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Indorama Ventures H1 2018 revenue up 22%

07
Aug '18
Courtesy: Indorama Ventures
Courtesy: Indorama Ventures
Delivering another record performance, global chemical producer Indorama Ventures Public Company Limited (IVL) has announced that its revenue has gone up by 22 per cent year-on-year to $5.032 billion in the first half (H1) of 2018. The company has registered improvements in production volumes and margins across all key segments and geographies.

The Bangkok-headquartered company posted EBITDA soared by 57 per cent year-on-year to $742 million during January-June 2018. Net profit skyrocketed by 109 per cent to $443 million, an IVL press release said.

“This is an encouraging set of results reflecting the strong execution of our strategy, the growth momentum in our businesses, and ongoing structural improvement in the Necessities segment,” said Aloke Lohia, group CEO of IVL.

The company expects the second half of the year to be equally encouraging as it is anticipating the current market conditions to prevail. “We will continue to pursue value accretive opportunities in both our key segments to further strengthen the foundations of sustainable performance,” said Lohia.

Based on its solid H1 performance and strong second half (H2) expectations, IVL has raised its guidance for core EBITDA to increase by 75 per cent on 2017 performance to $1.75 billion in 2019. “These are exciting times at IVL, and I am confident in our ability to continue to deliver industry-leading performance,” Lohia added. (RKS)

Fibre2Fashion News Desk – India


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