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2017-12-13 08:00:00 CET 2017-12-13 08:00:00 CET REGULATED INFORMATION Suominen Oyj - Inside informationSuominen expects weak profitability for Q4, guidance remains intactSuominen Corporation Stock Exchange Release 13 December 2017 at 9:00 am EET Suominen expects weak profitability for Q4, guidance remains intact On 20 July 2017, Suominen revised its estimate regarding the operating profit development in 2017 and announced that for the full year 2017, its comparable operating profit will fall short of the 2016 level (in 2016: EUR 25.6 million). While Suominen considers the current verbal guidance to be correct, it provides preliminary information on the anticipated development of its profitability during the fourth quarter of 2017. Suominen’s new production line at the Bethune, SC, USA plant is still in the ramp-up phase. While the production volumes have continuously increased, the development has been slower than expected and we have had difficulties in reaching the anticipated performance level due to machinery-related design issues. However, we still expect that the new line will contribute positively to Suominen’s gross profit as of the beginning of 2018. Suominen repeats its estimate and expects that for the full year 2017, its net sales will improve from year 2016 but its comparable operating profit will fall short of the 2016 level. In 2016, Suominen’s net sales amounted to EUR 416.9 million and comparable operating profit to EUR 25.6 million. |
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