Finland's Kemira Q4 net profit surges on higher operating margins

Author: Nurluqman Suratman

2021/02/11

SINGAPORE (ICIS)--Kemira's net profit surged to €23.8m in the fourth quarter amid higher margins despite a drop in sales, the Finland-based chemicals firm said on Thursday.

€ million Q4 2020 Q4 2019 % change 2020 2019 % change
Sales 605.6 657.7 -8% 2,427 2,659 -9%
EBITDA 91.2 69.6 31% 413 382 8%
Net profit 23.8 8.6 177% 138 116.5 18%

- Sales volumes and prices declined.
- Fourth-quarter operative earnings before income and taxes (EBIT) margins rose to 9.4% from 6.4% in the same period a year earlier.

Outlook
Kemira's operative EBITDA is expected to be at the same or "at a slightly (less than 5%) lower level than in 2020 (€43m)", the company said.

"COVID-19 pandemic continues to cause uncertainty in 2021, but Kemira's end market demand is expected to recover gradually from 2020 in line with forecasted economic growth. Demand, particularly in the oil and gas market, is expected to recover," it added.

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