Thailand firm IVL maintains positive outlook despite supply chain woes

10 Nov '21

2 min read

Pic: Indorama Ventures Limited

Indorama Ventures Public Company Limited (IVL), a global chemical producer, has reported a 50 per cent revenue growth to $3.9 billion in the third quarter (Q3) of FY21 compared to the corresponding quarter of previous fiscal. The company has maintained its positive outlook for FY21 and next fiscal as well, noting caution as headwinds including higher energy prices and supply chain disruptions weigh against resurgent consumer demand.

“The recovery in major economies from the pandemic has benefited us through the year, and we expect strong demand for our products to continue into next year. However, the recovery is uneven as some nations in Asia are slower to reopen, and resurgent consumer demand is being met with higher energy prices and supply chain disruptions,” D K Agarwal, CEO of Indorama Ventures, said in a press release.

“Our business model of integrated and regional supply across a diversified geographical and product base is proving its robustness. Building sustainability across all our businesses is a key focus as our colleagues work tirelessly towards a future ready organisation,” Agarwal added.

The company’s EBITDA (earnings before interest, taxes, depreciation, and amortisation) during the three-month period surged 99 per cent to $478 million (Q3 FY20: $240 million). Moreover, production volumes reached 3.73 million metric tons, a record, as the global recovery drove consumer demand for IVL’s products, according to the company.

Fibre2Fashion News Desk (JL)

More Textiles News - Thailand...