Indorama Ventures Public Company Limited Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 11, 2023 at 02:01 am EDT
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Indorama Ventures Public Company Limited reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was THB 138,584.88 million compared to THB 190,979.1 million a year ago. Net income was THB 411.13 million compared to THB 20,277.88 million a year ago. Basic earnings per share from continuing operations was THB 0.04 compared to THB 3.58 a year ago.
For the six months, revenue was THB 276,455.39 million compared to THB 339,027.21 million a year ago. Net income was THB 1,434.53 million compared to THB 34,347.78 million a year ago. Basic earnings per share from continuing operations was THB 0.19 compared to THB 6.05 a year ago.
Indorama Ventures Public Company Limited is a Thailand-based petrochemicals producer. The Company operates through three segments: Combined PET, Indovinya and Fibers. The Combined PET segment manufactures and distributes the full polyethylene terephthalate (PET) value chain comprising Paraxylene (PX), purified terephthalic acid (PTA), PET, and Recycling (Integrated PET), Specialty PET-related chemicals, PIA, and NDC (Specialty Chemicals), PET preforms and packaging (Packaging), and Ethane to MEG and MTBE (Intermediates Chemicals). The Indovinya segment manufactures and distributes Integrated Downstream Surfactants. The Fibers segment is engaged in manufacturing and distribution of Polyester, Rayon, Nylon, Polypropylene, composites and worsted wool fibers, for three end-use segments: mobility, lifestyle, and hygiene. Its polyester and other types of fibers and yarns are used in the Automotive and Technical, Home and Apparel, and Hygiene and Medical segments.