Indorama Ventures Public Company Limited (IVL) has unveiled its full year results for the year 2015. The company noted total revenue of THB 236 billion in 2015 as against revenue of THB 244 billion in 2014. The dip in revenue occurred due to lower absolute product prices following the lower crude trend.
As per the company release, total production at IVL surged by 12 per cent last year, to 7 million tonnes compared to 6.2 million tonnes in 2014 and with operational excellence initiatives, the Core PAT was higher at Baht 6.5 billion, an increase of 33 per cent year on year.
Also Read – Indorama Ventures to acquire BP Chemical’s Decatur Alabama business
Besides, the reported PAT for 2015 totalled at Baht 6.6 billion, up 295 per cent compared to THB 1.6 billion in the same period of 2014. IVL saw a non-cash inventory devaluation of Baht 2.3 billion (tax adjusted) as a result of a rapid decline in prices that was offset by net extraordinary income of Baht 2.4 billion primarily coming from gains on bargain purchase on completed acquisitions.
All-in-all, Indorama Ventures completed six acquisitions last year, with an additional two acquisition agreements expected to be closed in the second quarter of 2016.
Also Read – Indorama Ventures to invest US $ 35 million in Auriga Polymers
IVL is one of the world’s leading producers in the intermediate petrochemicals industry and a leading global manufacturer of wool yarns. The company is headquartered in Bangkok and started its operations in the year 1994.
