Indorama Ventures Public Company (IVL), the world’s largest polyester value chain company, saw an improvement in its business in the third quarter of 2013, with revenue climbing by 11 per cent to $1.9 billion from $1.7 billion in Q3 of 2012. The company experienced its highest EBITDA of the past eight quarters, up 23 per cent over the last quarter to $131 million. In line with EBITDA growth, IVL achieved a net profit after tax and minorities of $35 million in Q3, versus $7 million in Q2 2013. A modest recovery of prices led to an inventory gain of $8 million. 

The company’s core businesses are Polyethylene Terephthalate (PET), which reported an EBITDA of $67 million in Q3 2013 while the fibres and yarns segment reported EBITDA of $18 million. Feedstock, consisting of PTA and MEG, reported EBITDA of $47 million, a recovery of both volumes and earnings after the successful change of catalyst at the company’s Oxide & Glycols site in Houston, Texas. 

“As a global company with a strong portfolio of assets, Indorama Ventures’ strategy has been to diversify risk geographically and therefore regional results provide an important overview of how the moving parts of the business are performing,” says Aloke Lohia, Group CEO of Indorama Ventures Public Company