23 February 2016
DETAILS
Indorama Ventures Public Company Limited (IVL),
a world-leading producer of intermediate petrochemicals,
announced its full year results for 2015.
Total production rose 12% in 2015, to 7 million tonnes
compared to 6.2 million tonnes in 2014 and
with operational excellence initiatives
the Core PAT was higher at Baht 6.5 billion,
an increase of 33% year on year.
High Value Add (HVA) products
are now contributing 48% of core EBITDA
(adjusted for non-cash extraordinary items)
and have proven to be a valuable investment
that offers significant potential in areas involving
environmental awareness, performance, health and safety.
The Company achieved
total revenue of THB 236 billion for the full year,
compared with revenue of THB 244 billion in 2014.
The slightly lower revenue occurred due to
lower absolute product prices following the lower crude trend.
The Reported PAT for 2015 is Baht 6.6 billion,
a 295% rise over the THB 1.6 billion
in the same period of 2014.
IVL saw a non-cash inventory devaluation of Baht 2.3 billion
(tax adjusted) as a result of a rapid fall in prices
that was offset by net extraordinary income of Baht 2.4 billion
primarily coming from gains on bargain purchase
on completed acquisitions.
The Company recommended
a full year dividend of THB 0.48 based
on core earnings per share of THB 1.17.
The company completed six acquisitions in 2015,
with an additional two acquisition agreements
expected to be closed in the second quarter of 2016.
WWW.CHEMWINFO.COM BY KHUN PHICHAI
