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IVL achieves USD1.7 billion in sales in Q2 2012

August 16/2012

(ivl) -- Indorama Ventures Public Company Limited (IVL), the world"s leading vertically integrated Polyester Value Chain producer, achieved consolidated sales of USD1,741 million in the second quarter of 2012 (Q2/2012) and a core EBITDA of USD151 million and core net profit after tax and minority of USD 54 million.

This strong result under current economic conditions was driven partially by volume growth of 13% over Q1 2012, from 1.19 million tons to 1.35 million tons, which has translated into 80% growth of the core EBITDA and 227% growth in core Earning Per Share (EPS).

The recent acquisition of Old World, now renamed Indorama Ventures (Oxide & Glycols) in North America in April 2012 has added a new line of business to IVL and has enabled the group to integrate into MEG (a major feedstock for making Polyester products) for the first time, making IVL the only global polyester producer with integration into both PTA and MEG.

With the acquisition, IVL also gained about 30% market share of merchant PEO (Purified Ethylene Oxide) in North America. Indorama Ventures (Oxide and Glycols) Limited has been incorporated for the first time in IVL in Q2/2012 and is one of the key drivers of earnings growth in the period.

IVL achieved a Core EBITDA per ton of USD 112 in Q2/2012 compared with USD 71 in Q1/2012. The segment EBITDA increased across all platforms with the addition of new businesses. Regionally, North America remained the top performer while Europe was slightly weaker but not significantly so.

IVL net operating debt to equity is 1.1 times in Q2/2012 following the acquisition of Indorama Ventures (Oxide and Glycols) Limited in April 2012, which is higher than the 0.6 times at the end of year 2011.


mrcplast.com
Author:Anna Larionova
Tags:MEG, terephthalic acid, ethylene, Indorama Polymers.
Category:General News
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