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Kemira Oyj lowers its operative EBIT guidance for the fourth quarter of 2013

January 22/2014

MOSCOW (MRC) -- Kemira Oyj has lowered its operative EBIT guidance for the fourth quarter of 2013. Kemira's operative EBIT (excluding non-recurring items) was previously expected to be between EUR 42-50 million in the fourth quarter of 2013, said the producer in its press release.

Kemira's updated guidance now indicates that operative EBIT is expected to be between EUR 34-35 million in the fourth quarter of 2013. Main reasons for the lowered operative EBIT guidance for the fourth quarter of 2013 are as follows.

Lower-than-expected contribution from 3F. Kemira closed the acquisition and started consolidation of 3F on October 1, 2013. 

Higher-than-expected fixed and inventory related costs, especially in the South America region.

Increased pension fund related accruals and other pension costs in the EMEA region, mainly due to the ongoing relocation of certain business units.

Revenue guidance for 2013 remains as previously communicated. Kemira expects revenue in local currencies, excluding divestments to be slightly higher than in 2012.

Kemira will publish its Financial Statements Bulletin 2013 on February 7, 2014.

As MRC wrote before, Kemira signed an agreement to sell its distribution of hydrochloric acid, sulfuric acid and sodium hydroxide (caustic soda) in Denmark to Brenntag Group. The deal includes the distribution business and certain assets in Copenhagen. Revenue of the divested business in 2012 was approximately EUR 15 million and the transaction is expected to be completed during the first quarter of 2014.

Kemira is a global chemicals company serving customers in water-intensive industries. We provide expertise and chemicals that improve our customers' water, energy and raw material efficiency. In 2012, Kemira had annual revenue of EUR 2.2 billion and around 4,900 employees.


mrcplast.com
Author:Anna Larionova
Tags:liquid caustic soda, rigid caustic soda, min.udobreniya, fertilizers, Kemira.
Category:General News
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