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Kemira Annual Report 2009

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Kemira Annual Report 2009 ANNUAL REPORT 2009 8 CHARLOTTE, NORTH CAROLINA, UNITED STATES GOOD-BYE TO SMELLIES CEO’S INTERVIEW An overview of the past, a vision of the future. In 2007, a paper mill in North Carolina was in trouble. MOSCOW, RUSSIA Some of its neighbors had complained to the Charlotte RESEARCH & DEVELOPMENT County Environmental Agency about the industrial EVERYTHINGS STEMS odors, and the factory faced the risk of having to shut THE POWER 12 FROM INNOVATION down. To determine an effective and economical way of OF ATTRACTION Commercially-viable innovations eliminating the odor caused by volatile fatty acids (VFAs), Interested in a whole ce décor? new dimensionTikkurila’s are the precondition of growth. the manufacturer turned to Kemira for help. The chlorine for home or offi dioxide program chosen as the solution yielded dramatic convenient magnetic special paint and permanent results. The smell was dispelled and turns a wall into a surface that allows neighborliness returned. you to use magnets to put up posters, PAPER drawings, memos or, say, recipes. 16 PROFITABILITY FIRST The updated business model adds to the profi tability of the segment and its customers. MUNICIPAL & INDUSTRIAL MEGATRENDS SHANGHAI, CHINA 22 PROMISE GROWTH Both municipalities and industries are now WHAT GOES investing in water treatment, all over the world. AROUND, COMES AROUND The most important raw material in the OIL & MINING pulp and paper industry is used paper. A GROWING THIRST FOR Recovered printing and writing paper, 28 WATER CHEMICALS brown grades and mixed wastepaper grades Water-intensive extraction industries can be turned into fi ber and used to produce need sustainable solutions. printing paper. Kemira offers a broad range of chemicals to provide solutions that help produce quality recycled fi ber in an effi cient, cost effective, and environmentally 33 CHEMSOLUTIONS responsible manner. One of the company’s important market areas, China, is the 34 TIKKURILA world’s biggest user of recycled fi ber. 38 CORPORATE RESPONSIBILITY 46 KEMIRA BOARD OF DIRECTORS AND MANAGEMENT BOARD The movie classic Giant portrays a freshly DID YOU KNOW? found oil source, gushing black gold to 51 TIKKURILA BOARD OF DIRECTORS the sky. When the greatest pressure has evened out, the oil will need to be retrieved 52 CORPORATE GOVERNANCE from the caves by using pressurized water. LITERS The problem with using water lies in its 105 58 RISK MANAGEMENT is the average daily per capita friction-proneness. Kemira has succeeded consumption of domestic water 59 FINANCIAL STATEMENTS in developing a line of friction-reducing in India. The corresponding chemicals remarkably more effi cient than PRODUCER: SANOMA MAGAZINES FINLAND fi gure for France is 287 liters 136 INFORMATION TO INVESTORS average. These products combine effi cient CUSTOM PUBLISHING PRINTER: ERWEKO and 594 liters for USA. friction reduction properties and excellent SOURCE: HOEKSTRA & CHAPAGAIN (2008) 138 AMAZING WORLD dissolutions rates. 2 139 DEAR READER, he year 2009 was exceptional. Kemira, like many other companies, felt the impacts of global recession. In these challenging con- Tditions, we kept our focus on ensuring a strong cash fl ow and on bringing the planned cost savings and streamlining programs to completion. We exceeded our targets: Kemira’s result increased, as did the operative profi tability of all our seg- ments. Kemira’s revenue in 2009 was EUR 2.5 bil- lion and the operating profi t EUR 157.4 million. Our most important achievement was the signifi - cant reduction of gearing ratio to 53 percent. Tikkurila, Kemira’s paints and coatings business, also performed well despite the challenging busi- ness environment. Tikkurila has been managed in- dependently since 2008. During 2009, Tikkurila’s strategy was sharpened, its operational effi ciency was improved and company values were defi ned. In February 2010, the Kemira Board proposed to the AGM that 86 percent of Tikkurila shares be distributed as dividends to Kemira’s sharehold- ers. Tikkurila’s shares are expected to be listed on NASDAQ OMX Helsinki Ltd in March 2010. These improvements show that we are clearly getting closer to our vision – being a leading wa- ter chemistry company. Meeting that target also re- quires profi table growth which we are now seek- ing from the emerging markets and through our strong water chemistry know-how. We are concen- trating our efforts on serving water-intensive in- dustries, which need effi cient means for manag- ing the quality and quantity of water. In 2009, the discussion on the global water is- sue intensifi ed. When it comes to creating alterna- tives to recycling and more effi cient use of water, chemistry plays a key role. The accelerating wa- ter scarcity, stricter legislation and customer-driv- en streamlining of operations open up opportuni- ties for creating new water applications. Processing fresh water from sea water is one example of our newest research areas. For Kemira, the year 2009 was very good, con- sidering the weakened global economy. Success required from us determination, hard work and a positive attitude. These guidelines show the way to a promising future. I wish you a pleasant reading experience with Kemira’s renewed annual report. HARRI KERMINEN PRESIDENT AND CEO OF KEMIRA 3 INTRO Our planet has only one water mass, which we use continuously. Fortunately, water chemistry offers means to effectively recycle and treat water. CHECHCHEEMICMMICALA MARMAMARRKETKET RERELALATLATATEDE TOO WATWAWATATERER TTRTREREATMA MENTENNTNT, PROCOCOCESSESSSS EFE FICFIFICI IENENENCYC ANDANANDN STASTSTATABILBBIILITYIITTYTY ININ WAATERTEEER INNTTETENENSIVIVVEEI INDUNDUDUSTRSTSTRTRIESIEESES. MARMAMARARKETKEKETET SISIZZEE APPAAP RROROXOXOXIMAIMIMATELELY EURUR 2255 BILBILLLIOLLIIOONN. MARMAMARARKEKETK T BYBY MARMAARRKKETT BBYY SEGEGGMENMEM TSTS REGEGIONIIOONNS PÖYRPÖYRÖYRY, M CILVCI AINAINEAININ ANDNDND KEMKEKEMIRAIRAR MANAMAANANNAAGEMEGEGEMGEMEMEMENTNTE E STIMSTIMT ATATEAT PÖPÖYRPÖYÖYRÖY Y,Y M CILVLVAINEINE ANANDA KEMKEEMMIRAIRA MMAMANAAN GEGEMEMENTTE E STIMTIMMATET 35%5%% PAPPAAPPEERR 30%30%0% EUREEU OPEOPEE, MIDDIDDDLEE EAEASEAST ANDD AFRAAF ICACA 40%4 % MUNMU ICIICIC PALPAALA & ININDINDN USTUS RIAAL 3030%3 % NONORORO THH AMERICRRI A 25%22555% OILO L & MINMINNINGIINNGNG 40%40%% EMEEMEMERGIRGRG NGN MARARA KETTS (APPACAC & SOUTOUO H AMERMEERRICAI A) 4 INTRO INTRO A VITALLY IMPORTANT BUSINESS TEXT KATI HEIKINHEIMO PHOTO ISTOCKPHOTO il price fl uctuations set the The greater the need for water in an pace for the world economy industry, the more pressing the need for in both the short and the optimizing water use. For example, the Olong term. In the future, wa- paper and pulp industry is highly prone ter may replace oil as the primary to disturbances in water availability and economic indicator. quality. The oil industry needs more wa- Due to population growth, our most ter in order to pump petroleum from ma- necessary natural resource is becom- turing drilling areas. The mining industry ing ever more scarce in most parts of is highly dependent on water availability the world. Only one percent of the in deposit areas. world’s water is easily available for use. Solving these problems requires diverse In other words, most of the water we expertise in water treatment. This pres- use has been recycled. ents incredible business opportunities for Urbanization presents a tough chal- Kemira, who aims to become a leader in lenge for municipal wastewater treat- water chemistry. The company estimates ment. The industry struggles to rise to that the global chemical market related the challenges presented by strict envi- to water treatment, process effi ciency and ronmental regulations and increased stability in water intensive industries is water price. worth approximately EUR 25 billion. WATER 5 IN BRIEF IN BRIEF NEW R&D CENTER IN ATLANTA In September 2009, Kemira opened its North Ameri- can R&D center in Atlanta. This is the fourth of fi ve centers in the company’s new R&D organization. The Atlanta center is globally responsible for research re- KEMIRA AT lated to tissue and recycled fi ber, to the oil and mining WORLD EXPO industries and to defoaming and polymer chemistry. 2010 IN REINFORCED OPERATIONS IN INDIA SHANGHAI The Indian market is growing despite the current state emira will take part in of the global economy – also for many of Kemira’s World Expo 2010 in business segments. In fall 2009, Kemira established an KShanghai as a partner in offi ce and a warehouse in the state of Andhra Pradesh. Finpro’s EXPO 2010 project. Located in the city of Hyderabad, this offi ce serves The event, opening in May, customers in the water management and the paper in- is expected to attract over 70 dustries, both directly and through distributors. million visitors. Kemira has been active in China for years, NEW LOGISTICS CENTER NEAR MOSCOW and all the company’s business Tikkurila, Kemira’s paints and coatings business, segments are present in the opened a new logistics and customer service center Chinese market through their in Mytish, near Moscow, in April 2009. This center sales organizations. integrates all of Tikkurila’s operations – sales, mar- Kemira also operates an REGIONAL OPENINGS 2009 REGIONAL keting and warehousing – into a highly effective R&D center in China. Opened supply chain. in 2007, the center develops solutions especially for Asian customers. AWARDS SHOWCASE A SELECTION OF AWARDS FOR KEMIRA RECOGNITION The Nordic Ecolabel Gold Industrial Contribution to Safe on Asphalt “The Swan” Wastewater Pretreatment Sustainable Development
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