Kemira’s profitability improved, but fell short of forecasts

Kemira, a Finnish chemicals company, reported that its profitability improved in the first quarter of 2023. However, the company’s operating profit still fell short of analysts’ forecasts.

Kemira’s operating profit increased by 10% year-over-year to EUR 143 million. This was below the consensus estimate of EUR 155 million. The company’s CEO, Jari Paasikivi, said that Kemira is facing headwinds from rising raw material costs and a slowdown in demand.

However, Paasikivi also said that Kemira is confident in its ability to weather these challenges and deliver on its full-year guidance. He said that the company is taking steps to mitigate the impact of rising costs, and that it is seeing signs of recovery in demand.

Overall, the results from Kemira’s first quarter are mixed. The company’s profitability improved, but it still fell short of expectations. The company is facing some challenges, but it is confident in its ability to overcome them.

Here are some additional details from the article:

Kemira’s sales in the first quarter increased by 12% year-over-year to EUR 2.1 billion.
The company’s adjusted EBITDA margin was 16.3% in the first quarter, compared to 15.4% in the same period last year.
Kemira’s CEO said that the company expects to see continued growth in the second quarter, but that the full-year outlook is still uncertain.