Kemira’s financial targets and outlook for 2021
Kemira updated its financial targets on November 19, 2020. Kemira’s target for operative EBITDA margin has been updated to 15-18% (previously 15-17%), while other financial targets remain unchanged.
Financial targets and historical figures
| Targets | 2017 | 2018 | 2019 | 2020 |
| Above-the market growth | EUR 2,486 million
Change +5% |
EUR 2,593 million
Change +4% |
EUR 2,659 million
Change +3% |
EUR 2,427 million
Change -4% |
| Operative EBITDA 15-18% |
12.5% | 12.5% | 15.4% | 17.9% |
| Gearing below 75% | 59% | 62% | 66% | 63% |
Read more: Debt Information
Outlook for 2021
Revenue
Kemira’s revenue in local currencies, excluding acquisitions and divestments, is expected to increase from 2020 (EUR 2,427 million).
Operative EBITDA
Kemira’s operative EBITDA is expected to be at the same or at a slightly (less than 5%) lower level than in 2020 (EUR 435 million).
Assumptions behind outlook
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. The outlook assumes no significant disruptions to Kemira’s operations. Currencies are expected to have a negative impact on operative EBITDA.
| EUR million | 2017 | 2018 | 2019 | 2020 | 2021 outlook |
| Operative EBITDA | 311 | 323 | 410 | 435 | Expected to be at the same or at a slightly (less than 5%) lower level than in 2020 |