Thailand’s Indorama posts stronger results in 2014
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, Thailand’s Indorama Ventures (IVL) posted stronger financial results in 2014. The company’s core earnings for 2014 reached THB5.1 billion ($157 million), up 146% compared with the previous year while earnings after extraordinary and non-cash items rose by 12% to THB1.48 billion ($46 million) in 2014.
The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) also increased 30% year over year to reach THB19.5 billion ($599 million) in 2014 while cash from operations climbed 114% to THB22.4 billion ($688 million) in the previous year.
The company reportedly stated that even though falling crude oil prices caused a downward adjustment in the value of their inventories in the fourth quarter, this factor improved their cash flow from operations owing to the usage of less working capital.
The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) also increased 30% year over year to reach THB19.5 billion ($599 million) in 2014 while cash from operations climbed 114% to THB22.4 billion ($688 million) in the previous year.
The company reportedly stated that even though falling crude oil prices caused a downward adjustment in the value of their inventories in the fourth quarter, this factor improved their cash flow from operations owing to the usage of less working capital.
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