Indorama reports Q2 results; achieves record high revenue and EBITDA
BANGKOK, Thailand, August 10, 2022-
Indorama Ventures Public Company Limited (IVL), a global sustainable chemical producer, today reported record Q2 2022 earnings as the company’s global integrated model continues to benefit from strong consumer trends and management responded effectively to market disruptions. IVL posted a record Core EBITDA of US$758 million in the second quarter, up 17% QoQ and 59% YoY. Sales revenue rose by about 11% QoQ on a same-store basis, supporting a Core EBITDA margin of 14%. The combination of strong sales and improved margins helped offset higher energy costs in the U.S. and Europe, while management leveraged the company’s leading position in local and regional markets to ensure uninterrupted customer service levels as higher crude oil prices impacted raw materials costs.
The strong second-quarter performance extends the record profit achieved in 2021 as the company’s differentiated product portfolio grows in line with long-term macro-consumer trends. Most of IVL’s products are used in daily household necessities and are resilient against short-term economic headwinds. This innate stability allows management to continue focusing on the company’s long-term growth strategy of developing its unique global leadership position across its integrated petrochemicals value chain. For example, IVL completed two strategic acquisitions in LATAM and Vietnam in the second quarter, which contributed an additional 12% in revenue growth.
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