Indorama Ventures registered year-on-year revenue growth of 11 per cent in the second quarter of 2017. Core net profit was up 31 per cent year-on-year. Core ebitda grew nine per cent. Cash flow from operating activities grew by 87 per cent year-on-year.
This, despite planned turnarounds that led to a four per cent fall in production. The company has made prudent investments in higher margin businesses and in key regions and integrated into key feed stocks in balanced markets. The last 12 months saw steady to strong integrated industry margins compared to the declining trend in the previous five years.
The company is on track to complete its US Gas Cracker project and expects refurbishment to be complete by the end of 2017. Indorama Ventures is a chemical producer. The company is well-positioned for another year of solid growth. Innovative products, the positive tailwinds in volume and margin and the impact from operational excellence actions taken during the year are expected to continue contributing to earnings growth. It is confident that the continued business transformation efforts it has made, combined with scale and best-in-class assets in its portfolio, will support its journey of profitable growth, while providing shareholders the opportunity to participate in the unparalleled value creation potential of the company.
