Kemira first-half results - tough times for pulp and paper chemicals
Kemira announced their first-half, 2008 results today - these are clearly troubled times for the paper chemicals giant, but they are not alone. Highlights for the Pulp and Paper business are (1H08):
- First-half sales of EUR 517.5 mio (down from 529.7 mio in 2007) - Kemira point to mill closures in Europe and North America for loss of sales with some effect of unfavourable currency exchange rates
- Operating profit 5% of sales (down from 8.7% in 2007) - Unable to increase sales prices sufficiently and compensate for the cost hikes - especially higher oil and energy-related costs
- There was an impact on cash-flow from the EU fine for operating a chlorate cartel (see earlier blog)
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