Suominen: We are still waiting for signals of improvement
We feel the overall picture of Suominen's Q2 report published yesterday, was neutral, although the clear estimate undercut and weak gross margin in Q2 depressed our 2022 estimates. Although clear weakness is already priced into the share even in a longer perspective, we still wait for certainty about the earning trend hitting rock bottom and the slope of the turnaround before considering revising our recommendation into the positive.
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 Figures09.08.2022
2021 | 22e | 23e | |
---|---|---|---|
Revenue | 443.2 | 488.2 | 488.0 |
growth-% | -3.42 % | 10.15 % | -0.04 % |
EBIT (adj.) | 26.9 | 2.5 | 21.4 |
EBIT-% (adj.) | 6.08 % | 0.52 % | 4.39 % |
EPS (adj.) | 0.31 | -0.02 | 0.24 |
Dividend | 0.20 | 0.10 | 0.13 |
Dividend % | 3.86 % | 4.35 % | 5.65 % |
P/E (adj.) | 16.75 | - | 9.67 |
EV/EBITDA | 7.35 | 8.07 | 4.11 |