Event Calendar Press Releases Thursday November 29, 2018 12:24
Bangkok--29 Nov--Indorama Ventures

IVL announced solid earnings results for the first nine months of 2018 at USD 7.95 billion. This achievement was the result of our decision to diversify our product portfolio and to strengthen our polyester value chain and HVA business. IVL's global expansion continued over the period with acquisitions in the United States, Brazil, Egypt, Portugal, Israel and the Czech Republic. Continued demand for chemicals points to a rosy business outlook for 2019.

Mr. Aloke Lohia, Group CEO of Indorama Ventures PCL (IVL), said, "IVL is strongly suited for today's business environment with operations in 30 countries globally, largely addressing their domestic markets, and should remain fairly immune to the ups and downs of international trade. We are well-positioned to benefit from margin and volume expansion in 2018 and 2019 due to this unique, global portfolio of assets across the value chain."

IVL recently added 1.1 million tons of PET capacity with the acquisitions of plants in Brazil and Egypt, and another 1.1 million tons of PTA capacity with acquisitions in the Netherlands and Portugal. Our HVA portfolio has further been strengthened with the acquisitions of the Czech Republic's Kordarna and Israel's Avgol Industries in the automotive segment and hygiene respectively. These will contribute to full-year earnings in 2019.

IVL foresees a positive outlook in 2019 due to continued demand for chemicals and economic expansion in many countries. The complex in Corpus Christi is expected to commence operations in 2020. This will be one of the world's largest and most modern integrated PTA and PET complexes, and will further support our growth as well. IVL is pleased to reaffirm its guidance for 2019, whereby core EBITDA is expected to increase to approximately USD 1.75 billion in 2019, accounting for 74% growth from 2017.

Apart from being the world's leading chemical company, IVL is prioritizing sustainable development. We were included in the Dow Jones Sustainability Index (DJSI) for the second consecutive year, which validates our commitment to corporate citizenship and how we focus on material aspects in our operations, and address social issues. Since our main business involves the manufacturing of PET, we aim to minimize PET waste to landfill and promote the efficient use of natural resources through recycling and waste processing initiatives, which reflect UN Sustainable Development Goal (SDG) 12 to promote sustainable consumption and production. We are doing so through active corporate social responsibility projects such as the RECO Young Designer Competition and other initiatives that promote environmental awareness and conservation which contribute to sustainable growth for our business. These projects also contribute to positive interactions and important awareness about efficiently using recycled PET and polyester with the participation and support of communities and related industries.

About Indorama Ventures

Listed in Thailand (Bloomberg ticker IVL.TB), Indorama Ventures Public Company Limited is one of the world's leading petrochemicals producers with a global manufacturing footprint across Africa, Asia, Europe and the Americas. Our portfolio comprises Necessities and High Value-Added (HVA) categories of Polymer

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