We have cut our 2025–2027e clean EPS by an average of c4% on a weaker than expected Q1 and our lowered estimates, mainly for Packaging & Hygiene and Fiber. The share price suggests an attractive 2025e EV/EBITDA of c5.5x and c25% upside potential to our lowered target price of EUR23 (25). We reiterate our BUY.
Our focus in the Q1 results (due on 25 April, no details yet) will be clean EBITDA and demand comments, which may reflect increased uncertainty. We have cut our 2025–2027e clean EPS by c4% and our target price to EUR25 (27), but reiterate our BUY.
A potential peace deal between Russia and Ukraine could unlock one of the largest reconstruction efforts in modern history. The World Bank estimates Ukraine will need USD486bn in rebuilding efforts over the next decade, but we estimate this would add only c2% to annual European construction spending. While the direct earnings effect may be modest, we expect the “rebuild Ukraine theme” to drive investor sentiment. We see Volvo, Epiroc, Hexagon, Metso, Hiab and ABB as some of the primary beneficia...
After tweaking our 2025–2026e clean EPS following the Q4 results, we reiterate our BUY and EUR27 target price. In our view, earnings quality and stability are attractively valued at a 2025e EV/EBITDA of c6x versus the wider chemicals peer group on c7.5x.
We expect Kemira’s CMD to focus on growth ambitions and a new clean EBITDA margin target, which may be announced ahead of or at the event on 26 September. We expect the clean EBITDA margin target range to remain but be narrowed and the level raised. We reiterate our BUY and EUR27 target price.
We have reduced our 2024–2026e clean EPS by c2% on average, and reiterate our BUY and EUR27 target price. Q2 clean EBITDA was slightly below our forecast and consensus, but we find the 2024 outlook, guidance and overall case fundamentals intact.
A director at Kemira Oyj sold 15,000 shares at 23.180EUR and the significance rating of the trade was 59/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly show...
Following Kemira’s revised 2024 guidance on 10 June, we have increased our 2024–2026e clean EPS by c8% on average. We still find the case positive, as the company continues to demonstrate improving earnings quality. We reiterate our BUY and have raised our target price to EUR27 (23).
With limited estimate changes ahead of the Q1 results, we continue to have a positive stance on Kemira, reiterating our BUY and EUR21 target price. We do not expect effects from the political strikes in Finland to prompt changes to the 2024 sales and clean EBITDA guidance. Our focus has shifted to the new CEO’s potential strategy actions into the summer or autumn.
Given the ongoing Oil & Gas (O&G) exit, we expect Kemira to guide for core 2024 sales and clean EBITDA with a typical wide range. Detailed consensus is not available and post-Q3 is not comparable to our estimates, which now exclude O&G from 2024. With our minor 2023–2025e clean EPS changes, we reiterate our BUY and EUR21 target price.
We initiate coverage of Kemira, a Finnish speciality chemicals company, with a BUY and EUR21 target price. We like its exposure to structural growth drivers, above-consensus 2025e earnings recovery, and robust financials that leave room for a healthy dividend yield, potential M&A and multiples expansion.
The general evaluation of KEMIRA (FI), a company active in the Speciality Chemicals industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date March 15, 2022, the closing price was EUR ...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Kemira Oyj: Change in the holding of the company’s own shares Kemira OyjStock Exchange ReleaseSeptember 8, 2020 at 3 pm (CET+1) Kemira Oyj: Change in the holding of the company’s own shares On September 8, 2020 a total of 5,871 shares have been returned to Kemira Oyj. The return is related to the share issues announced on March 7, 2019 and March 5, 2020. In the share issues, Kemira shares held by the company were conveyed to key employees participating in the share incentive plan during the 2018 and 2019 performance periods. The shares were returned to the company based on the ...
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