• Thu. Feb 29th, 2024

Kemira Beats Expectations with Record High Profitability Despite Pulping Chemical Sales Decline

ByEditor

Feb 11, 2024
Kemira’s year-end pace slowed due to decrease in chemical prices – Economy

Kemira, a leading industrial chemical company, reported its financial performance for the year ending December 31, 2020. Despite experiencing a decline in net sales during the October-December period, Kemira’s operating profit increased by 17 percent from the previous year to EUR 667 million. The decrease in net sales was attributed to lower sales prices of energy-intensive pulp and bleaching chemicals. However, the sale of the Oil & Gas business resulted in a significant loss that reduced the actual operating profit to just under EUR 113 million.

Kemira’s turnover for the whole year fell to EUR 3.38 billion, but its profitability reached a record high last year with an operating EBITDA of EUR 667 million. As a reward to its shareholders, Kemira announced a dividend payment of EUR 0.68 per share. This is an increase from the previous year’s dividend payment of EUR 0.59 per share.

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