6/10/2024 - Stock exchange release

Inside information, positive profit warning: Kemira upgrades its outlook for 2024

Kemira Oyj, Stock Exchange Release, June 10, 2024 at 9.00 am (EEST)

Inside information, positive profit warning: Kemira upgrades its outlook for 2024

Kemira upgrades its outlook for 2024, particularly for operative EBITDA. Kemira’s end-markets have continued to recover, and Kemira’s strong performance in both segments has continued.

Kemira now expects the revenue to be between EUR 2,800 and 3,200 million, and the operative EBITDA to be between EUR 540 and 640 million in 2024. Earlier, Kemira expected the revenue to be between EUR 2,700 and EUR 3,200 million, and the operative EBITDA to be between EUR 480 and EUR 580 million. The assumptions behind Kemira’s outlook have also been updated.

Kemira’s upgraded outlook for 2024
Revenue: Kemira's revenue is expected to be between EUR 2,800 million and EUR 3,200 million in 2024 (reported 2023 revenue: EUR 3,383.7 million).
Operative EBITDA: Kemira's operative EBITDA is expected to be between EUR 540 and EUR 640 million in 2024 (reported 2023 operative EBITDA: EUR 666.7 million).

Assumptions behind outlook (updated)                   
Kemira’s end-market demand (in volumes) is expected to grow in 2024 following expected gradual demand recovery in the pulp and paper market. The water treatment market is also expected to grow in 2024. Input costs are expected to remain rather stable during the year. 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 for 2024 includes the Oil & Gas business until February 2, 2024, the closing date of the divestment transaction.

Kemira’s previous outlook for 2024 (published on April 26, 2024)
Revenue: Kemira's revenue is expected to be between EUR 2,700 million and EUR 3,200 million in 2024 (reported 2023 revenue: EUR 3,383.7 million).
Operative EBITDA: Kemira's operative EBITDA is expected to be between EUR 480 and EUR 580 million in 2024 (reported 2023 operative EBITDA: EUR 666.7 million).

Previous assumptions behind outlook
Kemira’s end-market demand (in volumes) is expected to grow slightly in 2024 following expected gradual demand recovery in the pulp and paper market. The water treatment market is expected to remain steady in 2024. Input costs are expected to remain rather stable during the year. The outlook assumes no major disruptions to Kemira’s manufacturing operations, supply chain or Kemira’s energy-generating assets in Finland. There is uncertainty related to the political strikes in Finland and their implications on Kemira’s customers and Kemira. Foreign exchange rates are expected to remain at approximately current levels. The outlook for 2024 includes the Oil & Gas business until February 2, 2024, the closing date of the divestment transaction.

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. Our customers include industrial and municipal water treatment operators, and pulp & paper industry among others. We provide the best-suited products and services to improve our customers’ product quality, process, and resource efficiency. Our focus is on water treatment, renewable solutions, and digital services. In 2023, Kemira had annual revenue of around EUR 3.4 billion and around 5,000 employees. Kemira shares are listed on the Nasdaq Helsinki Ltd. www.kemira.com

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