Kemira’s financial targets and outlook for 2024
Financial targets and historical figures
Kemira updated its long-term financial targets on September 25, 2024 to reflect profitable growth ambitions and structurally higher margin profile. Read more here.
| Targets | 2021 | 2022 | 2023 |
| Average annual organic growth over 4% | +19% | +27% | -2% |
| Operative EBITDA* 18–21% | 15.9% | 16.5% | 20.6% |
| Operative ROCE* over 16% | 11.3% | 16.2% | 22.4% |
*The figures for 2021 include the Oil and Gas business. The figures for operative EBITDA for the years 2022 and 2023 and the figure for operative ROCE for 2023 have been adjusted figures after the divestment.
Read more: Debt Information
Outlook for 2024 (unchanged, as of October 25, 2024)
Revenue:
Kemira’s revenue is expected to be between EUR 2,800 million and EUR 3,200 million in 2024 (reported 2023 revenue: EUR 3,383.7 million).
Operative EBITDA:
Kemira’s operative EBITDA is expected to be between EUR 540 and EUR 640 million in 2024 (reported 2023 operative EBITDA: EUR 666.7 million).
Assumptions behind outlook (updated):
Kemira’s end-market demand (in volumes) is expected to grow in 2024 following expected gradual demand recovery in the pulp and paper market. The water treatment market is also expected to grow in 2024. Input costs are expected to remain rather stable during the year. The outlook assumes no major disruptions to Kemira’s manufacturing operations, supply chain or Kemira’s energy-generating assets in Finland. Foreign exchange rates are expected to remain at approximately current levels. The outlook for 2024 includes the Oil & Gas business until February 2, 2024, the closing date of the divestment transaction.
Previous outlook for 2024 (until June 10, 2024)
Revenue:
Kemira’s revenue is expected to be between EUR 2,700 million and EUR 3,200 million in 2024 (reported 2023 revenue: EUR 3,383.7 million).
Operative EBITDA:
Kemira’s operative EBITDA is expected to be between EUR 480 and EUR 580 million in 2024 (reported 2023 operative EBITDA: EUR 666.7 million).
Assumptions behind outlook (specified):
Kemira’s end-market demand (in volumes) is expected to grow slightly in 2024 following expected gradual demand recovery in the pulp and paper market. The water treatment market is expected to remain steady in 2024. Input costs are expected to remain rather stable during the year. The outlook assumes no major disruptions to Kemira’s manufacturing operations, supply chain or Kemira’s energy-generating assets in Finland. There is uncertainty related to the political strikes in Finland and their implications on Kemira’s customers and Kemira. Foreign exchange rates are expected to remain at approximately current levels. The outlook for 2024 includes the Oil & Gas business until February 2, 2024, the closing date of the divestment transaction.
The outlook for 2024 includes the Oil & Gas business until February 2, 2024, the closing date of the divestment transaction.
| EUR million | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 outlook |
| Operative EBITDA | 410 | 435 | 426 | 572 | 667 | Expected to be between EUR 540 – EUR 640 million |