Suominen (SUY1V) Q1 2026 earnings summary

Executive summary

• Net sales for Q1 2026 declined 19% year-over-year to EUR 95.6 million, mainly due to lower volumes, currency effects, and lingering impacts from U.S. plant incidents in 2025.

• Comparable EBITDA dropped to EUR 2.2 million from EUR 4.1 million, but improved slightly from Q4 2025.

• Cash flow from operations improved to EUR 4.5 million, supported by working capital improvements and increased factoring.

• A comprehensive three-year Full Potential Program was launched in January 2026 to restore profitability, targeting a 10% EBITDA margin by 2028.

• A new operating model was adopted to enhance customer focus and manufacturing effectiveness.

Financial highlights

• Net sales in Q1 2026 were EUR 95.6 million, reflecting lower volumes and a EUR -5.6 million currency impact.

• Comparable EBITDA for Q1 2026 was EUR 2.2 million, down from EUR 4.1 million in Q1 2025.

• Cash flow from operations improved to EUR 4.5 million, compared to EUR -0.4 million in Q1 2025, supported by a EUR 6.2 million positive change in net working capital.

• Operating profit for Q1 2026 was EUR -4.4 million, with a net loss of EUR -5.7 million and EPS of EUR -0.10.

• Share of new products in net sales was 26%, with a negative mix impact on profit.

Outlook and guidance

• Comparable EBITDA is expected to increase in 2026 compared to 2025 (EUR 12.6 million in 2025).

• The Full Potential Program aims to raise EBITDA margin from 3% to 10% by 2028 and reduce leverage to 2x–3x net debt/EBITDA.

• Volume outlook for the rest of 2026 is higher than Q1, with order intake recovering, especially in the U.S.

• Alicante line in Spain will start commercial production in May, with incremental margin benefits expected in H2 2026 and 2027.