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    SPINN   FI4000507595


Delayed Nasdaq Helsinki  -  05/20 11:29:35 am EDT
7.755 EUR   +0.32%
05/19SPINNOVA PLC : Teemu Lindberg joins Spinnova to lead Production Scaling
05/19Teemu Lindberg Joins Spinnova to Lead Production Scaling
05/13SPINNOVA PLC : Managers' Transactions
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Spinnova joins the UN Global Compact

01/13/2022 | 02:48am EDT

The sustainable textile material company Spinnova has become a signatory of the United Nation's Global Compact, the world's largest corporate sustainability initiative.

The United Nations Global Compact promotes the ecological, social, and economic responsibility of companies and non-business organizations. The initiative requires commitment to the UNGC's ten universally accepted principles and calls for action in support of the UN's Sustainable Development Goals.

By signing the UNGC letter of commitment, Spinnova commits to sustainable principles and improvement in human rights, labor, environment, and anti-corruption.
- Our sustainable fibre innovation supports several of the Sustainable Development Goals, and committing to the compact's principles on a concrete level comes naturally for us. It's an honor to make this pledge and stand alongside the United Nations and the community around it, comments Spinnova's CEO and co-founder Janne Poranen.

The commitment means Spinnova integrates the UN Global Compact and its principles to its strategy, culture, and day-to-day operations, and engages in collaborative projects that advance the broader development goals of the UN, particularly the Sustainable Development Goals. To support public accountability and transparency, Spinnova also commits to reporting on its progress within one year of joining the compact, and annually thereafter according to the UN Global Compact Communication on Progress policy.

The UN Global Compact is the world's largest sustainability initiative with more than 14,000 companies and over 3,000 non-business organizations in over 160 countries. There are 165 Finnish participants in the UNGC.

Read more on the UNGC: https://www.unglobalcompact.org/

Emmi Berlin
Head of Communications

Spinnova - Sustainable textile materials, naturally

Spinnova transforms the way textiles are manufactured globally. Based in Finland, Spinnova has developed breakthrough technology for making textile fibre out of wood or waste, such as leather, textile or food waste, without harmful chemicals.

The patented SPINNOVA® fibre creates zero waste and side streams or microplastics, and its CO2 emissions and water use are minimal. SPINNOVA® materials are quickly biodegradable and circular. Spinnova is committed to using only sustainable raw materials such as FSC certified wood and waste.

Spinnova has received awards from e.g. the Fast Company, ISPO, Scandinavian Outdoor, ANDAM, Monocle and Marie Claire UK.

Spinnova's shares (SPINN) are listed on the Nasdaq Helsinki First North Growth Market.

SPINNOVA® home: www.spinnova.com
Corporate & IR site: www.spinnovagroup.com


(c) 2022 Cision. All rights reserved., source Press Releases - English

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Sales 2022 26,0 M 27,4 M 27,4 M
Net income 2022 -4,96 M -5,23 M -5,23 M
Net cash 2022 54,8 M 57,9 M 57,9 M
P/E ratio 2022 -77,6x
Yield 2022 -
Capitalization 398 M 420 M 420 M
EV / Sales 2022 13,2x
EV / Sales 2023 3,72x
Nbr of Employees 58
Free-Float 63,6%
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Last Close Price 7,76 €
Average target price 10,00 €
Spread / Average Target 28,9%
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Managers and Directors
Janne Tapani Poranen Chief Executive Officer & Director
Ben Selby Chief Financial Officer
Timo Juhani Soininen Chairman
Juha Matti Salmela Director & Chief Technology Officer
Petri Poranen Chief Operating Officer
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