FRIDAY, March 29, 2024
nationthailand

IVL enjoys 18% growth in 2019, dividend on the way

IVL enjoys 18% growth in 2019, dividend on the way

Indorama Ventures Public Company Limited (IVL), a global chemical producer, on Wednesday (February 26) reported an 18-per-cent jump in ‬registered‭ ‬volume‭‬‭ ‬growth in 2019, driven mainly‭ ‬by‭ ‬ ‭ ‬inorganic expansion. Industry-wide spreads declined to historic lows in 2019, leading to a 20-per-cent reduction in IVL’s core EBITDA.

Operating cash flow through this period increased by 33 per cent, to US$1.3 billion, as a result of lower prices and operational excellence. 
IVL has proposed a dividend of Bt1.225 per share for 2019.
IVL concurrently undertook several transformative initiatives that were announced on February 4 at its Capital Market Day and are expected to generate benefits starting in 2020 and targeted to lead to $350 million in run-rate cost savings by 2023. 
These initiatives and the strategic acquisition of the Huntsman Integrated Ethylene and Propylene Oxide assets (codenamed Spindletop), footprint expansion into a growing market in India, formation‭ ‬ ‭of‭ ‬a ‬dedicated‭ ‬team‭ ‬to ‬grow ‬the PET‭ recycling‭ ‬business, continued‭ focus‭ on‭ ‬working‭-‬capital optimisation coupled with an increased emphasis on leadership development are the key strategic priorities for the group.
“IVL‭ ‬now has‭ ‬three strong growth engines to‬ generate continued returns for its stakeholders,” said ‬Group chief executive ‬Aloke‭ ‬Lohia. 
“The first is the ‭combined PET‬ segment, which includes its key feedstocks and recycling business, the integrated oxides and derivatives‬ segment, which includes the recent acquisition of the Spindletop assets, the completed IVOL gas cracker in Louisiana, and the fibres‬ segment, which serves mobility, hygiene and lifestyle verticals.
“Our ‬global reach, ‬with around ‬80 per cent of capital ‭ ‬invested in Europe and‭ the Americas, makes our business‭ resilient to events happening in any particular country or region. On the other hand, our end-product strategy of serving the packaging, hygiene and safety needs of society, leads to our growth in excess of GDP growth. 
“Going forward, we will reinforce our strengths via five strategic priorities – cost transformation, asset full potential, adjacency growth, recycling leadership and leadership development.”

TAGS
nationthailand