IVL’s Acquisitions Bear Fruit, 3Q18 Profit Leaps 185% to ฿10bln.!!
A total of nine acquisitions this year help supporting IVL’s profit to grow 185% YoY.
9 พ.ย. 2561

Indorama Ventures Public Company Limited (IVL) has reported its 3Q18 consolidated financial statement through the Stock Exchange of Thailand as follows:

IVL’s 3Q18 profit was ฿10,053 million, increased 185.91% YoY from ฿3,516 million, while the 9 months profit also grew 121.61% YoY from ฿10,880 million to ฿24,110 million.
 
In the third quarter of 2018, production was 2,730 thousand tons, 14% YoY increase, driven by contribution from new and existing volumes. 3Q 2018 operating rate was 89%, down 5% from 92% in 3Q 2017, primarily due to addition of 1.8 million tons of new PTA and PET capacity as well as unplanned shutdowns across the portfolio.
The plants in Egypt and Portugal are successfully ramping up and are expected to fully contribute in the quarters to come.
 
In the PET segment, 3Q 2018 production was 1,161 thousand tons, up by 17% YoY, supported by volume contribution from Brazil (full quarter impact) and Egypt (partial quarter impact). 3Q 2018 operating rate was 89%, down 3% from 92% in 3Q 2017. However, on the same portfolio basis, excluding Brazil and Egypt, PET operating rate increased in 3Q 2018 to 95%.
In the Fibers segment, 3Q 2018 production was 408 thousand tons, up 25% YoY, with operating rates at 93%, up 12% vs 82% in 3Q 2017, driven by strong demand growth across all regions as well as volume impact from Avgol, Durafiber, Performance Fibers and Sorepla, partly offset by force majeure by a raw material supplier in Europe.
In the Feedstock segment, 3Q 2018 production was 1,1161 thousand tons, up 8% YoY, with operating rates at 83%, down 12% from 95% in 3Q 2017, primarily due to 12 days unplanned outage at EOEG plant and addition of Artlant PTA (ramping up).
 
Moreover, IVL had made 9 acquisitions so far in the international markets.