC INCREASED SALES VOLUMES
IN ALL
OUR MARKETS TOWARDS END OF QUARTER AND IN SHORT TERM HIGHER
DEMAND IS EXPECTED TO CONTINUE
    * ON CORONAVIRUS: IN LONGER TERM COVID-19 PANDEMIC MAY LEAD
TO
CONTINUED INCREASED DEMAND FOR NONWOVENS FOR CLEANING AND
DISINFECTION APPLICATIONS
    * SUOMINEN EXPECTS THAT IN 2020 ITS COMPARABLE OPERATING
PROFIT
WILL IMPROVE FROM 2019
    * HOWEVER IN SECOND HALF OF YEAR THIS COVID-19 CAUSED DEMAND
SURGE
MAY ALREADY HAVE CALMED DOWN

Source text for Eikon:  ID:nGNE5cyR9x 
Further company coverage:  SUY1V.HE 

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