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Suominen
2521 sijoittajaa seuraa tätä yhtiötä
OSTO 3.42 ALIN 3.42 VAIHTO (KPL) 4 297
MYYNTI 3.45 YLIN 3.47 VAIHTO (VAL) 0,015 Milj. EUR

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Analyytikko

Antti Viljakainen
+358 44 591 2216

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Tyyppi: company_report
13.5.
2020

We retain recommendation to accumulate for Suominen and adjust our target price to 3.50 EUR (prev. 3.25 EUR) reflecting small positive estimate revisions. We argue Suominen’s valuation is still moderate on the short term but also on the medium term, while risk profile is reducing simultaneously due to recent positive progress and certain external factors. Therefore, Suominen’s expected TSR is on good level of 10-13 % p.a both short and medium term, which is sufficient to purchase the stock.

Tyyppi: 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.

Tyyppi: company_report
30.1.
2020

Suominen’s Q4-figures were weaker than what we were expecting through all P&L lines and we, once again, cut our expectations regarding the slope of the profitability turnaround. Suominen’s earnings-based valuation is still quite high on short-term basis and we do not consider the next 12 months risk adjusted TSR to be sufficient taking turnover related risks into account.

Tyyppi: company_report
23.10.
2019

Suominen’s Q3-figures were weaker than what we were expecting through all P&L lines. Tame report once again decreased our expectations regarding the slope of the profitability turnaround. In the short-term Suominen’s multiples-based valuation is high taking related turnover risks into account.

Tyyppi: company_report
8.8.
2019

Suominen’s Q2-figures were comprehensively weaker than we were expecting and the tame report did not increase our expectations regarding the slope of the profitability turnover. The company’s earnings-based valuation is high on the short term and we do not see the next 12 months expected TSR to be a sufficient taking turnover related risks into account. Therefore, we continue to wait for lower risks and/or wider margins of safety with Suominen.

Tyyppi: company_report
24.4.
2019

Suominen’s Q1-result exceeded slightly our expectations. The report also proved that Suominen is back on track with its profitability turnaround. However, we are not expecting the turnaround to be rapid nor steep.  In our opinion, the valuation has been stretched enough after recent stock market rally (YTD +27 %). Thus we do not see the next 12 month’s expected return to be attractive enough when taking into account the risks related to the turnaround.

Tyyppi: company_report
1.2.
2019

Suominen’s Q4-report was a bit weaker than what we were expecting but development of revenue (i.e. pricing) was favorable and stabilized increase of raw material prices have raised our confidence that Suominen’s profitability turnaround will reach its track during the year of 2019. Therefore we believe that the worst is already behind from margins perspective. The level of uncertainty that is related to profitability turnover is still high and we want to see clear signs of positive development before we are comfortable enough to lean on Suominen’s long-term potential.

Tyyppi: 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.

Tyyppi: 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.

Tyyppi: company_report
5.8.
2018

Suominen’s Q2-report appeared as a disappointment to us due to weak margin performance. In addition, the company changes its CEO. We adjust Suominen’s target price 3.30 EUR (prev. 3.50 EUR) and retain recommendation at reduce. We urge investors to keep on waiting for a better risk/reward before purchasing the stock.

Suominen

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Inderes Yhtiöasiakas

Suominen lyhyesti

Suominen valmistaa kuitukankaita rullatavarana pyyhintätuotteisiin sekä muihin sovelluksiin. Visiomme on olla edelläkävijä innovatiivisissa ja vastuullisissa kuitukankaissa. Suomisen kuitukankaista valmistetut lopputuotteet, esimerkiksi kosteuspyyhkeet, terveyssiteet ja haavataitokset, ovat läsnä ihmisten jokapäiväisessä elämässä ympäri maailmaa. Suomisen liikevaihto vuonna 2019 oli 411,4 milj. euroa ja työllistämme lähes 700 ammattilaista Euroopassa sekä Pohjois- ja Etelä-Amerikassa. Suomisen osake noteerataan Nasdaq Helsingissä. Lue lisää: www.suominen.fi.