• Fri. Mar 1st, 2024

Kemira’s Record High Profitability Despite Lower Sales and Oil & Gas Business Sale: 2020 Dividend Announcement

ByEditor

Feb 11, 2024
Kemira’s year-end pace slowed due to decrease in chemical prices – Economy

Kemira, a chemical company based in Finland, has announced a dividend of EUR 0.68 per share for its shareholders. Despite reporting a decrease in net sales during October-December, the company’s operating profit increased by 17% to 667 million euros for the year. The decrease in net sales was attributed to lower sales prices of energy-intensive pulp and bleaching chemicals. However, the sale of the Oil & Gas business resulted in a loss that shrank the actual operating profit to just under 113 million euros. Kemira’s turnover for the entire year fell to 3.38 billion euros, but the company’s profitability was at a record high last year with an operating EBITDA increase of 17%.

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