Kemira’s financial targets and outlook for 2023
Financial targets and historical figures
| Targets | 2018 | 2019 | 2020 | 2021 | 2022 |
| Above-the market growth |
EUR 2,593 million Change +4% |
EUR 2,659 million Change +3% |
EUR 2,427 million Change -4% |
EUR 2,674 million Change +10% |
EUR 3,570 million Change +33% |
| Operative EBITDA 15-18% |
12.5% | 15.4% | 17.9% | 15.9% | 16.0% |
| Gearing below 75% | 62% | 66% | 63% | 63% | 46% |
Read more: Debt Information
Outlook for 2023
Revenue
Kemira’s revenue is expected to be between EUR 3,200 and EUR 3,700 million in 2023 (2022: EUR 3,569.6 million).
Operative EBITDA:
Kemira’s operative EBITDA is expected to be between EUR 550 and EUR 650 million in 2023 (2022: EUR 571.6 million).
Assumptions behind outlook (specified on July 18)
Kemira’s end-market demand (in volumes) is expected to decline. Demand is expected to be resilient in water treatment, while demand in the pulp and paper market is expected to be weak following economic slowdown and continued destocking in the customer value chain. Demand in the oil & gas market is expected to grow. Variable costs overall are expected to decline, while electricity prices are expected to remain above long-term average in Europe. Market prices for caustic soda are expected to moderate during 2023. The outlook assumes no major disruptions to Kemira’s manufacturing operations, supply chain, or Kemira’s energy-generating assets in Finland. Foreign exchange rates are expected to remain at approximately current levels. The outlook is based on Kemira’s current portfolio, including the Oil & Gas business.
| EUR million | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 outlook |
| Operative EBITDA | 323 | 410 | 435 | 426 | 572 | Expected to be between EUR 550 – EUR 650 million |