Kemira Pulp&Paper - business slows in 2008

The Kemira pulp and paper chemicals business slowed towards the end of the year, but the results were not as bad as expected.  

Revenue in the last quarter of 2008 increased by 2% (EUR 258.3 million) and by 1.4% for the whole year (EUR1,057.7).  

There was a decrease in operating profit as a result of lower sales volumes and higher raw material, freight and energy costs - not to mention the 'one-off' cost of their cost-savings programme!  The operating profit (excluding non-recurring items) in the last quarter of 2008 decreased to EUR9.4 million from EUR12.3 million in the same period of 2007.  For the year, profit decreased to EUR50.4 million (4.8% of sales) from EUR79.8 (7.7% of sales) in 2007.

The full results and details are available on Kemira's web site.