Home / Knowledge / News / Textiles / Petrochemical sales drive Sibur H1 revenues by 5.6%
Petrochemical sales drive Sibur H1 revenues by 5.6%
30
Sep '15
Driven by a massive hike in petrochemicals sales, revenues for the six months to June 30, 2015 at Russian integrated gas processing and petrochemicals company Sibur grew 5.6 per cent year on year.

“In the first half of 2015, revenue increased 5.6 per cent to RR 181,397 million compared to RR 171,712 million in the first half of 2014,” a Sibur press release informed.

This was driven by a steep 44.9 per cent over the same period of 2014 from sales of petrochemical products which touched RR 86,841 million.

Sibur attributed this to higher PP production following a year-on-year increase in Tobolsk polymer plant average capacity utilisation rate that resulted in a 52.6 per cent increase in sales of basic polymers.

Alongside, sales volumes of petrochemical products in the reporting period too soared 30.0 per cent over the year ago period, while PP production volumes drove up 69.5 per cent from the first half of 2014.

Sibur added that its revenue from sales of basic polymers in the first half of 2015 also increased massively by 52.6 per cent year on year.

In the first half of 2015, Sibur recorded a 30.6 per cent growth in EBITDA, led by almost five-fold growth in the EBITDA of its petrochemicals segment.

“We recorded the highest EBITDA margin of 35.6 per cent for the Group and our petrochemicals segment recorded 31.4 per cent EBITDA margin,” it informed.

For the period under review, its adjusted profit rose 11.7 per cent to RR 34,307 million as against RR 30,727 million a year earlier.

Its capital expenditures expanded 15.1 per cent to RR 30,537 million in the first half of 2015 vis-à-vis RR 26,520 million in the comparable period of 2015.

“In the first half of 2015, Sibur delivered strong financial results despite the challenging environment, which proves that the strategy of building a vertically integrated company is right,” CEO Dmitry Konov said.

“Starting from the second quarter of 2014, our feedstock & energy business have been affected by the collapsed pricing for the majority of energy products on the back of lower oil prices,” he too added.

“At the same time, the expansion of our petrochemical business helped to partly mitigate the downward profitability trend in our feedstock & energy segment,” Konov stated. (AR)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 23rd Mar 2017

South Korean Samil Spinning acquires Buhler Quality Yarns

South Korean yarn producer Samil Spinning has acquired US based...

Apparel/Garments | On 23rd Mar 2017

E-retailers to pay up to 1% TCS under GST

E-retail marketplaces will need to deduct up to 1 per cent tax...

Textiles | On 23rd Mar 2017

Lanxess to expand chemical intermediates capacity

The Advanced Industrial Intermediates business unit of German...

Interviews View All

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search