Suominen

Suominen’s operating environment remains quite challenging, but sales volumes and mix should be increasing from here on.

Suominen’s Q1 figures were lower than estimated yet the company retains its guidance for improving FY’26 comparable EBITDA as in our view the bar has been set quite low especially in H2’26.

Suominen Q1 comparable EBITDA of EUR 2.2m came 33% below Vara Research consensus expectations. Net sales of EUR 96m were down 19% y/y and came 7% below consensus. FX had EUR 5.6m negative impact on sales and EUR 0.1m positive impact on EBITDA. The company...

Suominen reports Q1 results on May 7. There’s a lot of room to improve from the low comparison figures, but the operating environment still doesn’t appear favorable in the short-term while earnings multiples already imply expectations which might take...

Ahead of Suominen's Q1 report, we lower 2026E-27E comparable EBITDA by 16-28% owing to increasing raw material, energy and logistics costs. Roughly half of Suominen's energy consumption relates to natural gas, while fossil-based raw materials represent...