Speaker 1
Temira just published its half-year financial report. In the second quarter, our operating environment continued challenging. Revenue remained stable versus the previous year, mainly thanks to M&A-driven volume growth. However, operative EBITDA margin declined to 16.1%, mainly due to cost inflation. In water solutions in the second quarter, revenue increased from the previous year, driven by acquisitions. However, profitability declined year on year and the operative EBITDA margin was 17.4%. The decline was mainly due to cost inflation. In packaging and hygiene solutions, the Q2 revenue remained stable year on year. Profitability improved and the operative EBITDA margin totaled 11.6%. The improvement was mainly driven by cost savings that result from the operating model change. The new operating model was implemented in the beginning of the year. In fiber essentials, the Q2 revenue decreased year on year, mainly driven by both volumes and pricing. Accordingly, the operative EBITDA margin declined to 21.4%. In the second quarter, a lot of our focus was on Kemira's short-term competitiveness. We have implemented customer price increases to mitigate the impacts of cost inflation, but it takes up to two quarters before their impact is fully visible in our financials. We have also continued to execute on our strategy and have made investments in Temira's long-term growth. In Q2, we completed the acquisition of the business of Clearwater Technologies Inc. in the US. Going forward, we do not expect any major changes in our market environment in the near term. We reiterate our outlook that was updated in June. We expect our full year revenue to be between 2.6 and 3 billion euros and our full year operative EBITDA to be between 400 and 500 million euros. We naturally continue our focus on operational and cost efficiency. That was Kemira's second quarter in a brief. Now it's time to wish everyone a lovely summer. In case you have any questions, feel free to be in contact with our investor relations team. Thank you and I wish you all a great summer.
