Kemira Oyj
Stock Exchange Release
March 27, 2009 at 11.30 am (CET+1)
Reflecting the new strategy announced in June 2008, also Kemira’s business structure changed. Kemira began financial reporting according to the new structure from the beginning of 2009. The new reporting segments are Paper, Water, Oil & Mining, Tikkurila and Other. Segment comparatives for 2008 have been adjusted to match the new breakdown as shown in the table below. The figures are unaudited.
In the full year financial statements the 2008 figures were reported according to the earlier segment structure. The new segment structure will be implemented in the January-March interim report to be published on 6 May 2009.
The segment Other includes the ChemSolutions business, i.e. organic acids and salts, as well as corporate expenses not charged to the segments (some research and development costs, the costs of the CEO office).
|
Restated segment information for 2008
|
|
|
|
|
|
|
(The figures are unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EUR million
|
|
|
|
|
2008
|
|
|
1-3
|
4-6
|
7-9
|
10-12
|
Total
|
|
|
|
|
|
|
|
|
REVENUE
|
|
|
|
|
|
|
Paper external
|
243.5
|
234.7
|
263.0
|
246.4
|
987.6
|
|
Paper Intra-Group
|
4.2
|
6.4
|
4.7
|
0.4
|
15.7
|
|
Water external
|
135.8
|
143.7
|
155.9
|
146.8
|
582.2
|
|
Water Intra-Group
|
0.5
|
0.7
|
0.1
|
0.2
|
1.5
|
|
Oil & Mining external
|
67.0
|
66.7
|
73.6
|
66.0
|
273.3
|
|
Oil & Mining Intra-Group
|
0.5
|
0.1
|
0.9
|
0.6
|
2.1
|
|
Tikkurila external
|
145.2
|
205.7
|
193.7
|
103.5
|
648.1
|
|
Tikkurila Intra-Group
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
|
Other external
|
92.1
|
90.7
|
93.9
|
64.8
|
341.5
|
|
Other Intra-Group
|
24.7
|
21.1
|
10.4
|
17.1
|
73.3
|
|
Eliminations
|
-29.9
|
-28.3
|
-16.2
|
-18.2
|
-92.6
|
|
Total
|
683.6
|
741.5
|
780
|
627.6
|
2832.7
|
|
|
|
|
|
|
|
|
OPERATING PROFIT
|
|
|
|
|
|
|
Paper
|
12.4
|
7.6
|
10.9
|
-33.5
|
-2.6
|
|
Water
|
6.6
|
4.7
|
7.3
|
-13.3
|
5.3
|
|
Oil & Mining
|
3.8
|
2.4
|
3.4
|
-7.7
|
1.9
|
|
Tikkurila
|
11.7
|
29.7
|
30.4
|
-12.6
|
59.2
|
|
Other
|
-1.5
|
-4.9
|
17.5
|
-1.0
|
10.1
|
|
Eliminations
|
0.0
|
-0.2
|
0.3
|
0.0
|
0.1
|
|
Total
|
33
|
39.3
|
69.8
|
-68.1
|
74.0
|
|
|
|
|
|
|
|
|
Financial income and expenses, net
|
-11.2
|
-13.9
|
-20.7
|
-23.7
|
-69.5
|
|
Share of profit and loss of associates
|
0.1
|
0.2
|
-0.3
|
-2.7
|
-2.7
|
|
Profit before taxes
|
21.9
|
25.6
|
48.8
|
-94.5
|
1.8
|
|
Income tax
|
-5.9
|
-6.7
|
-13.4
|
26.0
|
0.0
|
|
Net profit for the period
|
16
|
18.9
|
35.4
|
-68.5
|
1.8
|
|
|
|
|
|
|
|
|
OPERATING PROFIT EXCLUDING NON-RECURRING ITEMS
|
|
|
|
|
|
|
Paper
|
12.4
|
7.6
|
11.7
|
9.8
|
41.5
|
|
Water
|
6.2
|
4.6
|
7.3
|
6.9
|
25.0
|
|
Oil & Mining
|
1.9
|
2.4
|
3.5
|
0.6
|
8.4
|
|
Tikkurila
|
11.7
|
29.7
|
30.4
|
-12.6
|
59.2
|
|
Other
|
-5.0
|
-6.9
|
3.3
|
7.0
|
-1.6
|
|
Eliminations
|
0.0
|
-0.2
|
0.3
|
0.0
|
0.1
|
|
Total
|
27.2
|
37.2
|
56.5
|
11.7
|
132.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CAPITAL EMPLOYED BY SEGMENTS
|
|
|
|
|
31.12.2008
|
|
Paper
|
|
|
|
|
813.8
|
|
Water
|
|
|
|
|
347.7
|
|
Oil & Mining
|
|
|
|
|
154.4
|
|
Tikkurila
|
|
|
|
|
288.4
|
|
Other
|
|
|
|
|
391.6
|
|
Eliminations
|
|
|
|
|
0.0
|
|
Total
|
|
|
|
|
1,995.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ASSETS BY SEGMENTS
|
|
|
|
|
|
|
Paper
|
|
|
|
|
977.1
|
|
Water
|
|
|
|
|
453.4
|
|
Oil & Mining
|
|
|
|
|
193.7
|
|
Tikkurila
|
|
|
|
|
365.5
|
|
Other
|
|
|
|
|
453.0
|
|
Eliminations
|
|
|
|
|
-19.9
|
|
Assets included in capital employed
|
|
|
|
|
2,422.8
|
|
|
|
|
|
|
|
|
Available-for-sale investments
|
|
|
|
|
159.8
|
|
Deferred tax assets
|
|
|
|
|
12.7
|
|
Other investments
|
|
|
|
|
11.5
|
|
Defined benefit pension receivables
|
|
|
|
|
54.0
|
|
Other assets
|
|
|
|
|
79.5
|
|
Money market investments – cash equivalents
|
|
|
|
|
87.1
|
|
Cash and cash equivalents
|
|
|
|
|
32.3
|
|
Total assets
|
|
|
|
|
2,859.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES BY SEGMENTS
|
|
|
|
|
|
|
Paper
|
|
|
|
|
163.3
|
|
Water
|
|
|
|
|
105.7
|
|
Oil & Mining
|
|
|
|
|
39.3
|
|
Tikkurila
|
|
|
|
|
77.1
|
|
Other
|
|
|
|
|
61.4
|
|
Eliminations
|
|
|
|
|
-19.9
|
|
Liabilities included in capital employed
|
|
|
|
|
426.9
|
|
Interest-bearing non-current liabilities
|
|
|
|
|
609.2
|
|
Interest-bearing current liabilities
|
|
|
|
|
559.3
|
|
Other liabilities
|
|
|
|
|
288.3
|
|
Total liabilities
|
|
|
|
|
1,883.7
|
|
|
|
|
|
|
|
Kemira Oyj
Päivi Antola, Senior Manager, IR and Financial Communications
For more information, please contact
Kemira Oyj
Päivi Antola, Senior Manager, IR and Financial Communications
Phone +358 (0)10 862 1140
Marjo Taajamaa, Vice President, Group Reporting & Business Control
Phone +358 (0)10 862 1549
Phone +358 (0)10 862 1549
Kemira is a focused company, best in water and fiber management chemistry.
In 2008, Kemira recorded revenue of approximately EUR 2.8 billion and had a staff of 9,400. Kemira operates in 40 countries.