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Suominen

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Antti Viljakainen

Antti Viljakainen

Pääanalyytikko

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Company report
29.10.
2021

Suominen’s Q3 result was very weak, but more importantly, market comments and further details related to the guidance confirmed that demand recovery has begun. Suominen’s valuation is very moderate from all angles and thus we also find the return expectation good, given that the level of Q3 represent the rock bottom for the earnings.

Company report
16.8.
2021

Suominen’s Q2 result was better than we expected but due to the profit warning issued one day before the report the situation has clearly moved to the negative. We do not find the share valuation to be high despite estimate cuts. In addition, 4 % dividend yield encourages to look behind temporarily challenges.

Company report
29.4.
2021

The Q1 report released by Suominen yesterday was operationally better than we expected. The outlook for the near term is strong in terms of demand but increasing raw material prices will act as a break in the next few quarters. We see the upside in the share’s low valuation and 4% dividend yield offer a good expected return for investors even though we do not expect the result to grow from last year’s high level in the next couple of years.

Company report
24.4.
2020

Suominen’s Q1-report was significantly better than we expected, and company also revised its FY20 guidance upwards. Coronavirus pandemic will give some short-term tailwind but based on Q1-report, we also believe that Suominen has been able to improve its performance in commercial frontier as well as within its production sites at least in US before the pandemic’s outburst. Suominen’s cash flow valuation is cheap and we consider next 12 months risk adjusted TSR to be adequate

Company report
26.10.
2018

Suominen’s Q3-report appeared once again as a disappointment to us due to very weak margin performance.  We argue that volume and balance sheet based valuation should give some support for the share at this stage but there is no reason to buy the share before the profitability will be on the right path.

Company report
14.9.
2018

Suominen’s short term risk/reward has become clearly unsatisfactory in our opinion after the company's recent profit warning.

Company report
4.7.
2018

We retain our 3.50 euro target price and reduce recommendation for Suominen. We estimate that Suominen’s earnings will recover from difficult years of 2016 and 2017, where critical elements are pricing, product mix transformation, and production ramp-up in Bethune. However, we consider short term valuation too high given major uncertainty over the speed of profit recovery in challenging trading conditions. Medium term potential remains but we are not willing to stretch short term valuation at this point.

Company report
2.5.
2018

Suominen’s Q1-report was a clear disappointment to us due to severe margin pressure driven by raw-materials. We urge investors to keep on waiting for a better risk/reward as Suominen’s valuation and risks are too high in the short term.

Company report
6.4.
2018

We have made negative estimate revision on Suominen's profit estimates after the company's latest trading update in AGM.  We argue the Suominen’s valuation remain elevated on the short term and the company’s recent negative profit trend and still high estimate risks do not justify giving more weight on Suominen’s potential over longer time frame yet.

Company report
22.2.
2018

We argue that Suominen’s short term risk/reward-ratio is not attractive enough to purchase the share yet.

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