(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
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.