Indorama Ventures Q3 2017 results: quarterly earnings hit new record level
BANGKOK, Thailand, November 10, 2017-
Indorama Ventures Public Company Limited (IVL), a global chemical producer, today reported financial results for the third quarter 2017.
The Company Q3 Core EBITDA rose 34% YoY to a new high of US$ 291 million. Core Net Profit increased 68% to US$ 137 million, mainly driven by higher operating rate, higher volume from its EOEG facility post turnaround in 2Q17, higher PET margins and the full quarter earnings impact of the Glanzstoff acquisition. Operating profit grew by 46% to US$ 198 million with a production volume of 2.39 million tonnes. For three consecutive quarters, the Company has exceeded $100 EBITDA/tonne, and reached $122 in 3Q17. With additional tailwinds from strong volumes and industry supply tightness, due to financial problems being faced by certain competitors in Europe and America, the Company has further grown its top line and margins, which is continuing towards the end of the year.
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