Kemira Investor Presentation
Balance sheet further strengthened
NET WORKING CAPITAL DEVELOPMENT
468
467
407
362
410
254
292
288
287
491
474
Net working capital increased compared to year-
408
434
422
269
281
324
352
368
393
402
440
500
542
596
533
494
end as payables decreased faster than inventories
and receivables
-383
-382
-438
-505
-501
-565
-603
-604
-506
Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022
Q1 2023
Inventories
Receivables
Payables
NET DEBT (EUR million) AND LEVERAGE RATIO*
900
850
759
771
708
1.7
2.0
1.3
2.0
1.1
•
Dec 31
2020
Dec 31
2021
Dec 31
2022
March 31
2022
March 31
2023
•
* Leverage ratio = Net debt / last 12 months operative EBITDA
Kemira
APRIL 25, 2023
INVESTOR PRESENTATION
Balance sheet strengthened during the quarter:
gearing 45% (68% in Q1 2022) - within financial target
range of below 75%
Average interest rate of net debt excluding leases
2.5% (1.7%) and duration 21 (25) months
Operative ROCE improved to a strong level of 19.4%
(Q1 2022 11.7%)
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