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Hungarys TVK swings to a Q1 net loss as margins come under pressure

May 16/2012

(tvk) -- Tisza Chemical Group Public Limited Company (TVK Plc) published its results for the Q1 2012 . The operating profit achieved in the first quarter of 2012 was HUF 2.3 billion higher than in the previous quarter due to the increased production volumes and the favourable change of olefin feedstock prices and polymer product prices compared to each other.

The  unfavourable exchange rate fluctuation led to the significant deterioration of the operating profit, including the difference resulting from the re-valuation of accounts receivable and accounts payable in the previous and the actual quarter.  

Comparing the results of  Q1 2012 with the first quarter of the previous year, the operating profit declined due to the unfavourable change of the integrated petrochemical margin, the increased prices of natural gas, steam and electric energy, and the lower production and sales volumes. 

TVK uses its vertically-integrated production structure to produce raw materials for plastics processing, from a variety of hydrocarbons. The production process includes two major stages: producing monomers and polymerisation.


mrcplast.com
Author:Anna Larionova
Tags:PVC, others, TVK.
Category:General News
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