Kemira (KEMIRA) Q4 2025 earnings summary

Executive summary

• Revenue declined 7% year-over-year to EUR 2,753.5 million in 2025, with all business units impacted by weak market demand and negative FX effects.

• Operative EBITDA margin remained strong at 19.1% for the year, despite lower sales volumes and pricing pressure.

• Strategic acquisitions and investments in water services, including Water Engineering, Inc., Thatcher Group's iron sulfate coagulant business, and partnerships for AI-driven water treatment innovation, expanded the water treatment footprint.

• Customer engagement and employee commitment supported ongoing strategy execution.

• Sustainability performance improved, with higher CDP and EcoVadis scores, new emissions reduction targets, and progress on CO2 reduction.

Financial highlights

• Q4 2025 revenue fell 8% year-over-year to EUR 663.7 million; full-year revenue was EUR 2,753.5 million, down 7% from 2024.

• Operative EBITDA for 2025 was EUR 524.6 million (margin 19.1%), down 10% from 2024.

• Full-year net profit was EUR 194.1 million, a 15% decrease year-over-year; EPS (diluted) was EUR 1.18.

• Cash flow from operations was EUR 378.2 million, down from EUR 484.6 million in 2024.

• Items affecting comparability in Q4 totaled over EUR 32 million, mainly from restructuring, site closures, and transaction costs.

Outlook and guidance

• 2026 revenue expected between EUR 2,600–3,000 million; operative EBITDA guidance set at EUR 470–570 million.

• Outlook assumes continued global economic uncertainty, stable raw material costs, and no major operational disruptions.

• Long-term targets: annual organic growth >4%, operative EBITDA margin 18–21%, operative ROCE >16%.