Finland’s Kemira Q1 net profit falls 21% to €29.9m

24 April 2012 07:19  [Source: ICIS news]

SINGAPORE (ICIS)--Finland’s Kemira reported on Tuesday a 21% year-on-year fall in its first-quarter 2012 net profit to €29.9m ($39.3m) because of lower sales volumes and higher raw material prices.

Sales for the first three months of the year fell by 0.7% to €552.9m, the Finnish chemical firm said in a statement.

Its earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter fell by 9.6% to €61.8m and its operative EBIT shrank by 14.9% to €38.2m, Kemira said.

“In the near term, uncertainty in Europe and a slowdown in global economic growth may affect the demand for our products,” Kemira president and CEO Wolfgang Buchele said in the statement.

The company’s revenue and operative EBIT this year are expected to be about the same as in 2011, assuming there is no major economic disruption and no further substantial spike in oil prices, Buchele said.

($1 = €0.76)

By: Pearl Bantillo
+65 6780 4359

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