10/10/2023 - Stock exchange release

Inside information, positive profit warning: Kemira upgrades its 2023 outlook for operative EBITDA

Kemira Oyj, Inside Information, October 10, 2023 at 7.00 pm (EEST)

Inside information, positive profit warning: Kemira upgrades its 2023 outlook for operative EBITDA

Kemira upgrades its 2023 outlook for operative EBITDA. Kemira’s end-markets have developed in line with expectations while profitability development has been better than expected following successful variable cost management.

Kemira now expects the operative EBITDA to be between EUR 620 and 680 million in 2023 (2022: EUR 571.6 million). Kemira’s outlook for revenue is unchanged. The assumptions behind Kemira’s outlook also remain unchanged.

Kemira’s upgraded outlook for 2023

Revenue: Kemira’s revenue is expected to be between EUR 3,200 million 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 620 and EUR 680 million in 2023 (2022: EUR 571.6 million).

Assumptions behind outlook (unchanged)

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.

Kemira’s previous outlook for 2023 (published July 18, 2023)

Revenue: Kemira’s revenue is expected to be between EUR 3,200 million 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).

Kemira observes a silent period prior to the release of its financial results. Kemira is now in its silent period, which will continue until the publication of Kemira’s Q3 2023 results on Tuesday October 24, 2023.

For more information, please contact:

Kemira Oyj

Mikko Pohjala, Vice President, Investor Relations
Tel. +358 40 838 0709
mikko.pohjala@kemira.com

 

Kemira is a global leader in sustainable chemical solutions for water-intensive industries. We provide the best-suited products and services to improve our customers’ product quality, process, and resource efficiency. Our focus is on pulp & paper, water treatment, and energy sectors. In 2022, Kemira had annual revenue of around EUR 3.6 billion and around 5,000 employees. Kemira shares are listed on the Nasdaq Helsinki Ltd. www.kemira.com