Financial targets
Kemira’s financial targets and outlook for 2020
(updated July 17, 2020)
Financial targets and historical figures
| Targets | 2016 | 2017 | 2018 | 2019 |
| Above-the market growth | EUR 2,363 million
Change 0% |
EUR 2,486 million
Change +5% |
EUR 2,593 million
Change +4% |
EUR 2,659 million
Change +3% |
| Operative EBITDA 15-17% |
12.8% | 12.5% | 12.5% | 15.4% |
| Gearing below 75% | 54% | 59% | 62% | 66% |
Read more: Debt Information
Outlook for 2020
Kemira provided an outlook for H2 2020 on July 17, 2020: Operative EBITDA in H2 2020 expected to be lower than in H1 2020
OUTLOOK FOR JULY-DECEMBER 2020
Operative EBITDA in H2 2020 is expected to be lower than in H1 2020 (H1 2020: EUR 214 million).
Assumptions behind Kemira’s outlook for July-December 2020:
Overall demand in Kemira’s end markets in H2 2020 is expected to be approximately at the same level as in Q2 2020. Demand in Pulp & Paper is expected to remain approximately at the Q2 2020 level, with printing and writing demand to remain weak. Also in Industry & Water, demand is expected to remain approximately at the Q2 2020 level. The shale market is not anticipated to recover in 2020.
Kemira’s outlook for H2 2020 assumes no significant disruptions to Kemira’s manufacturing operations or supply chain.
Previous outlook (published April 27, 2020):
On April 27, 2020, Kemira withdrew its outlook for 2020 due to the uncertainty following the COVID-19 pandemic and the oil price drop.
| EUR million | 2016 | 2017 | 2018 | 2019 | H1 2020 | H2 2020 outlook |
| Operative EBITDA | 303 | 311 | 323 | 410 | 214 | Lower than H1 2020 |