Net revenue for the Americas business area was €68.9 million ($77.8 million) and net revenue for the Europe business area was 46. 7 million euros ($52.7 million).
In fiscal 2021, Suominen’s net sales decreased 3% from the comparable period to €443.2 million ($500.6 million). Sales volumes decreased while sales prices increased due to higher raw material prices. Currencies negatively impacted net sales by €11.1 million ($12.5 million).
Net revenue for the Americas business area was €265.2 million ($299.5 million) and net revenue for the Europe business area was 178. €1 million ($201.1 million).
“The second year of the Covid-19 pandemic has been double for Suominen. In the first half of the year, Suominen’s sales volumes and earnings remained at 2020 record levels. Suddenly, in the third quarter, volumes temporarily dropped due to overstocking in the supply chain, followed by a partial recovery in the fourth quarter,” said Petri Helsky, President and CEO, Suominen.
Suominen continued to execute on its published strategy in 2020. In 2021, the company completed three investment projects. Two of them were in Italy, one to increase capacity by restarting a line and the other to increase its capabilities in durable nonwovens, says Helsky. The third project was in the United States to increase Suominen’s capabilities to offer innovative new products.
“The cornerstone of our strategy is sustainability, and we are continuously developing our offering and our operations accordingly,” he says. “We aim to increase sales of sustainable products by 50% compared to the base year 2019 and to launch 10 sustainable products per year. In 2021, sales of sustainable products increased by 47% compared to the 2019 base year and during the year we launched 16 sustainable products. In our operations, we want to use resources efficiently and operate with the least possible impact on the environment. We have concrete targets to reduce our greenhouse gas emissions, energy consumption, water consumption and landfill waste and we have made steady progress towards these targets in 2021. By For example, as part of our work to reduce greenhouse gas emissions, we made the decision to switch entirely to fossil-free electricity at all our European sites.
Looking to the year ahead, the company sees challenges, particularly in the months ahead. “Some major customers are still struggling with their inventory levels,” says Helsky. “Combined with the recent surge in Covid-19 cases which is impacting both our operations and those of our customers, the short-term demand picture looks very volatile. We also continue to have a mismatch between rising raw material, energy and logistics costs and our selling prices. We expect demand for our products to stabilize from the second quarter of the year as end consumer demand is expected to remain above pre-pandemic levels. »