Kemira Oyj's Interim Report January-March 2016: Revenue and operative EBITDA growth continued
(Thomson Reuters ONE) -
Kemira Oyj
Stock Exchange Release
April 26, 2016 at 8.30 am (CET+1)
This is a summary of the January - March 2016 Interim report. The complete
January - March 2016 Interim report with tables is attached to this release and
available at www.kemira.com/investors.
* Revenue increased 5% to EUR 582.7 million (553.0) mainly due to the
acquisition of AkzoNobel's paper chemicals business. Revenue in local
currencies, excluding acquisitions and divestments, decreased 2%.
* Operative EBITDA increased 10% to EUR 72.8 million (66.4) with a margin of
12.5% (12.0%).
* Earnings per share were EUR 0.16 (0.16).
* Outlook (unchanged): Kemira continues to focus on profitable growth. Kemira
expects its revenue and operative EBITDA to increase in 2016 compared to
2015.
Kemira's President and CEO Jari Rosendal:
"The year started according to our expectations. The Pulp & Paper segment had a
strong first quarter with revenue growth and improvement in profitability. The
Municipal & Industrial segment maintained its volume growth, and the Oil &
Mining segment took actions to mitigate the challenging market environment while
maintaining focus on the long-term opportunities. In January-March the Group's
revenue increased 5% and operative EBITDA 10%, and resulted an improved EBITDA
margin of 12.5%.
In the Pulp & Paper segment, revenue in local currencies, excluding acquisitions
and divestments, increased 3%. We had a very good growth in APAC and South
America. The operative EBITDA margin of the segment improved for the fourth
consecutive quarter to 13%. Strong demand for pulp continues and therefore the
timing is excellent for the new sodium chlorate plant in Brazil, which
successfully started up in March 2016. In addition, we announced in March the
investment in the additional sodium chlorate capacity in Finland, which is
expected to be operational during the fourth quarter of 2017.
The Oil & Mining segment continued to face a challenging market in the U.S.
shale operations. However, the segment was able to improve its operative EBITDA
margin from 5% to 9% compared to the fourth quarter of 2015, which is a good
achievement in this market. We have taken actions to protect our existing
business and have maintained discipline in cost management. We continue to
invest in new applications and promising growth areas, such as Chemical Enhanced
Oil Recovery.
In the Municipal & Industrial segment, the volume growth continued at 3%, while
sales prices declined leading to a 1% revenue growth in local currencies,
excluding acquisitions and divestments. We are overcoming the temporary cost
increase in North America, which was due to the disruption caused by a closure
of a supplier's site in the fourth quarter of 2015. The operative EBITDA margin
improved sequentially and was almost 13%.
We continue to grow and focus on improved profitability through operational
improvements, leveraging growth, and capturing synergies. After the first
quarter, Kemira is on track to increase its revenue and operative EBITDA in
2016."
KEY FIGURES AND RATIOS
Jan-Mar Jan-Mar Jan-Dec
EUR million 2016 2015 2015
---------------------------------------------------------------
Revenue 582.7 553.0 2,373.1
---------------------------------------------------------------
Operative EBITDA 72.8 66.4 287.3
---------------------------------------------------------------
Operative EBITDA, % 12.5 12.0 12.1
---------------------------------------------------------------
EBITDA 71.1 65.2 263.8
---------------------------------------------------------------
EBITDA, % 12.2 11.8 11.1
---------------------------------------------------------------
Operative EBIT 40.9 39.1 163.1
---------------------------------------------------------------
Operative EBIT, % 7.0 7.1 6.9
---------------------------------------------------------------
EBIT 39.2 37.8 132.6
---------------------------------------------------------------
EBIT, % 6.7 6.8 5.6
---------------------------------------------------------------
Finance costs, net -6.0 -7.5 -30.8
---------------------------------------------------------------
Profit before taxes 33.3 30.5 102.1
---------------------------------------------------------------
Net profit for the period 25.7 26.4 77.2
---------------------------------------------------------------
Earnings per share, EUR 0.16 0.16 0.47
---------------------------------------------------------------
---------------------------------------------------------------
Capital employed* 1,697.8 1,466.2 1,659.5
---------------------------------------------------------------
Operative ROCE*, % 9.7 11.0 9.8
---------------------------------------------------------------
ROCE*, % 7.9 9.3 8.0
---------------------------------------------------------------
Cash flow from operating activities 26.2 42.4 247.6
---------------------------------------------------------------
Capital expenditure excl. acquisitions 31.4 27.0 181.7
---------------------------------------------------------------
Capital expenditure 29.5 27.0 305.1
---------------------------------------------------------------
Cash flow after investing activities -2.3 16.0 -53.8
---------------------------------------------------------------
Equity ratio, % at period-end 42 48 46
---------------------------------------------------------------
Equity per share, EUR 6.96 7.51 7.76
---------------------------------------------------------------
Gearing, % at period-end 60 49 54
---------------------------------------------------------------
---------------------------------------------------------------
Personnel at period-end 4,711 4,285 4,685
---------------------------------------------------------------
*12-month rolling average (ROCE, % based on the EBIT)
Definitions of key figures are available at www.kemira.com > Investors >
Financial information. Comparative 2015 figures are provided in parentheses for
some financial results, where appropriate. Operative EBITDA, operative EBIT and
operative ROCE do not include non-recurring items.
FINANCIAL TARGETS 2017 AND OUTLOOK for 2016 (unchanged)
Kemira will continue to focus on improving its profitability and cash flow. The
company will also continue to invest in order to secure future growth to serve
selected water-intensive industries.
The company's financial targets for 2017 are:
* Revenue EUR 2.7 billion
* Operative EBITDA-% of revenue 15%
* Gearing level <60%.
The basis for growth is the expanding market for chemicals and Kemira's
expertise that helps customers in water-intensive industries to increase their
water, energy and raw material efficiency. The need to increase operational
efficiency in our customer industries creates opportunities for Kemira to
develop new products and services for both current and new customers. Research
and Development is a critical enabler of growth for Kemira, providing
differentiation capabilities in its relevant markets.
Outlook for 2016
Kemira continues to focus on profitable growth. Kemira expects its revenue and
operative EBITDA to increase in 2016 compared to 2015.
Kemira expects its capital expenditure, excluding acquisitions, to be around EUR
200 million in 2016.
Helsinki, April 25, 2016
Kemira Oyj
Board of Directors
FINANCIAL CALENDAR 2016
Interim Report January-June 2016 July 21, 2016
Interim Report January-September 2016 October 25, 2016
Kemira Capital Markets Day will be held on September 15, 2016 in London at
Haberdashers' Hall.
Press and analyst conference and conference call
Kemira will arrange a press conference for analysts, investors and media
starting at 10.30 am (8.30 am UK time) at GLO Hotel Kluuvi, Kluuvikatu 4, 2nd
floor, Helsinki. In the conference, Kemira's President and CEO Jari Rosendal and
CFO Petri Castrén will present the results. The press conference will be held in
English and will be webcasted at www.kemira.com/investors. The presentation
material and the webcast recording will be available on the above mentioned
company website.
You can attend the Q&A session via a conference call. In order to participate in
the call, please dial ten minutes before the conference begins:
FI: +358 9 6937 9543
SE: +46 8 5065 3937
UK: +44 20 3427 1904
US: +1 646 254 3364
Conference id: 4596227
For more information, please contact:
Kemira Oyj
Olli Turunen, Vice President, Investor Relations
Tel. +358 10 862 1255
Kemira is a global chemicals company serving customers in water-intensive
industries. We provide expertise, application know-how and chemicals that
improve our customers' water, energy and raw material efficiency. Our focus is
on pulp & paper, oil & gas, mining and water treatment. In 2015, Kemira had
annual revenue of EUR 2.4 billion and around 4,700 employees. Kemira shares are
listed on the Nasdaq Helsinki Ltd.
www.kemira.com
Kemira Q1 2016 Interim Report:
http://hugin.info/3008/R/2006527/741392.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Kemira Oyj via GlobeNewswire
[HUG#2006527]
Unternehmensinformation / Kurzprofil:
Datum: 26.04.2016 - 07:30 Uhr
Sprache: Deutsch
News-ID 466296
Anzahl Zeichen: 11513
contact information:
Town:
Helsinki
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 317 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Kemira Oyj's Interim Report January-March 2016: Revenue and operative EBITDA growth continued"
steht unter der journalistisch-redaktionellen Verantwortung von
Kemira Oyj (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
