Thailand’s Indorama Ventures announces financial results for Q1
by ChemOrbis Editorial Team - content@chemorbis.com
Thailand-based petrochemical producer Indorama Ventures reported consolidated revenue of $3.8 billion in the first quarter of 2024, up by 6% from the previous quarter’s $3.6 billion. Meanwhile, consolidated revenue declined by 5% from the same quarter last year.
The company’s adjusted EBITDA was $366 million, which increased by 32% from the previous quarter but declined by 2% from Q1 2023.
The company’s sales volume was up by 3% from Q4 2023 as demand showed signs of a gradual recovery across all sectors, partially offset by a winter freeze in the U.S.
The combined PET (CPET) segment’s adjusted EBITDA was $249 million in the first quarter, which increased by 34% quarter-over-quarter and 4% year-over-year.
The company’s adjusted EBITDA was $366 million, which increased by 32% from the previous quarter but declined by 2% from Q1 2023.
The company’s sales volume was up by 3% from Q4 2023 as demand showed signs of a gradual recovery across all sectors, partially offset by a winter freeze in the U.S.
The combined PET (CPET) segment’s adjusted EBITDA was $249 million in the first quarter, which increased by 34% quarter-over-quarter and 4% year-over-year.
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