Czech Unipetrol announces financial results for Q3
The company recorded a net profit of CZK1.5 billion ($69 million) during the quarter, up 111% from CZK722 million ($33 million) in the same period of last year. The immense growth was mainly attributed to the recently restarted 544,000 ton/year steam cracker located in Litvinov, Czech Republic.
Unipetrol’s revenues also increased by %34 on a yearly basis to CZK31 billion ($1.42 billion) in the July-September period while the company’s EBITDA (earnings before interest taxes depreciation and amortization) was up by 77% to reach CZK3.4 billion ($156 million).
Looking at the operational highlights in the company’s financial results report, Unipetrol’s sales volumes of petrochemical products surged by 113% to 525,000 ton/year in while sales volumes of refinery products also grew by 12% to 1.8 million tons year on year.
The sales of monomers were reported at 100,000 tons thanks to the restored operations, with the cracker currently running at 85% capacity. PE sales were up by 196% to 74,000 tons in Q3 while PP sales were up more considerably by 234% to 72,000 tons in the same period.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Major LDPE markets touch multi-year highs on growing tightness
- A prospect for Q4 through uncharted waters of 2020 amid pandemic
- China's import PP markets maintain uptrend under shadow of oil-driven losses in Dalian futures
- Weaker domestic demand prompts Vietnam to export polymers
- European PP market ceases upward trend in September
- Force majeure declarations rock the boat in Turkish PVC market
- China’s PE uptrend fueled by US force majeures; LDPE soars to more than 1-year high
- Stats: China’s cumulative PP imports in Jan-July 2020 reach record-high
- Sept PP, PE trend begins to take shape in Saudi Arabia
- Sept expectations voiced in Europe; ABS draws rosier picture than PS