Kemira drops on Pulp and Paper pricing weakness

Kemira Oyj

17/07/2024 09:09

** Shares in Kemira  KEMIRA.HE  drop around 10% to nearly
two-month low after the Finnish chemical solutions maker
reported weaker sales at its Pulp and Paper division
    ** OP analyst Henri Parkkinen says the sales prices in the
Pulp and Paper division are down significantly, putting some
pressure on H2 2024 and 2025 consensus expectations 
    ** The segment's revenue decreased 2% y/y to EUR 412.4
million ($449.93 million), against EUR 427.4 million seen in
Vara consensus, as the company said 1% higher volumes were
offset by the lower sales prices 
    ** Parkkinen adds that Kemira has clearly outperformed its
peers in 2024; up to the previous session's close, shares were
up 39%​ YTD

($1 = 0.9166 euros)

 (Reporting by Agata Rybska)
 ((gdansk.newsroom@thomsonreuters.com;))