Financial targets

Kemira’s financial targets and outlook for 2022

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 2018 2019 2020 2021
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%

Operative EBITDA
12.5% 15.4% 17.9% 15.9%
Gearing below 75% 62% 66% 63% 63%

Read more: Debt Information

Outlook for 2022

Kemira’s revenue in local currencies, excluding acquisitions and divestments, is expected to increase from 2021 (EUR 2,674.4 million).

Operative EBITDA
Kemira’s operative EBITDA is expected to be within a +/- 5% range of the operative EBITDA in 2021 (EUR 425.5 million).

Assumptions behind outlook
There continues to be uncertainty related to COVID-19 and the inflationary environment. However, Kemira’s end-market demand in both segments is expected to grow following forecasted global economic growth. The outlook assumes the COVID-19 pandemic situation to remain under control and not having a significant impact on Kemira’s end-market demand. The outlook also assumes no major disruptions to Kemira’s manufacturing operations or further significant supply chain disruptions. Strong inflationary pressures are expected to continue, particularly in H1 2022.


EUR million 2018 2019  2020 2021 2022 outlook
Operative EBITDA 323 410 435 426 Expected to be within a +/- 5% range of the operative EBITDA in 2021 (EUR 425.5 million).