Home / Knowledge / News / Textiles / IVL 2017 revenue up 17% y-o-y to $8,438 million
IVL 2017 revenue up 17% y-o-y to $8,438 million
21
Feb '18
Courtesy: Indorama Ventures
Courtesy: Indorama Ventures
Indorama Ventures Public Company Limited (IVL) has reported revenue of $8,438 million for full year of fiscal 2017, an increase of 17 per cent year-on-year, led by ongoing strong growth in all business segments. Revenues for the PET segment increased at 12 per cent with fibers at 15 per cent, while the feedstock segment grew by 28 per cent.

"The on-going restructuring by two of the leading PET producers in key markets of Americas and EMEA in the second half of 2017 has resulted in a structural change in the business outlook of PET, and is an opportunity for well-managed and committed producers like IVL to align supply reliability to customers. We believe that our regional manufacturing business model helps secure strategic alliances and helps take our innovative platform global," IVL said in a press release.

The company's core EBITDA was up 30 per cent, while production grew by 4 per cent reflective of a 3 dimensional improvement of product and geographic mix and the overall quality of earnings. In 2017, IVL had accretive ROE at 16.5 per cent, a strong surge over the 12.5 per cent in 2016. Operating cash flow rose 24 per cent to $918 million. Core net profit after tax and NCI has grown by 68 per cent year-on-year to $459 million. Audited net profit was $615 million partially boosted by US tax reforms.

"2017 has been a momentous year for Indorama Venture in more ways than one. The company surpassed several milestones in its journey towards its stated vision of becoming a world-class chemical company making great products for society. The power of our growth strategy and diversified portfolio of products and geographies is clearly reflected in our results. We surpassed EBITDA of $1 billion for the first time in the company’s history and these results are a testimony to the diversified 15,000 talented people operating our businesses," Aloke Lohia, group CEO said.

The company continued to make progress on its HVA platform in 2017 by acquiring new businesses with high growth potential. The acquisition of Glanzstoff, Europe’s leading tire cord and single-end cord manufacturer, alleviated and broadened the HVA portfolio mix beyond Polyester, Polypropylene and Nylon 6.6 into Rayon. The company completed the acquisition of DuraFiber in Mexico and France, a leading producer of durable technical textiles for industrial, tire reinforcement, and specialty applications globally. The company’s HVA portfolio forms a new growth engine with the addition of tire cord fabrics in North America and Europe, enlarging and making global Indorama Ventures as a fiber partner to the automotive industry.

"This has been a transformational journey and the company has put in place the building blocks to ensure sustainable and profitable growth that we are uniquely positioned to capture. In 2017, we had our maiden listing in the Dow Jones Sustainability Index as the 5th most global chemical company. We have raised the bar and the challenge for us now is to continue to do so going forward. This is a very exhilarating time for us, and we could not be more excited about our future and the journey ahead," Lohia concluded. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Azerbaijan's Gilan Textile Park raises exports by 40%

Apparel/Garments | On 18th Aug 2018

Azerbaijan's Gilan Textile Park raises exports by 40%

Azerbaijan's Gilan Textile Park has raised its exports by 40 per cent ...

CPD studies living cost of Bangladesh RMG workers

Apparel/Garments | On 18th Aug 2018

CPD studies living cost of Bangladesh RMG workers

The living cost of readymade garment (RMG) workers in Bangladesh...

Brazilian cotton price index returns to April 2018 level

Textiles | On 18th Aug 2018

Brazilian cotton price index returns to April 2018 level

Cotton prices dropped in Brazil in the first fortnight of August as...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Manuele Baggini

Comec Italia Srl is a world leader in the production of printing machines. ...

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Sham Shah

Shamal and Shamal Pvt Ltd is into manufacturing and sales of textile...

Johan Berlin
InvestKonsult Sweden AB

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Johan Berlin
Investkonsult Sweden AB

Investkonsult Sweden AB are consultants in the nonwoven and absorbent...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

Leave your Comments


August 2018

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

news category


Related Categories:

Advanced Search