Kemira (KEMIRA) Investor presentation summary

Company overview and strategy

• Operative EBITDA margin reached 19.1% in 2025, with revenue of €2,753.5 million and ROCE at 16.5%.

• Water Solutions is the largest business unit, accounting for 45% of revenue and holding a top 1-3 market position in Europe and North America.

• Strategic focus is on expanding the water business, building a leading renewable solutions portfolio, and unlocking new growth platforms.

• Target to double water revenue and achieve over €500 million in renewable chemistries revenue by 2030.

• Recent acquisitions and investments include Water Engineering, Inc., AquaBlue, Inc., and a new activated carbon reactivation plant in Sweden.

Financial performance and outlook

• 2025 revenue declined by 5% year-on-year, with organic growth at -4% due to weak demand in Packaging & Hygiene Solutions and Fiber Essentials.

• Operative EBITDA for 2025 was €524.6 million, down 10% from the previous year.

• Q4 2025 saw an 8% revenue decline and an 11% drop in operative EBITDA compared to Q4 2024.

• 2026 revenue is expected between €2,600 and €3,000 million, with operative EBITDA projected at €470–570 million.

• Dividend proposed at €0.76 per share, continuing a track record of annual increases.

Business unit performance

• Water Solutions: 2025 revenue €1,221.5 million, EBITDA margin 21.5%, with strong market positions and focus on municipal and industrial water treatment.

• Packaging & Hygiene Solutions: 2025 revenue €970.2 million, EBITDA margin 12.0%, with ongoing profitability improvement initiatives.

• Fiber Essentials: 2025 revenue €561.9 million, EBITDA margin 25.9%, with market softness impacting volumes.