Kemira Oyj · OMXHEX:KEMIRA
Kemira Oyj — Q1 2025 Earnings Presentation
85 slides from Kemira Oyj's earnings presentation, Apr 25, 2025
Slide 1: Kemira Investor Presentation
APRIL 25, 2025 Kemira Investor Presentation Chemistry with a purpose. Better every day. INVESTOR PRESENTATION
Slide 2: Content
INVESTOR PRESENTATION Content 1. Kemira in brief 2. Investment highlights 3. Kemira as a sustainable investment 4. Water Solutions 5. Fiber businesses 6. Recent progress 7. Appendix APRIL 25, 2025 INVESTOR PRESENTATION 2
Slide 3: Kemira in brief
INVESTOR PRESENTATION Kemira in brief APRIL 25, 2025 INVESTOR PRESENTATION 3
Slide 4: Kemira in brief
Kemira in brief LTM EXCL. OIL & GAS: REVENUE EUR 2,894 MILLION, OPERATIVE EBITDA EUR 558 MILLION, OPERATIVE EBITDA MARGIN 19.3%, OPERATIVE ROCE 19.1% BUSINESS UNITS GEOGRAPHIES PRODUCTS 20% 10% 15% Other: 45% APAC Fiber Essentials e.g. defoamers, 25% Bleaching Water 35% 1. China dispersants,
Slide 5: Kemira in your everyday
Kemira in your everyday COAGULANTS POLYMERS SIZING AND BLEACHING STRENGTH 30% 15% 15% 25% Important specialty chemical in Main water treatment chemical, Important water treatment pulp & paper, used to improve Critical product in pulp & paper, used to coagulate impurities in chemical, used to separat
Slide 6: Global reach – local excellence
Global reach – local excellence 58 MANUFACTURING SITES KEMIRA HQ Helsinki, Finland R&D Regional HQ Espoo, Finland Atlanta, USA Regional HQ Shanghai, China R&D Atlanta, USA R&D Shanghai, China EMEA 43% ASIA PACIFIC 20% 2,517 AMERICAS 37% 939 UNITS IN AROUND 40 COUNTRIES 1,242 SALES IN OVER 100+ COUNT
Slide 7: Water Solutions
Water Solutions REVENUE AND OPERATIVE EBITDA REVENUE BY APPLICATION REVENUE BY EUR million TYPE AND MARKET GROWTH PRODUCT CATEGORY 1,800 336 1,600 282 279 50% 25% 25% 15% 60% 1,400 224 Industrial Urban Urban Other Coagulants 1,200 1,000 175 181 Americas** EMEA** products 800 1,542 1,636 su
Slide 8: Packaging & Hygiene Solutions
Packaging & Hygiene Solutions REVENUE AND OPERATIVE EBITDA REVENUE BY CUSTOMER REVENUE BY EUR million, TYPE AND MARKET GROWTH PRODUCT CATEGORY historical figures for the new business unit 1% Other 55% 25% 10% 5% 30 31 36 28 31 5% 300 31 Packaging & Printing &Tissue Pulp 41 42 30 Coagulan
Slide 9: Fiber Essentials
Fiber Essentials REVENUE AND OPERATIVE EBITDA REVENUE BY CUSTOMER REVENUE BY EUR million, TYPE AND MARKET GROWTH PRODUCT CATEGORY historical figures for the new business unit 80 100% 15% 250 Pulp Others 200 35 47 46 48 150 38 32 41 40 15% Caustic 55% 222 100 Soda Sodium Chlorate 153 148 154
Slide 10: Superior transformation into a water-focused company
Superior transformation into a water- focused company 2023 Strategic review of the Oil & Gas 1950 1961 1972 1985-1992 1994 2008 2015 business initiated Development of Name changed The “Kemira” Expansion Kemira is listed on Water chemistry Acquisition of 2025 first chemicals for to Rikkihappo Oy name
Slide 11: We are well-positioned for profitable growth
WE ARE WELL-POSITIONED FOR PROFITABLE GROWTH We are We have We will execute accelerating structurally faster through growth – driven stronger the new Kemira by water and margins organization sustainability APRIL 25, 2025 INVESTOR PRESENTATION 11
Slide 12: Several actions taken to accelerate growth in recent years
Several actions taken to accelerate growth in recent years • Acquisition of SimAnalytics, a digital start-up • Initial plans to build a re-activation • Coagulant capacity expansion in the UK plant for activated carbon in Sweden announced • Expanded renewables partnership with IFF 2022 2024 2023 • Ne
Slide 13: Driving shareholder value through accelerated profitable growth
Driving shareholder value through accelerated profitable growth LONG-TERM FINANCIAL TARGETS WE ARE ACCELERATING GROWTH AVERAGE – DRIVEN BY WATER AND SUSTAINABILITY ANNUAL ORGANIC GROWTH >4% WE HAVE STRUCTURALLY STRONGER MARGINS OPERATIVE EBITDA 18-21% WE WILL EXECUTE FASTER THROUGH THE NEW KEMIRA OR
Slide 14: New business units have different financial profiles
New business units have different financial profiles BUSINESS WATER PACKAGING & FIBER UNIT SOLUTIONS HYGIENE SOLUTIONS ESSENTIALS % of total sales* ~40% ~35% ~25% Cyclicality Low Medium Medium Pricing structure Majority fixed pricing Majority fixed pricing Majority formula-based Capital intensity Lo
Slide 15: New business units have different mandates
New business units have different mandates BUSINESS UNIT WATER PACKAGING & FIBER SOLUTIONS HYGIENE SOLUTIONS ESSENTIALS % of total sales* ~40% ~35% ~25% Mandate in the Growth + Growth + Cash flow + Kemira portfolio cash flow transformation selective growth Growth profile Sustainability rele
Slide 16: Investment highlights
INVESTOR PRESENTATION Investment highlights APRIL 25, 2025 INVESTOR PRESENTATION 16
Slide 17: Why invest in Kemira
Why invest in Kemira ATTRACTIVE BUSINESS SUSTAINABILITY AS A STRONG FINANCIAL PROFILE MODEL GROWTH DRIVER Record-strong balance sheet Resilient business model Increasing environmental and social supports the growth strategy combined with strong market awareness is a significant growth • Net debt / o
Slide 18: Global megatrends largely favor Kemira
Global megatrends largely favor Kemira – sustainability becoming a key driver for the long term CHANGING GROWING DEMOGRAPHICS ENVIRONMENTAL AWARENESS Growing Changing More efficient use Focus on Tightening Climate change middle-class lifestyles with of scarce natural renewable and environmental miti
Slide 19: Healthy market growth for Kemira's relevant markets
Healthy market growth for Kemira’s relevant markets WATER SOLUTIONS RELEVANT MARKET EUR billion KEMIRA RELEVANT MARKET 3-5% 18.4 EUR billion 14.3 Accelerated growth focus 2-3% 30.5 Kemira’s current main markets 2024 2030 25.4 PACKAGING AND HYGIENE SOLUTIONS RELEVANT MARKET EUR billion APAC 1-2% 6.7
Slide 20: We have delivered on multiple fronts
We have delivered on multiple fronts IMPROVED FINANCIALS REDUCED EMISSIONS* EUR MILLION % KT CO 2 E 19.7 19.9 700 667 20 6 000 17.9 572 5 321 600 16.0 585 15.9 5 000 15 4 267 4 108 500 435 426 4 000 3 502 400 3 134 10 3 000 300 2 000 200 5 1.7 2.0 1.3 0.8 0.5 1 000 100 0 0 0 2020 2021 2022 2023 2024
Slide 21: Strategy focuses on profitable growth
Strategy focuses on profitable growth EXPAND IN WATER BUILD LEADING RENEWABLE UNLOCK NEW SOLUTIONS PORTFOLIO GROWTH PLATFORMS Significantly grow our water Enable sustainability transformation in our Increase penetration into selected business by expanding to additional existing markets and leverage
Slide 22: We will grow through organic and inorganic opportunities
We will grow through organic and inorganic opportunities – particularly in water ILLUSTRATIVE EXAMPLE INORGANIC GROWTH OPPORTUNITIES STRONG APPETITE FOR M&A; ORGANIC GROWTH OPPORTUNITIES DISCIPLINED IN VALUATIONS FINANCIAL TARGET Key focus areas FOR AVERAGE ~4 B€ Water ANNUAL ORGANIC ~2.9 B€ GROWTH
Slide 23: Four paths to reach the EUR 500 million renewable revenue target
We have four paths to reach the EUR 500 million renewable revenue target CURRENT Boost the sales of commercially PORTFOLIO available renewable products Convert current fossil-based products to renewable PRODUCT products by replacing raw materials CONVERSION and feedstocks New products based on NEW R
Slide 24: Kemira as a sustainable investment
INVESTOR PRESENTATION Kemira as a sustainable investment APRIL 25, 2025 INVESTOR PRESENTATION 24
Slide 25: Sustainability – key figures
SUSTAINABILITY – KEY FIGURES Value chain transformation is driven through a lower footprint, reducing negative impacts. In brackets the change from 2023 to 2024 72% 52% -34,5% -19,5% (+1%) (+5%) (-1,5%) (new target) OF GLOBAL ENERGY OF USED RAW MATERIALS OF SCOPE 1&2 EMISSIONS OF SCOPE 3 EMISSIONS P
Slide 26: Sustainability – key figures
SUSTAINABILITY – KEY FIGURES Business transformation is driven through growing the handprint and helping customers solve their sustainability challenges. In brackets the change from 2023 to 2024 240M€ 58% 21Bm3 (+14M€) (-1%) (+1Bm³) OF PRODUCTS IMPROVE IN SALES FROM WATER TREATED WITH THE HELP OF KE
Slide 27: 58% of revenue from products that improve customer resource efficiency
58% of revenue generated from products that improve customer resource efficiency WATER BUSINESS FIBER BUSINESSES Urban and industrial Kemira’s products improve the manufacturing process water treatment: and enable better resource-efficiency. Chemical water treatment provides the most compact For exa
Slide 28: We use significant amounts of recycled raw materials
We use significant amounts of recycled raw materials Already 52% up to of current raw materials 70-80% from recycled & renewable of raw materials from sources recycled sources in coagulants APRIL 25, 2025 INVESTOR PRESENTATION 28
Slide 29: Significant number of renewable products in our portfolio
We already have a significant number of renewable products in our portfolio REVENUE SPLIT IN 2024* CURRENT RENEWABLE PORTFOLIO Renewable (> 50%) Sizing Partly Renewable (20-50%) • The majority of our current renewable offering Renewable polymers Does not • Biomass-balanced polymers both for water co
Slide 30: Strong commitment to sustainability
Strong commitment to sustainability Five sustainability KPIS SAFETY TRIF* 2.2 by the end of 2025 and 1.5 by the end of 2030 CLIMATE WATER PEOPLE Reach top 10% cross industry norm for Glint Inclusion index by the end of 2025 CIRCULARITY Reduce waste intensity** by 15% by the end Chemical of 2030 from
Slide 31: SBTi has validated Kemira's science-based emission targets
SETTING THE STANDARD WITH A FRONTRUNNER CLIMATE TARGET The SBTi has validated SCOPE 1&2 TARGET Kemira’s science-based SCOPE 3 TARGET ~52% reduction ~33% reduction greenhouse gas emission by the end of 2030, by the end of 2033, reduction targets base year 2018 base year 2021 Kemira is a true frontrun
Slide 32: Sustainability performance in 2024
Sustainability performance in 2024 SDG KEY FIGURE UNIT 2024 SAFETY TRIF* 2.2 by the end of 2025 and 1.5 by the end of 2030 3.2 *TRIF = total recordable injury frequency per million hours, Kemira + contractors PEOPLE Reach top 10% cross industry norm for Diversity & Slightly Inclusion by the end of 2
Slide 33: Sustainability performance in Q1 2025
Sustainability performance in Q1 2025 SAFETY TRIF* in Q1 2025 improved to 1.6 (Q1/2024: 4.5) and less lost time incidents were reported during the quarter (LTIF 0.9 vs. 2.1). The improvements result from the comprehensive safety training program conducted during the previous year. PEOPLE Kemira's ta
Slide 34: Water Solutions
INVESTOR PRESENTATION Water Solutions Ambition to double the revenue in water APRIL 25, 2025 INVESTOR PRESENTATION 34
Slide 35: Our water business is in excellent shape
Our water business is in excellent shape STRONG FINANCIAL PERFORMANCE WE HAVE AN EFFICIENT OPERATING PLATFORM IN RECENT YEARS EUR million % • Strong value proposition to customers: application +5.3% know-how, product quality and supply security 350 336 24 23.2% 282 • Strong and typically long custom
Slide 36: Water Solutions value chain
Water Solutions TECHNOLOGY AND MARKET LEADER IN WATER TREATMENT AS WELL AS IN NICHE APPLICATIONS IN OIL & GAS RAW INTERMEDIATES PRODUCTS APPLICATIONS SALES CHANNELS CUSTOMERS MATERIALS Acrylonitrile Acrylamide Polymers Raw water & waste Direct sales Municipalities (EPAM, DPAM) water treatment Acryli
Slide 37: Our solutions improve our customers' footprint
MORE PHOSPHORUS REMOVAL WITH LOWER CARBON CHEMICAL FOOTPRINT WITH PHOSPHORUS CHEMICAL TREATMENT REMOVAL Up to Min Our solutions 90% 30% play a significant Coagulation enables better removal of phosphorus from With pre-precipitation at wastewater treatment plants role in improving wastewater discharg
Slide 38: Trends in water treatment provide opportunities for sustainable growth
Trends in water treatment provide solid opportunities for sustainable growth RELEVANT WATER TREATMENT RELEVANT MARKET TREND PRODUCTS & SOLUTIONS AND EXPECTED GROWTH MARKET CAGR EUR billion Energy efficiency in water 8-9% treatment processes CAGR 4-5% 18.4 5-6% Micropollutants removal 14.3 Accelerate
Slide 39: Micropollutant removal is an attractive growth opportunity
Micropollutant removal is an increasingly attractive and synergistic growth opportunity MARKET DESCRIPTION KEMIRA AND MICROPOLLUTANT REMOVAL Activated Carbon (AC) the most commonly used technology • Acquisition of Norit’s reactivation in micropollutant removal; market moving increasingly operations
Slide 40: Biogas applications are of increasing interest
Biogas applications are of increasing interest MARKET DESCRIPTION KEMIRA AND BIOGAS APPLICATIONS Biogas market expected to grow significantly in coming years • Our products, particularly coagulants, can due to increased focus on energy independence and green transition significantly enhance biogas y
Slide 41: Industrial water services present growth potential
Industrial water services also present interesting growth potential MARKET DESCRIPTION KEMIRA AND INDUSTRIAL WATER SERVICES Industrial water services include several applications, such • Kemira’s current industrial water treatment revenue as boiler & cooling, raw water intake and wastewater around E
Slide 42: Regulation continues to support growth in water treatment
Regulation continues to support the growth in water treatment REGION REGULATION UNDER REVIEW COMMENTS & IMPLICATIONS EUROPE Urban Wastewater Treatment Directive (UWWT) • Driver for the enforcement of existing legislation in all countries especially for phosphorus removal; tighter limits gradually st
Slide 43: Fiber businesses
INVESTOR PRESENTATION Fiber businesses Packaging & Hygiene Solutions and Fiber Essentials APRIL 25, 2025 INVESTOR PRESENTATION 43
Slide 44: Fiber businesses value chain
Fiber businesses TECHNOLOGY AND MARKET LEADER RAW CUSTOMER INTERMEDIATES PRODUCTS APPLICATIONS CUSTOMERS MATERIALS INDUSTRIES Electricity Tall oil rosin Sodium chlorate Pulping Pulp All the major global Sodium chloride AKD Wax Hydrogen peroxide Bleaching Packaging paper (salt) and board and pulp pro
Slide 45: Packaging & Hygiene Solutions is well positioned
Packaging & Hygiene Solutions is well positioned in several applications KEY STRENGTHS OF THE NEW BUSINESS UNIT • Long-term customer relationships 5% demonstrated through consistent reliability 10% 25% and extensive collaboration; high customer satisfaction KEMIRA KEMIRA 40% REVENUE REVENUE • High e
Slide 46: Packaging & Hygiene Solutions is #2 in an expanding global market
Packaging & Hygiene Solutions is #2 in an expanding global market LARGE ADDRESSABLE MARKET SOME MARKET GROWTH KEMIRA HAS A GOOD MARKET EXPECTED POSITION 5% EUR billion ~2% 7.6 15% 6.7 #2 ~15% GLOBAL MARKET EUR MARKET POSITION ~7 BILLION 5.0 SHARE 15% 4.3 65% 1.1 1.3 Packaging & Board Other 1.0 0.8 T
Slide 47: Our products significantly improve our customers' footprint
RENEWABLE PRODUCTS Our products Positive climate impact* while maintaining product functionality Fossil-based raw materials cut by significantly >50% vs. standard products improve our customers’ STRENGTH DIGITAL SOLUTIONS footprint Making packaging Optimizing overall lighter and stronger, process im
Slide 48: Attractive growth in new end-markets
Attractive growth in new end-markets MOLDED TEXTILE RENEWABLE DIGITAL FIBERS FIBERS CHEMISTRY SOLUTIONS SERVICES Molded fiber continues Demand for novel sustainable Transition away from fossil- The chemical market is momentum as the sustain- solutions in the textile value based materials provides tr
Slide 49: We are competitively positioned in growing fiber-based applications
We are 100 YEARS OF BROADEST PULP & EXPERTISE IN FIBER PAPER CHEMICAL WATER CHEMISTRY PRODUCT PORTFOLIO competitively IN THE WORLD positioned in the growing fiber- based applications LONG ESTABLISHED BROAD CAPABILITIES CUSTOMER TO SERVE CUSTOMERS RELATIONSHIPS ACROSS THE GLOBE APRIL 25, 2025 INVESTO
Slide 50: Fiber Essentials focuses on critical pulp chemicals
Fiber Essentials focuses on critical pulp chemicals, particularly in mature markets KEY STRENGTHS OF NEW BUSINESS UNIT 5% • Strong customer loyalty and high retention 15% 15% • Long customer contracts with pricing largely based on formulas 15% REVENUE GEOGRAPHIC • Strong commitment to quality and re
Slide 51: Sodium Chlorate is the largest business
Sodium Chlorate is the largest business; market growing particularly in South America REGIONAL MARKET CAPACITIES* MARKET GROWING SLIGHTLY KEMIRA HAS A GOOD POSITION EUR billion +1% 20% of the global capacity* 10% 1.7 CAGR 1.5 #1 Market leader NA: -1% in EMEA 20% 45% In the growing South #2 American
Slide 52: We benefit from our customers' sustainability transition
We benefit from our customers’ sustainability transition CHEMICALS ARE A SIGNIFICANT CONTRIBUTOR WE ARE WORKING TO EXPAND OUR TO OUR CUSTOMERS’ SCOPE 3 EMISSIONS RENEWABLE PRODUCT PORTFOLIO Introducing sustainable and carbon free electrochemical as one of the pioneering suppliers Increasing customer
Slide 53: Latest news and financials
INVESTOR PRESENTATION Latest news and financials APRIL 25, 2025 INVESTOR PRESENTATION 53
Slide 54: Highlights of Q1 2025
Highlights of Q1 2025 Market uncertainty increased – Kemira’s local business model resilient to economic cycles and tariffs Solid profitability in a softer market environment • Organic growth -2% reflecting softer demand environment • Operative EBITDA margin solid at 19.1% within our financial targe
Slide 55: Financial highlights of Q1 2025
Financial highlights of Q1 2025 EUR million Q1 Q1 Slight organic revenue decline in Q1 2025 (except ratios) 2025 2024 Δ% 2024 • Organic growth -2%, stable revenue development in Revenue 708.8 763.3 -8% 2,948.1 Water Solutions and Fiber Essentials. Negative organic growth in Packaging & Hygiene Solut
Slide 56: Water Solutions: Strong profitability, steady demand
Water Solutions: Strong profitability, steady demand REVENUE AND ORGANIC REVENUE GROWTH (Y-ON-Y) EUR million Market environment 5% 3% 6% 0% 350 24% 14% 3% -2% -2% • Market continued to grow slightly in all regions 300 250 Organic revenue growth stable due to lower contract 200 manufacturing 150 291
Slide 57: Packaging & Hygiene Solutions: End-market demand remained soft
Packaging & Hygiene Solutions: End-market demand remained soft REVENUE AND REVENUE GROWTH* (Y-ON-Y) EUR million Market environment 300 -4% 0% 0% 0% -6% • Market environment remained soft in APAC and 250 China 200 150 283 269 256 265 271 269 264 • Market activity slowed down in North America 100 255
Slide 58: Fiber Essentials: Solid overall performance
Fiber Essentials: Solid overall performance REVENUE AND REVENUE GROWTH* (Y-ON-Y) EUR million Market environment 250 • Soft market environment continued in bleaching -32% -6% -3% -3% 0% chemicals following softness in packaging demand 200 150 Organic revenue growth stable 222 100 153 154 152 151 • Sa
Slide 59: Joint venture with IFF to produce biobased materials at scale
Joint venture with IFF to produce biobased materials at scale • New-to-the-world renewable polymer offering building on Kemira’s and IFF’s long-term partnership • Aim to replace fossil-based equivalents in several applications, such as packaging and water treatment • Completely biobased with plant-b
Slide 60: Further growth steps taken this year
Further growth steps taken this year Acquisition of Thatcher Group’s iron sulfate coagulant business in the US • Bolt-on acquisition expanding the water business on the East Coast of the United States, good fit with Kemira’s existing operational network • Annual revenue less than USD 10 million Expa
Slide 61: Strategy execution in 2025
STRATEGY EXECUTION IN 2025 WATER SOLUTIONS • Continue expansion investments and execute on M&A pipeline • Maintain strong financial performance PACKAGING & HYGIENE SOLUTIONS • Capture growth opportunities as markets start to recover; look for margin improvement opportunities • Strengthen presence in
Slide 62: Financials Q1 2025
PETRI CASTRÉN CFO Financials Q1 2025 APRIL 25, 2025 INVESTOR PRESENTATION 62
Slide 63: Q1 operative EBITDA margin 19.1%
Q1 operative EBITDA margin 19.1% Q1/2025 REVENUE AND ORGANIC GROWTH (Y-ON-Y) Organic revenue growth of -2% EUR million • Stable organic growth in Water Solutions and Fiber 763 -45 719 709 Essentials partly offsetting revenue decline of * -3 -17 3 6 Packaging & Hygiene Solutions • Sales volumes were
Slide 64: Negative net impact from sales prices and variable costs
Negative net impact from sales prices and variable costs SALES PRICES AND VARIABLE COSTS (CHANGE Y-O-Y) EUR million 300 269 250 256 200 188 197 129 174 150 152 138 141 99 122 100 59 68 64 97 11 4 8 32 28 36 75 50 -20 -10 -2 24 28 25 16 28 15 62 70 16 66 9 5 -3 -2 47 42 2 -16 16 26 37 34 43 38 -23 -2
Slide 65: Strong balance sheet and ROCE
Strong balance sheet and ROCE NET DEBT (EUR million) AND LEVERAGE RATIO* 771 • Balance sheet continues to be very strong 535 • Gearing 13% (23% in Q1 2024) 1.3 292 • Net debt / operative EBITDA at a record-strong level 0.8 216 of 0.4 0.5 0.4 • Average interest rate of net debt excluding leases Dec 3
Slide 66: Solid cash flow generation
Solid cash flow generation ALL KEY FIGURES IN EUR MILLION • Solid cash flow of MEUR 55.0 in seasonally slower quarter. CASH FLOW FROM OPERATIONS Deline from high comparison period Q1 2024. Net working 546 485 capital increased compared to the end of year 2024. 97 401 42 143 98 133 • Supplementary pe
Slide 67: Resilient business model brings stability in uncertain market
Resilient business model brings stability in an uncertain market environment EXPECTED IMPACTS OF A POSSIBLE TRADE WAR Direct impacts limited • Resilient business model with mostly local production for local customers • All trade flows, including sales and raw material purchases, into the US from oth
Slide 68: Outlook for 2025 unchanged
Outlook for 2025 unchanged OUTLOOK ASSUMPTIONS FOR 2025 (SPECIFIED) REVENUE Kemira’s revenue in local currencies, excluding • The increased global economic uncertainty is expected to result in softer volume demand in acquisitions and divestments, is expected to be Kemira's end-markets. The uncertain
Slide 69: Kemira's cost structure and top raw materials
Kemira’s cost structure and top raw materials DIRECT PURCHASES AND EXPOSURE TO OIL RELATED TOP 12 RAW MATERIALS LOGISTICS COSTS 2024 RAW MATERIALS BY SPEND (around 50% of total EUR 1.6 billion raw material spend) 65% 35% 1. Sodium hydroxide (caustic soda)* 20% Not oil Oil & gas 2. Acrylonitril
Slide 70: Kemira has a diversified financing base
Kemira has a diversified financing base GROSS DEBT AT THE END OF MARCH 2025: EUR 671 MILLION, MATURITY PROFILE EXCLUDING LEASES APRIL 25, 2025 INVESTOR PRESENTATION 70
Slide 71: Majority of contracts with fixed annual pricing
Majority of contracts with fixed annual pricing Water Solutions– Contract types and pricing terms* • Length – Around 75% of contracts are 1-yr or longer / 25% spot deals • Pricing – Around 55% fixed (particularly in Urban Americas & EMEA) / 45% formula or spot pricing Packaging and Hygiene Solutions
Slide 72: Kemira aims to pay an attractive dividend
Kemira aims to pay an attractive dividend KEMIRA’S DIVIDEND POLICY Competitive and over-time increasing dividend No fixed payout ratio We have a solid dividend track record Dividend per share Dividend yield 0.74 0.68 0.62 0.53 0.53 0.53 0.53 0.53 0.53 0.53 0.53 0.56 0.58 0.58 5.8% 5.4% 5.4% 4.5%
Slide 73: Appendix
INVESTOR PRESENTATION Appendix APRIL 25, 2025 INVESTOR PRESENTATION 73
Slide 74: Some currency impact in Q1 2025
Some currency impact in Q1 2025 KEMIRA REVENUE DISTRIBUTION IN 2024 • Main currency exposure comes via translation 6% Others impact 2% PLN 45% EUR • Transaction risk is limited as revenues and costs 2% BRL are typically in same currency due to local 2% SEK manufacturing. Transaction risk m
Slide 75: Key figures (reported)
Key figures (reported) Q1 Q4 Q3 Q2 Q1 2024 2023 EUR million 2025 2024 2024 2024 2024 Revenue 708.8 723.7 727.6 733.4 763.3 2,948.1 3,383.7 Operative EBITDA 135.5 135.0 147.4 140.5 162.5 585.4 666.7 margin 19.1% 18.7% 20.3% 19.2% 21.3% 19.9% 19.7% Operative EBIT 85.6 86.2 100.8 94.0 117.6 398.7 463.0
Slide 76: Key figures, Oil & Gas divestment adjusted
Key figures, Oil & Gas divestment adjusted Q1 Q4 Q3 Q2 Q1 EUR million 2025 2024 2024 2024 2024 2024 2023 Revenue 708.8 723.7 727.6 733.4 718.8 2,903.5 2,889.0 Operative EBITDA 135.5 135.0 147.4 140.5 159.2 582.1 595.9 margin 19.1% 18.7% 20.3% 19.2% 22.2% 20.0% 20.6% Operative EBIT 85.6 86.2 100.8 94
Slide 77: Cash flow
Cash flow EUR million Q1 2025 Q1 2024 2024 Net profit for the period 61.7 79.0 262.7 Total adjustments 70.3 81.3 312.9 Change in net working capital -40.7 -9.3 28.5 Finance expenses -6.9 -15.2 -29.8 Income taxes paid -29.4 -38.2 -89.6 Net cash generated from operating activities 55.0 97.7 484.6 Purc
Slide 78: Water Solutions key financials
Water Solutions KEY FINANCIALS EUR million Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 2024 2023 Revenue 303.8 311.3 328.6 321.0 340.5 1,301.4 1,635.5 Revenue, O&G divestment adjusted 303.8 311.3 328.6 321.0 295.9 1,256.9 1,140.9 Operative EBITDA 65.1 58.8 76.7 72.6 74.3 282.3 335.8 Margin 21.4% 18.9% 2
Slide 79: Packaging & Hygiene Solutions key financials
Packaging & Hygiene Solutions KEY FINANCIALS EUR million Q1 Q4 Q3 Q2 Q1 2024 2023 2025 2024 2024 2024 2024 Revenue 253.7 263.9 254.8 268.5 271.1 1,058.5 1,072.0 Operative EBITDA 30.5 28.4 30.1 35.7 42.1 136.3 132.1 margin 12.0% 10.8% 11.8% 13.3% 15.5% 12.9% 12.3% Operative EBIT 13.9 12.5 15.4 20.2 2
Slide 80: Fiber Essentials key financials
Fiber Essentials KEY FINANCIALS EUR million Q1 Q4 Q3 Q2 Q1 2024 2023 2025 2024 2024 2024 2024 Revenue 151.2 148.5 144.1 143.9 151.7 588.2 676.1 Operative EBITDA 39.8 47.8 40.7 32.2 46.1 166.7 198.8 margin 26.3% 32.2% 28.2% 22.4% 30.4% 28.3% 29.4% Operative EBIT 24.7 32.5 25.6 17.8 31.7 107.7 142.5 m
Slide 81: Revenue split by country
Revenue split by country FY 2024 Other APAC 6% China 4% Other EMEA 9% USA 24% Belgium 2% Netherlands 3% France 3% Spain 3% Italy 3% Canada 7% Poland 3% Brazil 2% UK 3% Other Americas 4% Germany 4% Sweden 7% Finland 13% APRIL 25, 2025 INVESTOR PRESENTATION 81
Slide 82: Largest shareholders and Board of Directors
Kemira – largest shareholders and Board of Directors SHAREHOLDERS ON MARCH 31, 2025 KEMIRA BOARD OF DIRECTORS ANNIKA TIMO % OF SHARES PAASIKIVI LAPPALAINEN 1. Oras Invest 22.6% Chair Member since Member since 2014 2. Varma Mutual Pension Insurance Company 3.7% 2022 3. Ilmarinen Mutual Pension Insura
Slide 83: Kemira's Leadership Team
KEMIRA’S LEADERSHIP TEAM AS OF 2025 Antti Salminen Petri Castrén Tuija Pohjolainen- Harri Eronen Antti Matula President & CEO CFO Hiltunen EVP, Packaging & EVP, Fiber Essentials EVP, Water Solutions Hygiene Solutions Linus Hildebrandt Sampo Lahtinen Peter Ersman Eeva Salonen Simon Bloem EVP, Strateg
Slide 84: Important information about financial figures
Important information about financial figures Kemira provides certain financial performance measures (alternative performance measures) that are not defined by IFRS. Kemira believes that alternative performance measures followed by capital markets and Kemira management, such as revenue growth in loc
Slide 85: Chemistry with a purpose. Better every day.
4 e mM | cra Chemistry with a purpose. Better every day.