News Article | April 26, 2017
Kemira Oyj's Interim Report January-March 2017: Revenue grew in all segments while profitability was under pressure This is a summary of the January - March 2017 Interim report. The complete Interim report with tables is attached to this release and available at www.kemira.com/investors Kemira expects its operative EBITDA to increase from the prior year (2016: EUR 302.5 million). Kemira's President and CEO Jari Rosendal: "The start for the year was two-folded. Our revenue grew in all segments driven by the organic growth while profitability was below the prior-year level due to three main reasons. Sales prices are still lower than a year ago, although the decline in sales prices has stopped on sequential comparison. Rising feedstock prices impacted profitability for all segments as the tightness in ethylene and propylene markets caused sudden increases in oil-based raw material prices. Temporary supply distractions, such as the force majeure at Huntsman Pigments in Finland and the supply shortage of chlorinated fatty acid, have increased costs and caused some asset under-utilization. In Pulp & Paper, sales volumes continued to grow. We lost revenue due to the force majeure, but the underlying revenue generation is developing according to plan. The new site serving Klabin in Brazil is fully operational and we expect the new sodium chlorate line in Joutseno, Finland, to be up and running in the fourth quarter of 2017. The major contract manufacturing agreements with AkzoNobel will end in the coming months leading to synergies of EUR 20 million as a run-rate at the end of 2017. Oil & Mining had organic growth of 16% driven by strong sales volume development in the North American shale oil & gas business. However, the profitability level was unsatisfactory for the segment in Q1 due to recent increases in raw material prices. We have already announced price increases for our polymer products to counteract the impact of these higher raw material costs. In Municipal & Industrial, volume growth continued, however, lower average sales prices and higher manufacturing costs impacted profitability. The segment continued to deliver strong cash flow. We are executing our strategy according to plan in the mixed market environment. We will merge Oil & Mining and Municipal & Industrial into one new segment, Industry & Water. Organizational structure is planned to be changed to support the two segment model and this is expected to result in further operational efficiencies of EUR 15-20 million as a run-rate at the end of 2017. The main objectives of the change are to simplify Kemira's way of working and further improve service to its customers." KEY FIGURES AND RATIOS *12-month rolling average (ROCE, % based on the EBIT) Kemira provides certain financial performance measures (alternative performance measures) on non-GAAP basis. Kemira believes that alternative performance measures, like operative EBITDA and operative EBIT, followed by Kemira management, provide useful and more comparable information of its operative business performance. Kemira's alternative performance measures should not be viewed in isolation to the equivalent IFRS measures and alternative performance measures should be read in conjunction with the most directly comparable IFRS measures. Definitions of the alternative performance measures can be found in the Definitions of the key figures in this report, as well as at www.kemira.com >Investors > Financial information. All the figures in this interim report have been individually rounded and consequently the sum of individual figures can deviate from the presented sum figure. OUTLOOK FOR 2017 (UNCHANGED) Kemira expects its operative EBITDA to increase from the prior year (2016: EUR 302.5 million). MID- AND LONG-TERM FINANCIAL TARGETS (UNCHANGED) Kemira aims at above-the-market revenue growth with operative EBITDA margin of 14-16%. The gearing target is below 60%. Helsinki, April 25, 2017 Capital Markets Day will be held in London on September 21, 2017. PRESS AND ANALYST CONFERENCE AND CONFERENCE CALL Kemira will arrange a press conference for the analysts, investors, and media on April 26, 2017 starting at 10.30 a.m. (8.30 a.m. UK time) at GLO Hotel Kluuvi, Kluuvikatu 4, 2nd Floor, Helsinki. During the conference, Kemira's President and CEO Jari Rosendal and CFO Petri Castrén will present the results. The press conference will be held in English and will be webcasted at www.kemira.com/investors. The presentation material and the webcast recording will be available on the abovementioned company website. You can attend the Q&A session via a conference call. In order to participate in the conference, please call ten minutes before the conference begins: FI +358 9 7479 0361 SE +46 8 5033 6574 UK +44 330 336 9105 US +1 719 325 4746 Conference id: 2982715 For more information, please contact: Kemira Oyj Olli Turunen, Vice President, Investor Relations Tel. +358 10 862 1255 Kemira is a global chemicals company serving customers in water-intensive industries. We provide expertise, application know-how and chemicals that improve our customers' product quality, process and resource efficiency. Our focus is on pulp & paper, oil & gas, mining and water treatment. In 2016, Kemira had annual revenue of around EUR 2.4 billion and 4,800 employees. Kemira shares are listed on the Nasdaq Helsinki Ltd. www.kemira.com
Jalava J.-P.,ProfMath Oy |
Taavitsainen V.-M.,Helsinki Metropolia University of Applied Sciences |
Lamminmaki R.-J.,Huntsman Pigments |
Lindholm M.,Huntsman Pigments |
And 4 more authors.
Journal of Quantitative Spectroscopy and Radiative Transfer | Year: 2015
In recent decades, the use of nanomaterials has become very common. Different nanomaterials are being used in over 1600 consumer products. Nanomaterials have been defined as having at least one dimension in the range of 1-100nm. Such materials often have unique properties. Despite some warnings of applying bulk optical constants for nano size materials, stated already in 1980s, bulk constants are still commonly used in the light scattering measurements of nano size particles. Titanium dioxide is one of the materials that is manufactured and used as an engineered nanomaterial in increasing quantities. Due to the aforementioned facts, it is quite crucial for successful research and production of nanoparticles to find out the dependence of the refractive index function (RIF) of the material on its crystal size. We have earlier performed several ab initio computations for obtaining the dependence of the RIF of TiO2 on the crystal or on the cluster size, for particles of size up to ca. 2nm. Extending the calculations to greater sizes has turned out to be infeasible due to the unbearable increase in computational time. However, in this study we show how the crystal-size-dependent-RIF (CS-RIF), for both rutile and anatase can be modeled from measured extinction or turbidity spectra of samples with varying crystal and particle sizes. For computing the turbidity spectrum, we constructed a model including primary crystals whose distributions were parameterized by mean and standard deviation, and also including aggregates consisting of mean sized primary particles, parameterized just by mean aggregate size. Mainly because of the long computing times Mie calculation was used in the computation of extinction spectra. However, in practical process applications, the obtained RIF will be used together with the T-matrix method. We constructed the RIFs used in the model using generalized oscillator model (GOM) as expanded to crystal size dependence. The unknown parameters of the model were solved using nonlinear least squares estimation. When the crystal size becomes smaller than the bulk size the shape of the estimated CS-RIFs reveal two distinct regions for both rutile and anatase. In the first region, starting apparently already from ca. 200nm, the height of both the real part and the imaginary part of CS-RIF decreases on crystal diameter. However, the band gap remains constant. In the second region, starting when the crystal diameter is decreased to ca. 3nm, a blue shift starts to increase the band gap. The band gap dependence on crystal size is quite consistent with the existing experimental values. Consequently, it is of great importance to use CS-RIF in light scattering measurements for nanoparticle size determination. Neglecting this, the smaller particles in the size distribution will have too small values, already for sub-micrometer particles, naturally distorting also the mean value. To our knowledge, this is the first time ever that a CS-RIF from bulk to 1nm size is determined for any material. © 2015 Elsevier Ltd.
Bird R.,Huntsman Pigments
Chemical Engineer | Year: 2012
Huntsman's titanium dioxide manufacturing plant in Calais, which was in crisis and due for closure, invested €30m to accelerate the sustainability program at Huntsman Pigments' Calais site, and won IChemE Outstanding Achievement in Chemical and Process Engineering Award in November 2011. The reconfiguration of Calais presented many challenges that include an alternative effluent treatment to reduce the carbon footprint of the site by reducing the energy consumption of the process. The real challenge was finding a sustainable way to process and sell the filter salts that were previously fed into the roaster. The first stage focused on the need to develop an engineering solution to reduce or completely remove the economic, safety and environmental burden of the effluent treatment plant. options were also explored for the filter salts and consulted Huntsman Pigments colleagues at Huelva in Spain who were known for their expertise in creating salable products from co-products.