Suominen (SUY1V) Q2 2026 earnings summary

Executive summary

• Q2 2026 net sales grew by 5.8% year-over-year to EUR 105.6 million, mainly driven by higher volumes and U.S. operations, while H1 2026 net sales declined 7.4% year-over-year.

• Comparable EBITDA for Q2 2026 rose to EUR 4.3 million, up 35% from Q2 2025, reflecting cost reductions and early benefits from the Full Potential Program.

• Operational cash flow was negative at -EUR 4.5 million in Q2 2026, but H1 2026 reached breakeven, a clear improvement from last year.

• An oversubscribed rights issue raised approximately EUR 28 million in June-July 2026, strengthening the balance sheet and supporting strategic initiatives.

• The Full Potential Program moved from planning to execution, targeting a 10% EBITDA margin and operational improvements.

Financial highlights

• Q2 2026 net sales: EUR 105.6 million (+5.8% YoY); H1 2026 net sales: EUR 201.2 million (-7.4% YoY).

• Q2 2026 comparable EBITDA: EUR 4.3 million (4.1% margin), up from EUR 3.2 million in Q2 2025; H1 2026 comparable EBITDA: EUR 6.5 million (3.3% margin), down from EUR 7.3 million YoY.

• Q2 2026 operating loss: EUR -1.8 million; Q2 2026 net loss: EUR -3.0 million.

• Cash flow from operations was -EUR 4.5 million in Q2 2026, impacted by net working capital buildup.

• Capital expenditures exceeded EUR 9.4 million in H1 2026, mainly for new production lines in Bethune and Alicante.

Outlook and guidance

• Comparable EBITDA for 2026 is expected to improve over 2025’s EUR 12.6 million.

• The Full Potential Program targets a midterm 10% comparable EBITDA margin and a 2x-3x leverage ratio.

• Tangible improvement in U.S. manufacturing efficiency expected in Q4 2026 and more in 2027.