Record year in 2020 with sales +11.5%
Sales volumes went up with the pandemic-driven high demand for wipes, while sales prices decreased following lower raw material prices. Operating profit for 2020 improved significantly and amounted to €39.5 million (2019: €8.1 million) thanks to higher production and sales volumes, favorable raw material prices, and improved production and raw material efficiency.
Sales of the Americas business area for January-December 2020 were €289.1 million (2019: €261.7 million) and for the Europe business area €169.9 million (2019: €149.8 million). Net sales in Q4/2020 amounted to €66.8 million (2019: €62.2 million) for the Americas business area and €44.3 million (2019: €32.3 million) for the Europe business area.
Suominen announced in April that it strengthens its capabilities for sustainable products by enhancing one of its production lines in Cressa/Italy. The total value of the investment is approx. €4 million and it will be finalized during the 2nd half (H2) of 2021. Suominen will also increase its capabilities in the Americas by upgrading one of its production lines in Bethune, SC/USA. With a total value of the investment at approx. €6 million and the investment project will be finalized during the H2/2021.