SUOMINEN CORPORATION REVISES ITS FINANCIAL TARGETS
Tampere, Finland, 2012-12-05 12:40 CET (GLOBE NEWSWIRE) --
Suominen Corporation Stock exchange release December 5, 2012 at 1:40 pm EET
SUOMINEN CORPORATION REVISES ITS FINANCIAL TARGETS
The Board of Directors of Suominen Corporation has set new medium term financial targets for the company. The targets are related to improvement in the company’s relative profitability, solid capital structure and organic growth. Suominen aims to further strengthen its position as the global market leader in nonwovens for wipes.
Profitability:
Suominen aims to clearly improve its relative profitability. The target level of the company’s return on investment (ROI) is to be above 10%. In January-September 2012, Suominen’s ROI was 4.6%.
Capital structure:
Suominen aims to have a solid capital structure with a gearing ratio principally between 40% and 80%. In January-September 2012, Suominen’s gearing ratio was 99.4%.
Growth:
Suominen aims to increase its net sales at a rate that exceeds the average growth rate of the industry.
When calculating return on investment and gearing ratios, the company applies the accounting principles and formulas used in the Financial Statements.
Suominen will disclose preliminary information on its 2012 financial result on Thursday, January 31, 2013.
Helsinki, December 5, 2012
Suominen Corporation
Nina Kopola
President and CEO
For additional information, please contact
Mrs. Nina Kopola, tel. +358 (0) 10 214 300
Suominen supplies its industrial and retail customers with nonwovens, wet wipes and flexible packaging for use in consumer products worldwide. Suominen is the global market leader in nonwovens for wipes. The company employs approximately 1,200 persons in Europe and in the United States. Suominen’s net sales in January-September amounted to MEUR 345.9 and operating profit was MEUR 9.1. The Suominen share (SUY1V) is listed in NASDAQ OMX Helsinki Stock Exchange. Read more at www.suominen.fi.
Distribution:
NASDAQ OMX Helsinki Ltd.
Main media
www.suominen.fi
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