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Thailand’s Indorama posts stronger results in 2014

by ChemOrbis Editorial Team -
  • 24/02/2015 (11:21)
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.
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