Indorama Ventures Public Company Limited Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 14, 2023 at 01:00 am EST
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Indorama Ventures Public Company Limited reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was THB 139,846.67 million compared to THB 181,283.37 million a year ago. Net income was THB 195.46 million compared to THB 8,137.08 million a year ago.
For the nine months, revenue was THB 416,302.06 million compared to THB 520,310.58 million a year ago. Net income was THB 1,629.99 million compared to THB 42,484.87 million a year ago. Basic earnings per share from continuing operations was THB 0.19 compared to THB 7.47 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.