Indorama Ventures revenues rise 11% to $6.8 billion in 2012; IVL projects 19% growth in 2013
BANGKOK, THAILAND, February 22, 2013-
Indorama Ventures Public Company Limited (IVL), the world's leading vertically integrated Polyester Value Chain producer, saw revenues rise by US$ 678 m to US$ 6.78 billion in 2012. The general sentiments for commodity Polyester value chain was weak, however, operational excellence improvements, a Brownfield PET capacity addition at Rotterdam, the acquisition of FiberVisions' global hygiene business as well as the addition of the Indorama Ventures (Oxide and Glycols) business in North America, have potentially offset the weak Polyester chain margins in Asia.
The 2012 consolidated reported EBITDA is US$ 453 million, consolidated net profit after tax and minority of US$ 148 million, consolidated operating cash flow of US$ 471 million and consolidated return on average net operating capital employed of 7%. Consolidated EBITDA declined by 19% from continuing oversupply of PTA in Asia that has weakened spreads across the value chain.
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