Kemira Oyj organic revenue grows 3% in 2013

08 Feb '14

3 min read

Kemira Oyj summary of the Financial Statements Bulletin of 2013.

Fourth quarter:

Major steps in strategic redesign accomplished. Organic growth and profitability improvement continues in the Paper segment

-ŸOrganic revenue growth was 1% in local currencies. Reported revenue decreased 2% to EUR 545.2 million (558.5), due to unfavorable currency exchange rates.

-Operative EBIT was EUR 34.5 million (34.1) with a margin of 6.3% (6.1%).

-Divestment of coagulant business in Brazil closed and divestment of formic acid business as well as Danish distribution business signed.

-The reported earnings per share were reduced to EUR -0.33 (-0.27) largely due to non-recurring items of EUR 76.5 million (61.1).

Full year: Sales volume growth and improved profitability, EUR 0.53 dividend proposed

-Organic revenue growth was 3% in local currencies. Reported revenue was EUR 2,229 million (2,241).

-ŸOperative EBIT increased 6% to EUR 164.2 million (155.5) with a margin of 7.4% (6.9%).

-ŸEarnings per share, excluding non-recurring items decreased to EUR 0.70 (0.77) mainly due to the lower income from the associated companies.

-ŸReported earnings per share were reduced to EUR -0.21 (0.12) mainly due to a write-down of EUR 23 million related to the divestment of the shares of Kemira's JV

Sachtleben, lower income from associated companies and higher taxes.

-ŸThe Board of Directors proposes a cash dividend of EUR 0.53 per share (0.53) to the

Annual General Meeting 2014, totaling EUR 81 million (81), equivalent to 76% (69%) of the operative net profit.

-ŸIn 2014, Kemira expects the revenue in local currencies, excluding acquisitions and divestments to be slightly higher than in 2013 and the operative EBIT to be higher than in 2013.

Kemira's President and CEO Wolfgang Büchele:

"Kemira's organic revenue and operative EBIT increased slightly in the fourth quarter. Of the two growth focused segments, Paper with more than 10% organic revenue growth was able to improve its operative EBIT by more than 20%.

By showing only modest 3% of organic growth at a disappointing profitability, Oil & Mining has not met our expectations. Thus, we have taken steps to bring Oil & Mining business back to its strategic path.

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