Annual Report 1999 - Kemira

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PROPOSAL FOR THE DISTRIBUTION OF PROFITS The net profit of Kemira Oy for the 1999 financial year was EUR 73,241,803 and the distributable equity at 31 December 1999 was EUR 258,105,760. The Group’s non-restricted equity was EUR 485,650,000. The parent company’s payment of a dividend is limited by the Group’s distributable equity, EUR 351,388,000, which is obtained when the share of untaxed reserves that has been transferred to shareholders’ equity and own shares are subtracted from the non-restricted equity shown in the Consolidated Balance Sheet. It is proposed to the Annual General Meeting that a dividend of EUR 0.23 per share, or EUR 29,624,000, be paid for the financial year. It is proposed that EUR 500,000 be reserved for use by the Board of Directors for purposes promoting the common good (among other things, for donations to the Kemira Oyj Foundation). Helsinki, 14 February 2000 Sten-Olof Hansén Niilo Pellonmaa Eija Malmivirta Timo Kaisanlahti Tauno Pihlava Anssi Soila AUDITORS’ REPORT To the shareholders of Kemira Oyj We have audited the accounting records and the financial statements, as well as the administration by the Supervisory Board, the Board of Directors and the Managing Director of Kemira Oyj for the year ended 31 December 1999. The financial statements, which include the report of the Board of Directors, consolidated and parent company income statements, balance sheets and notes to the financial statements, have been prepared by the Board of Directors and the Managing Director. Based on our audit we express an opinion on these financial statements and the company’s administration. We have conducted our audit in accordance with Finnish Generally Accepted Auditing Standards. Those standards require that we plan and perform the audit in order to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by the management, as well as evaluating the overall financial statement presentation. The purpose of our audit of the administration has been to examine that the Supervisory Board, the Board of Directors and the Managing Director have complied with the rules of the Finnish Companies Act. In our opinion, the financial statements have been prepared in accordance with the Finnish Accounting Act and other rules and regulations governing the preparation of financial statements in Finland. The financial statements give a true and fair view, as defined in the Accounting Act, of both the consolidated and parent company result of operations, as well as of the financial position. The financial statements can be adopted and the members of the Supervisory Board, the Board of Directors and the Managing Director of the parent company can be discharged from liability for the period audited by us. The proposal made by the Board of Directors on how to deal with the retained earnings is in compliance with the Finnish Companies Act. Helsinki, 16 February 2000 KPMG WIDERI OY AB Hannu Niilekselä Authorized Public Accountant 40
STATEMENT OF THE SUPERVISORY BOARD The Supervisory Board of Kemira Oyj has read the financial statements of the parent company and the Group for 1999 and studied the Auditors’ report at its meeting today. The Supervisory Board advises the 2000 Annual General Meeting that the company has been managed well and that it has no comments to make on the financial statements of the parent company and the Group for 1999. The Supervisory Board proposes that the financial statements of the parent company and the Group be adopted and that the Board of Directors, the Managing Director and his deputies be discharged from liability. The Supervisory Board concurs with the proposal of the Board of Directors for the distribution of profit funds. Helsinki, 17 February 2000 Timo Kalli Hanna Markkula-Kivisilta Risto Ranki Pekka Kainulainen Kari Rajamäki Helena Rissanen Sirpa Hertell Mikko Långström 41
Page 1: Annual Report 1999
Page 4 and 5: STRATEGY Our strategy is to concent
Page 6 and 7: TO THE READER For Kemira, the 2000
Page 8 and 9: ter and Industrial Chemicals - grew
Page 10 and 11: Far East. In Denmark, potassium nit
Page 12 and 13: man), Timo Kaisanlahti, Eija Malmiv
Page 14 and 15: DISTRIBUTION OF SHAREHOLDERS (31 De
Page 16 and 17: KEY FIGURES PER-SHARE DATA 1999 199
Page 18 and 19: CONSOLIDATED INCOME STATEMENT 1.1.
Page 20 and 21: CONSOLIDATED CASH FLOW STATEMENT 19
Page 22 and 23: pension arrangements (Projected Uni
Page 24 and 25: NOTES TO CONSOLIDATED FINANCIAL STA
Page 36 and 37: KEMIRA OYJ FINANCIAL STATEMENTS INC
Page 38 and 39: NOTES TO KEMIRA OYJ FINANCIAL STATE
Page 42 and 43: KEMIRA CHEMICALS EUR million 800 60
Page 44 and 45: in a Chinese company that manufactu
Page 46 and 47: oth directly and through dealers ha
Page 48 and 49: KEMIRA AGRO EUR million 1200 1000 8
Page 50 and 51: 1993. New ammonia capacity is comin
Page 52 and 53: of TiO 2 . The growth has thus been
Page 54 and 55: KEMIRA GROUP ENVIRONMENTAL REPORT 1
Page 56 and 57: in plant ditches. Crossflow oxidati
Page 58 and 59: ENVIRONMENTAL INVESTMENTS AND OPERA
Page 60 and 61: ENVIRONMENTAL DATA FOR THE KEMIRA G
Page 62 and 63: SUMMARIES OF MAIN PRESS RELEASES JA
Page 64 and 65: ADMINISTRATION According to the Art
Page 66 and 67: MANAGEMENT BOARD Tauno Pihlava, Cha
Page 68 and 69: ISO 14001 An International standard
Page 70 and 71: GROUP COMPANIES 31 December 1999 Co
Page 72 and 73: ADDRESSES FINLAND KEMIRA OYJ Porkka
Page 74 and 75: Production Sales 74

Annual Report 1999 - Kemira

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