February 23, 2024 1:10 am
Kemira’s year-end pace slowed due to decrease in chemical prices – Economy

Kemira, a leading industrial chemical company, has announced a dividend of EUR 0.68 per share for its shareholders. Despite experiencing a decline in net sales in October-December, Kemira’s operating profit increased by 17% to reach EUR 667 million euros for the year. The decrease in net sales was attributed to lower sales prices of energy-intensive pulp and bleaching chemicals during this time period.

In October-December, Kemira’s net sales decreased from 969 million euros to approximately 809 million euros. This was largely due to lower sales prices of energy-intensive pulp and bleaching chemicals, which negatively impacted the company’s revenue during this period. Despite this setback, Kemira’s operating profit decreased by just 9% to just under 113 million euros. However, the loss related to the sale of the Oil & Gas business shrank the actual operating profit to 1.3 million euros.

Despite these challenges, Kemira reported that its profitability was at a record high last year. The company’s turnover for the entire year fell to 3.38 billion euros and the operating profit increased to 463 million euros. To reward its shareholders for their continued support, Kemira has proposed a dividend of EUR 0.68 per share for its shareholders.

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