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Indorama Ventures net profit up 109 per cent

For the half year Indorama Ventures’ net profit rose 109 per cent higher year on year. Revenue rose 22 per cent higher year on year. The company delivered record performance, with improvements in production volumes and margins across all key segments and geographies.

IVL’s strategy to drive sustainable and profitable growth in both high-volume necessities and the stable but high margin and high value-added HVA business continues. The company further upgraded its portfolio through organic growth, operational excellence initiatives, value accretive acquisitions and strategic integrations.

Chemical producer IVL now operates on a global scale of an integrated polyester value chain and HVA platform, with a more resilient product and geographic mix. Investments continue to drive value-accretive growth with six acquisitions since March 2018, including PET plants in Brazil and Egypt, which have an added net PET capacity of 1.1 million tons.

Industry fundamentals continue to be positive, led by strong demand growth for 100 per cent recyclable PET, supply balance and on-going improvements seen in the PET industry. This creates opportunity for well-managed and committed producers to enable supply reliability to customers in tight market conditions.

For Q2 the company will continue to pursue value accretive opportunities in its key segments to further strengthen the foundations of sustainable performance.