Company Overview
Suominen is a Finnish company that specializes in the production of specialty papers, including kraft paper, tissue paper, and filter paper. With over 100 years of experience, Suominen has established itself as a leading player in the industry, known for its high-quality products and commitment to sustainability. The company's primary mission is to provide innovative solutions to its customers while minimizing its environmental impact. Suominen's core values include a strong focus on innovation, quality, and customer satisfaction, as well as a commitment to responsible operations and sustainable practices.
Suominen's product portfolio includes a range of specialty papers used in various applications, such as filter paper for air and water filtration, tissue paper for personal care products, and kraft paper for packaging and printing. The company's products are designed to meet the specific needs of its customers, providing them with high-quality materials that can help improve their products and processes.
Suominen's commitment to sustainability is reflected in its efforts to reduce its environmental impact through various initiatives, such as energy-efficient production processes, waste reduction programs, and the use of renewable energy sources. The company has also set ambitious targets for reducing its greenhouse gas emissions and has implemented a range of measures to achieve these goals.
Overall, Suominen is a well-established company with a strong reputation for quality and sustainability. Its commitment to innovation and customer satisfaction, combined with its efforts to minimize its environmental impact, make it an attractive investment opportunity for those looking to support responsible business practices.
Key Products/Services:
Suominen's product portfolio includes:
- Filter paper for air and water filtration
- Tissue paper for personal care products
- Kraft paper for packaging and printing
These products are designed to meet the specific needs of Suominen's customers, providing them with high-quality materials that can help improve their products and processes.
The benefits of Suominen's products include:
- High-quality materials for improved product performance
- Innovative solutions to meet customer needs
- Commitment to sustainability and responsible operations
Suominen's products offer a unique combination of quality, innovation, and sustainability, making them an attractive choice for customers in various industries.
Investment
Suominen is a well-established company with a strong reputation for quality and sustainability. Its commitment to innovation and customer satisfaction, combined with its efforts to minimize its environmental impact, make it an attractive investment opportunity for those looking to support responsible business practices.
Overall, Suominen is a solid investment opportunity for those looking to support responsible business practices and benefit from the company's commitment to quality and sustainability.
Valuation
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Number of Shares (million) | 57.5 | 57.7 | 57.7 | 58.3 | 135.4 | 135.4 | 135.4 |
| Target Valuation (MEur) | 92.0 | 86.8 | 91.7 | 60.9 | 47.5 | 59.3 | 59.3 |
| Targer Price | 1.6 | 1.51 | 1.59 | 1.04 | 0.35 | 0.44 | 0.44 |
| Potential, % | -46.6 | -47.2 | -30.3 | -41.6 | -49.6 | -37.0 | -37.0 |
| Recommendation | Sell | Sell | Sell | Sell | Sell | Sell | Sell |
| MCAP (MEur) | 172.2 | 164.4 | 131.6 | 104.3 | 94.2 | 94.2 | 94.2 |
| Price | 3.0 | 2.85 | 2.28 | 1.79 | 0.7 | 0.7 | 0.7 |
| EV | 227.0 | 208.0 | 192.0 | 182.0 | 153.0 | 154.0 | 155.0 |
| P/S | 0.35 | 0.36 | 0.28 | 0.25 | 0.23 | 0.23 | 0.23 |
| EV/S | 0.46 | 0.46 | 0.42 | 0.44 | 0.38 | 0.38 | 0.38 |
| EV/EBIT | -25.31 | -27.74 | -153.09 | -30.81 | -13.43 | -14.42 | -14.12 |
| P/E | -12.42 | -9.81 | -24.88 | -8.64 | -7.33 | -11.02 | -10.74 |
| P/B | 1.18 | 1.32 | 1.12 | 1.09 | 0.84 | 0.9 | 0.99 |
| P/OCF | 12.27 | 5.35 | 34.12 | 8.54 | 8.31 | 4.93 | 4.86 |
| EV/OCF | 16.16 | 6.79 | 49.89 | 14.89 | 13.52 | 8.06 | 7.98 |
| P/FCF | 40.1 | 8.35 | -25.19 | -7.87 | -10.25 | -101.97 | -146.31 |
| EV/FCF | 52.81 | 10.59 | -36.84 | -13.73 | -16.67 | -166.82 | -240.35 |
Income Statement
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Revenue | 493.3 | 450.9 | 462.3 | 412.4 | 404.6 | 406.2 | 404.5 |
| Rev. Growth, % | 11.3 | -8.6 | 2.5 | -10.8 | -1.9 | 0.4 | -0.4 |
| Ebit | -9.0 | -7.5 | -1.3 | -5.9 | -11.4 | -10.7 | -11.0 |
| Ebit Growth, % | -133.5 | 16.7 | 82.7 | -353.8 | -93.2 | 6.1 | -2.8 |
| Ebit, % | -1.8 | -1.7 | -0.3 | -1.4 | -2.8 | -2.6 | -2.7 |
| Profit | -13.9 | -16.8 | -5.3 | -12.1 | -12.9 | -8.6 | -8.8 |
| EPS | -0.24 | -0.29 | -0.09 | -0.21 | -0.1 | -0.06 | -0.07 |
| Profit Growth, % | -167.1 | -20.9 | 68.5 | -128.3 | -6.6 | 33.3 | -2.3 |
| Profit, % | -2.8 | -3.7 | -1.1 | -2.9 | -3.2 | -2.1 | -2.2 |
Balance Sheet
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Inventory | 63.3 | 37.9 | 47.5 | 40.4 | 41.8 | 40.1 | 41.2 |
| Acc. Receivable | 66.6 | 62.3 | 62.5 | 38.1 | 40.3 | 40.2 | 40.2 |
| Cash | 49.5 | 58.8 | 41.3 | 32.1 | 22.2 | 21.3 | 20.7 |
| Equity | 145.9 | 124.9 | 117.6 | 96.1 | 112.8 | 104.3 | 95.5 |
| ROE, % | -9.5 | -13.5 | -4.5 | -12.6 | -11.4 | -8.2 | -9.2 |
| ROCE, % | -3.6 | -3.3 | -0.6 | -2.9 | -5.9 | -5.8 | -6.2 |
| Net Debt | 54.6 | 44.1 | 60.8 | 77.6 | 59.0 | 59.9 | 60.6 |
| Gearing, % | 37.4 | 35.3 | 51.7 | 80.7 | 52.3 | 57.5 | 63.4 |
| Equity ratio, % | 42.5 | 39.5 | 37.9 | 35.3 | 38.1 | 36.6 | 35.3 |
| Acc. Payable | 79.8 | 75.1 | 81.8 | 62.0 | 66.8 | 68.6 | 68.1 |
| Total Assets | 343.4 | 316.4 | 310.4 | 272.4 | 296.2 | 285.2 | 270.3 |
| ROA, % | -4.0 | -5.3 | -1.7 | -4.4 | -4.4 | -3.0 | -3.3 |
Cash Flow
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 14.0 | 30.7 | 3.9 | 12.2 | 11.3 | 19.1 | 19.4 |
| Investment Cash Flow | -9.7 | -11.0 | -9.1 | -25.5 | -20.5 | -20.0 | -20.0 |
| Free Cash Flow | 4.3 | 19.7 | -5.2 | -13.2 | -9.2 | -0.9 | -0.6 |
| OCF/CAPEX | 1.44 | 2.79 | 0.42 | 0.48 | 0.55 | 0.95 | 0.97 |
| Financial Cash Flow | -59.9 | -9.0 | -9.1 | 7.2 | -1.6 | 0.0 | 0.0 |
Disclaimer
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