Finland's Kemira net profit down at €31.1m on higher fixed costs

26 July 2012 07:34  [Source: ICIS news]

SINGAPORE (ICIS)--Finland’s Kemira reported on Thursday a 1.89% year-on-year fall in its net profit to €31.1m ($37.9m) on the back of higher fixed costs.

The company’s revenue rose by 2.46% year on year to €562.3m, while earnings before interest, tax, depreciation and amortisation (EBITDA) fell by 5.73% to $57.6m, the company said in a statement.

“In the second quarter Kemira once again was able to compensate the lower sales volumes and higher raw material prices with sales-price increases,” it said.

“Fixed costs, however, continued to increase in all segments and resulted in a decrease in the operative EBIT [earnings before interest and taxes],” the company said.

For the first six months of this year, the company’s net profit fell by 12.4% year on year to €69.9m, with sales up by 0.87% at €1.12bn, it said.

Kemira’s outlook for this year remains unchanged, with expected revenue to be about the same level as in 2011, the company added.

($1 = €0.82)

By: Nurluqman Suratman

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