Suominen

Suominen's Q2 result exceeded our expectations and outperformed the comparison period. However, earnings remain weak in absolute terms.

17:13

Following its rights issue, Suominen's strengthened balance sheet now allows the company to fully focus on executing its Full Potential turnaround program. However, there is still plenty of work ahead.

We estimate revenue to have jumped to 113 MEUR, but rising costs to have kept the result weak.

The company raises 28 MEUR in gross proceeds through the offering.

We updated the impact of the share issue on our estimates, but operationally our assumptions remained unchanged.

The rights issue will dilute the share capital by up to 57% and offers new shares at a price of EUR 0.36.