Kemira at all-time high after Q1 beat as demand recovers
26/04/2024 08:58
** Kemira shares KEMIRA.HE rally around 8% to record high
after Finnish chemical solutions maker reported better than
expected Q1 results, citing a gradual recovery in demand
** Kemira books an operative EBITDA of EUR 163 million
($175 million) in Q1, which Inderes analysts Petri Gostowski
says was well above 138 million seen in a consensus
** "Market demand continued to recover gradually and we saw
volume growth both year-on-year and sequentially in both
segments," CEO Antti Salminen says
** Salminen says the political strikes in Finland had only a
limited impact on the Pulp & Paper segment
** The company keeps its guidance for 2024, as it expects
end-market demand to grow slightly in 2024 amid pulp and paper
demand recovery
** If gains persist, the stock, which hit an all-time high
of 18.57 euros, will see its best day since February 2023
($1 = 0.9316 euros)
(Reporting by Agnieszka Oleńska)
((Agnieszka.Olenska@thomsonreuters.com;))