Water focused chemical industry group Kemira Oyj (OMX: KRA1V) had a stagnant first quarter of 2012. Revenues were down a notch to just above 550 million Euros whilst operational EBIT decreased 15% to 38.2 million with a typically weak bulk producer margin of 6.9% in comparison to corresponding period last year.
The company attributed the decline mainly to higher fixed costs. Earnings per share were down to 0.19 Euros as fair value of electricity derivates declined. When compared to Q4 2011, the development looks better and some price hikes have been made.
Kemira lowers its revenue and EBIT outlook. Both of them are now expected to be on par with 2011. Previously the company had been guiding for both to be slightly higher than last year. The company aims to accelerate efficiency measures to reach its target EBIT of 10%. It aims to focus more to Asia and South America. In the long term, Kemira envisions itself as the leading water chemistry company. The stock has slid 3% for the day.
No comments:
Post a Comment