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Indorama Ventures posts Q2 financial results

by ChemOrbis Editorial Team - content@chemorbis.com
  • 10/08/2015 (13:33)
Indorama Ventures announced its financial and production results for the second quarter of 2015, according to a press release on the company’s website. The company’s net sales dropped 4% from a year earlier to THB61.2 billion ($1.7 billion) in the second quarter of 2015 while total revenue was also down 4% year over year to be recorded at THB61.7 billion ($1.8 billion). On the other hand, the company’s earnings before interest, taxes, depreciation and amortization (EBITDA) reached THB7.2 billion ($204.9 million) in the April-June period, up 44% on the year. The company’s operating income also increased by 44% on a yearly basis to THB7.2 billion ($204.9 million).

Indorama’s total production reached 1.8 million tons in this quarter, up 9% from a year earlier. PET sales dropped to THB34.6 billion ($984.4 million), down from THB38.6 billion ($1.1 billion) a year earlier while feedstock sales were down slightly from THB16.5 billion ($469.5 million) a year earlier to THB16.1 billion ($458.1 million) in the April-June period of the current year. Sales of fibers & yarns, meanwhile, posted a slight increase to THB18.6 billion ($529.2 million) in the second quarter, up from THB18.3 billion ($520.7 million) a year earlier.
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