Indorama FY 2016 results: after-tax profit up 145%, aided by acquisitions




BANGKOK, Thailand, February 17, 2017-

Indorama Ventures Public Company Limited (IVL), a global chemical producer, today announced its fourth quarter and full year results for 2016.

For the full year, the Company reported a significant increase in its Net profit (after tax and non-controlling interests) of Baht 16.2 billion, an increase of 145% year-on-year (YoY). Core EBITDA has grown by 25% to which each of the business segments contributed. Core EBITDA for the PET segment grew at 19%, the Fibers segment increased by 8% while the Feedstock segment grew by 42%. Production volumes increased sharply by 24% to 8.7 million tonnes following the completion of two major acquisitions in April 2016 in relatively higher margin markets of USA and Europe. These acquisitions in USA and Spain were aimed mainly at enhancing value addition and hedging the value chain by increasing feedstock integration while improving the overall financial performance of the Company. All of this was achieved in what was otherwise a benign business environment, especially in Asia with the overall necessities industry being impacted by excess capacity, low operating rates and the resultant lowest margins seen in the last 5 years.


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