Suominen the Helsinki-headquartered manufacturer of nonwovens as roll goods for wipes and other applications, has reduced its expectations for its 2021 financial year and now expects to see a fall in earnings compared to 2020.

“The market expectation is that in the long run the end user demand for wipes will remain above pre-Covid levels,” said CEO Petri Helsky “However, towards the end of the second quarter our customers –  especially in North America – started to experience a sudden deceleration of demand, which in combination with extraordinary stockpiling throughout the entire supply chain has created an imbalance of inventories.

“This has also impacted Suominen’s orders. We expect that the demand for our products will recover once this temporary imbalance is cleared. Our current view is that the recovery will start in the fourth quarter of 2021.

Suominen’s net sales in 2020 were €458.9 million.

www.suominen.fi