Suominen Oyj reported audited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported net sales of EUR 98,694,000 against EUR 100,365,000 a year ago. Operating loss was EUR 267,000 against profit of EUR 3,540,000 a year ago. Loss before income taxes was EUR 1,256,000 against profit of EUR 2,391,000 a year ago. Profit for the period was EUR 6,314,000 or EUR 0.11 per diluted share against EUR 1,632,000 or EUR 0.03 per basic and diluted share a year ago. The decrease in Net Sales were primarily due to the changes in currency exchange rates. The costs related to the growth investments, unfavorable development of product mix and lower gross profit affected the operating profit. Cash flow from operations in the fourth quarter was EUR 3.6 million against EUR 3.5 million a year ago.

For the full year, the company reported net sales of EUR 425,996,000 against EUR 416,862,000 a year ago. Operating profit was EUR 15,000,000 against EUR 25,622,000 a year ago. Profit before income taxes was EUR 12,430,000 against EUR 22,432,000 a year ago. Profit for the period was EUR 14,478,000 or EUR 0.25 per diluted share against EUR 15,233,000 or EUR 0.26 per diluted share a year ago. Cash flow from operations was EUR 22,152,000 against EUR 28,496,000 a year ago. Investments in property, plant and equipment and intangible assets was EUR 33,839,000 against EUR 49,553,000 a year ago. Return on equity, rolling 12 months was 10.6% against 11.6% a year ago. Interest-bearing net debt was EUR 81,360,000 against EUR 56,589,000 a year ago. Return on invested capital, rolling 12 months was 6.6% against 11.6% a year ago. In 2017, net sales increased by 2%, due to the positive development of sales volumes which grew by 4%. The costs related to the growth investments, unfavorable development of product mix and lower gross profit affected the operating profit.

The company expects that in 2018, its net sales and comparable operating profit will improve from 2017. In 2017, Suominen's net sales amounted to EUR 426.0 million and operating profit to EUR 15.0 million. In financial years 2017 and 2016 Suominen had no items affecting the comparability of the operating profit.