Petrochemical company Sibur's Q1'FY14 EBITDA rises 10.1%

11 Jun '14

2 min read

OAO SIBUR Holding, an integrated gas processing and petrochemicals company, published its operational and financial results for the three months ended 31 March 2014 in accordance with International Financial Reporting Standards (IFRS).

Operational highlights

-Associated petroleum gas (APG) processing volumes increased by 3.4% year-on-year

-Raw natural gas liquids (raw NGL) production increased by 7.5% year-on-year

-Natural gas liquids (NGLs) sales volumes increased by 40.5% year-on-year

-An increase in revenue from sales of energy products by 42.4% year-on-year

-An increase in revenue from sales of basic polymers by 48% year-on-year

-A decrease in revenue from sales of synthetic rubbers by 21.3% year-on-year

Financial highlights

-Revenue increased by 20.9% year-on-year

-EBITDA increased by 10.1% year-on-year

Operational Results

In the first quarter of 2014, SIBUR’s gas processing plants (GPPs) processed 5.04 billion cubic metres of APG(1), an increase of 3.4% year-on-year. As a result, production of natural gas(2) rose by 3.2% year-on-year to 4.4 billion cubic metres. Raw NGL production increased by 7.5% year-on-year to 1.4 million tonnes.

SIBUR increased sales volumes of the majority of its energy products primarily due to substantial expansion of trading activities for LPG and naphtha following the launch of Ust-Luga transshipment facility.

External sales of NGLs, including liquefied petroleum gases (LPG), naphtha and raw NGL, rose 40.5% year-on-year to 1.5 million tonnes. Natural gas sales volumes decreased by 17.8% year-on-year to 2.9 billion cubic metres. Sales volumes of petrochemical products totaled 496.4 thousand tonnes, a decrease of 6.2% year-on-year.

Click here to view full results.

SIBUR

More SIBUR Holding JSC News... More Textiles News - Russia...