Suominen's Q1 was fairly in line with Vara Research consensus, while the company also announced a large EUR 10m cost-savings programme. Sales volumes declined y/y, while pricing was supportive on the back of increased raw material prices and commercial execution. We still continue to expect tariff-induced uncertainties to become more visible from Q2 onwards, with higher Asia imported stock levels possibly burdening ASP development. We derive a slightly higher DCF- and multiples-based fair value range of EUR 1.6-2.3 (1.5-2.3) per Suominen share. Marketing material commissioned by Suominen Oyj.
LÄS MER
