Kemira Oyj Posts Strong Earnings Per Share in 2011
HELSINKI, Finland - Kemira Oyj has posted results for the fourth quarter of 2011, reporting revenue of EUR 543.3 million, compared to EUR 546.6 in 2010. Operative EBIT decreased 15 percent to EUR 34.3 million from EUR 40.2 million posted in 2010, with a margin of 6.3 percent. Profit before tax increased 62 percent to EUR 37.0 million, compared to EUR 22.9 million in 2010.
For the full year, the company posted a revenue increase of 2 percent to EUR 2,207.2 million, compared to EUR 2,160 million in 2010. Operative EBIT decreased 3 percent to EUR 157.3 million, compared to EUR 162.3 million in 2010, with a margin of 7.1 percent. Earnings per share from continuing operations increased 22 percent to EUR 0.89, and cash flow from operating activities increased 34 percent to EUR 177.7 million, compared to EUR 133.1 million in 2010.
The Board of Directors proposed a cash dividend of EUR 0.53 per share, totaling EUR 81 million or about 60 percent of the operative net profit.
In 2012, Kemira expects revenue and operative EBIT to be slightly higher than in 2011. President and CEO Harri Kerminen commented, “In the near term, uncertainty in Europe and a slowdown in global economic growth may affect the demand for our products in the customer industries. In 2012, Kemira expects the revenue and operative EBIT to be slightly higher than in 2011.”