Financial statement announcement of Kemira group i

2022-07-30
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Kemira group's 2019 financial statement announcement

release date: Source: Kemira kemira

this is the summary of the 2019 financial statement announcement that causes periodic changes in the oil in the left and right chambers of the hydraulic cylinder

this draft is attached with a complete 2019 financial statement announcement and forms, which can be obtained from

the fourth quarter: the weak shale business and the start-up cost of new factories slowed down the performance growth.

due to the slight decline in sales, the operating revenue decreased by 1% to 657.7 million euros (6618 million euros). Operating income (in local currency) excluding acquisition and divestiture decreased by 2%

operating EBITDA increased by 7% to € 90.1 million (8450). Operating EBITDA margin increased to 13.7% (12.8%). The positive impact of the adoption of IFRS 16 accounting standards was € 9.2 million. EBITDA decreased by 14% to € 69.6 million (8130)

operating EBIT decreased by 5% to 42.4 million euros (4480). EBIT fell 47% to € 21.9 million (4110). The difference between the actual data and the reported figures can be explained by the items that affect the comparability. Most of them come from the current and earlier lawsuits related to the plant closure in 2013 that Fe-Cr-C series high chromium cast iron type surfacing welding wires are widely used in some wear-resistant equipment and products such as metallurgy, mining and building materials; The wear mechanism of hardfacing material is mainly caused by the use of primary carbides with high hardness in Fe-Cr-C hypereutectic structure as hard phase and wear-resistant phase, and the increase of environmental liability reserve

the cash flow from operating activities increased significantly to 142.5 million euros (0.882)

diluted EPS decreased by 72% to 0.05 euro (0.17), which was affected by the decline in EBIT

january December: strong profit and cash flow in 2019

due to the rise in sales prices and the positive impact of currency exchange rates, the operating revenue increased by 3% to 2658.8 million euros (25928 million euros). Except for acquisition and divestiture, the operating income (in local currency) is stable

operating EBITDA increased by 27% to EUR 410million (3231). In absolute terms, it increased by 86.9 million euros, of which 34.3 million euros were contributed by the adoption of IFRS accounting standards. Operating EBITDA margin increased to 15.4% (12.5%). EBITDA increased by 21% to 382.3 million euros (3148 million euros)

operating EBIT increased by 29% to 224million euros (1738 million euros). EBIT increased by 31% to 194.4 million euros (148.2 million euros). The difference between the actual data and the reported figures can be explained by items that affect comparability due to the current and earlier litigation provisions related to the plant closure in 2013 and the increase in the provision for environmental liabilities

cash flow from operating activities increased significantly to 386.2 million euros (2102 million euros)

diluted earnings per share increased by 23% to 0.72 euro (0.58), mainly driven by the increase in EBIT

2020 outlook

Kemira expects its operating EBITDA (2019: EUR 410million) to increase over the same period last year

Kemira president and CEO

jari rosendal:

"Although the fourth quarter was dragged down by the start-up costs related to new plants and the decline in the market demand for shale business, our strategy implementation continued to be successful in 2019. In the fourth quarter, with the continued expansion of the capacity of new plants in China and the Netherlands, we experienced additional costs and downtime. In the first quarter of 2020, it is expected that the production and operation will be more stable.

Kemira faced a market environment in this year Most of them remained positive, except for oil and natural gas. At the end of 2019, the North American shale market showed obvious weakness. Throughout 2019, we focused on active price management, which significantly improved the operating EBITDA. In 2019, the operating EBITDA margin reached 15.4%, which is in line with our financial target range of%

the active price management of pulp and paper business promotes the improvement of operating EBITDA margin in 2019. Our investment in the production capacity of AKD wax powder in China has been completed, and the actual operation has been steadily improved since the fourth quarter. We expect that this investment will start in the first quarter of 2020, and then gradually boost our EBITDA. At this time, the oil input will decrease and the profit will increase. In addition, we have expanded the capacity of sodium chlorate in the United States. It is expected that the capacity will be fully put into operation in the first quarter of 2020. After that, it will gradually contribute to our financial data

the industrial and water treatment businesses performed strongly in 2019, and the organic growth rate of operating revenue was 4%. In addition, our operating EBITDA margin increased to 16.9% due to the growth in the oil and gas sector and an active price management plan, coupled with a significant turnaround in the North American water treatment business. The operation of our expanded oil and gas polymer plant in the Netherlands also began to improve steadily in the fourth quarter of 2019. It is expected that this investment will gradually increase our EBITDA from the first quarter of 2020

we strive for continuous improvement to reduce the impact on the environment. In 2019, we reset our commitment to climate action and set a new goal, that is, to reduce our combined range 1 and range 2 emissions by 30% from the 2018 benchmark (930000 tons of carbon dioxide equivalent) by 2030. In addition, our long-term goal is to achieve carbon neutrality of the total emissions of range 1 and range 2 by 2045

we would like to thank all of Kemira's customers, employees, suppliers, shareholders and other business partners for their trust in us in 2019. We look forward to 2020 with confidence and expect that operating EBITDA will increase compared with 2019. Thanks to the company's good performance in 2019, strong cash flow and good business environment, the board of directors proposed to increase the dividend to € 0.56 per share. "

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