Suominen: Markets will remain challenging for some time
Suominen’s earnings should finally start to improve in H223 and onwards. However, the oversupply in the markets is likely to hinder Suominen at least through 2024 as well, and we only see a more normalized earnings level in 2025, which is still way below the company’s targets. We feel the valuation is on the high side compared to the earnings potential.
Suominen
Suominen is a manufacturing company. The company manufactures and develops a wide range of napkins, hygiene products, and medical applications. The production is based on non-woven fabrics that can be used for various purposes. Customers are found in a number of industries, with the largest operations in Europe and North America. The company is headquartered in Helsinki.
Read more on company pageKey Estimate Figures18.09.2023
2022 | 23e | 24e | |
---|---|---|---|
Revenue | 493.3 | 466.3 | 461.6 |
growth-% | 11.30 % | -5.48 % | -1.00 % |
EBIT (adj.) | -4.2 | 1.3 | 15.0 |
EBIT-% (adj.) | -0.84 % | 0.29 % | 3.24 % |
EPS (adj.) | -0.16 | -0.08 | 0.15 |
Dividend | 0.10 | 0.10 | 0.15 |
Dividend % | 3.34 % | 4.20 % | 6.30 % |
P/E (adj.) | - | - | 15.66 |
EV/EBITDA | 15.83 | 12.33 | 6.41 |