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 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.
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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