Suominen’s CEO Charles Héaulmé was interviewed by Rauli regarding the Q2 results
Topics:
00:00 Introduction
00:12 Key highlights of Q2
02:16 Demand situation
05:39 Sales mix
07:33 Raw material costs and price increases
08:50 Future innovations as growth drivers
12:13 Guidance
14:45 Delay in the ramp-up of the Alicante plant
Rauli has published an equity research report on Suominen following their Q2 results
Suominen’s Q2 result was better than we expected and better than the comparison period. The company reiterated its full-year guidance of increasing earnings. However, the absolute level of profitability is still weak, and the earnings improvement driven by the efficiency program we forecast will be used to digest the valuation multiples, which is why we see the return expectation as weak. We reiterate our “Reduce” recommendation but raise the target price to €0.63 (previously €0.60) due to upward revisions to our forecasts.
Odotamme Suomisen uusivan joukkovelkakirjalainansa lähikuukausina, ja nostimme rahoituskuluennusteitamme lähivuosille. Osakkeen tulospohjainen arvostus on edelleen erittäin korkea, yhtiön nettotuloksen kääntyessä ennusteissamme hienoisesti plussalle vasta 2028. Toistamme vähennä-suosituksen ja laskemme tavoitehinnan 0,6 euroon (aik. 0,63e) ennustemuutosten myötä.