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Russia’s SIBUR announces financial results for H1

by ChemOrbis Editorial Team - content@chemorbis.com
  • 16/08/2017 (17:16)
Russia’s SIBUR announced its financial results for the first six months of 2017 in a company statement dated August 15, 2017.

The company’s net profit increased 4% on a year over year basis to reach 65.8 billion Russian rubles ($1.1 billion) in the first half of the year. Stronger net profit was attributed to higher operating profit as well as lower foreign exchange gains.

SIBUR’s EBITDA (earnings before interest taxes depreciation and amortization) was up by 15% on the year to 75.2 billion Russian rubles ($1.2 billion) in the January-June period while the company’s revenue increased 8.1% over the same period.

Looking at the operational highlights in the company’s financial results report, SIBUR’s sales volumes of PP increased 7.7% on the year to reach 278,000 tons in line with an increase in its capacity utilization rate. As for PE, the company’s sales volumes were also up by 16.7% on the year to 132,000 tons in the first half of the year.
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