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Sales decrease 14.5% to €98.7 million
October 29, 2021
By: Tara Olivo
In the third quarter of 2021, Suominen’s net sales decreased from the comparison period by 14.5% to €98.7 million ($114.1 million). Currencies impacted the net sales by €0.7 million ($809,000. Suominen has two business areas, Americas and Europe. Net sales of the Americas business area amounted to €57 million ($65.9 million) and net sales of the Europe business area to €41.6 million ($48 million). The pandemic has increased the demand for Suominen’s products in all of its markets. Towards the end of the second quarter of 2021 the demand started to decelerate especially in North America, but the demand has started to recover in late Q3. In the long run the market and Suominen’s expectation is that demand will remain above pre-Covid-19 levels. Suominen’s financial position has remained strong throughout the pandemic.
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