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Kemira adjusts 2020 financial targets

November 20/2020

MOSCOW (MRC) -- Kemira says its board has approved updated financial targets for 2020. The company is now targeting an operative EBITDA margin of 15-18% instead of 15-17%, according to Chemweek.
 
The other financial targets remain unchanged. Kemira is aiming for growth above market rates and a debt/equity ratio below 75%.

The company confirmed in October its revised 2020 outlook as part of the announcement of its third-quarter results.

As MRC informed earlier, Kemira has signed a multi year extension of its polymer supply agreement with Ithaca Energy. Kemira says it has signed a multiyear extension to its polymer supply agreement with Ithaca Energy (Aberdeen, UK). The agreement extends the contract between the two companies, signed in 2018, covering the supply of polymers to enhance oil extraction performance at one of the assets operated by Ithaca Energy in the UK North Sea.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).

According to MRC"s ScanPlast report, Russia's estimated PE consumption totalled 1,594,510 tonnes in the first nine months of 2020, up by 1% year on year. Only high denstiy polyethylene (HDPE) shipments increased. At the same time, PP shipments to the Russian market reached 880,130 tonnes in the nine months of 2020 (calculated using the formula: production minus exports plus imports, exluding producers' inventories as of 1 January, 2020). Supply increased exclusively of PP random copolymer.


mrcplast.com
Author:Margaret Volkova
Tags:PP, PE, PP random copolymer, propylene, HDPE, ethylene, petrochemistry, Kemira, UK, Russia.
Category:General News
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