Post by account_disabled on Dec 10, 2023 11:07:05 GMT
a leading global chemical manufacturer A global business that conducts business sustainably, reports stable third quarter operating results from the management Company's share Give importance to receiving Maintain cash flow and increase racing abilities activities to stimulate operational results Workers in the chemical industry that remains weak worldwide Indorama Ventures posted EBITDA of $ 324 million in Q3 2023 , up 1 percent quarter-on-quarter . and decreased by 37 percent year-on-year. affected by the environment weak economic situation geopolitical conflicts and stagnation in the world market. sales continued after the epidemic.
Sales volume decreased 5 percent from last year to 3.6 million tons due to the recovery of China. After the epidemic situation The outbreak lasted longer than expected, including the extension of the period for releasing stocks. in the manufacturing and industrial sectors The chemical industry is still improving. Return to normal from the level that This has never happened before in Email Data the past year . The management team still gives importance to maintaining cash flow Realize the development of effectiveness and increase operational efficiency workers in the company's production base to increase profits These efforts resulted in Positive operating cash flow was $ 410 million in the quarter, with positive free cash flow of $ 79 million year- to-date and sufficient to reduce capital expenditures.
The Company will maintain its credit rating at AA- with a stable credit outlook. From TRIS Rating this quarter The company expects that the operating environment The business will improve in 2024 with the situation of releasing product stocks. Customers' opinions have improved steadily. in all three business groups Indorama Ventures also accelerates the expansion projects of the PET business group and Fibers business group in India and the United States. It will result in an increase in sales volume in 2024 as well. The Combined PET business segment had EBITDA of US$ 146 million, down 25 % quarter-on-quarter.
Sales volume decreased 5 percent from last year to 3.6 million tons due to the recovery of China. After the epidemic situation The outbreak lasted longer than expected, including the extension of the period for releasing stocks. in the manufacturing and industrial sectors The chemical industry is still improving. Return to normal from the level that This has never happened before in Email Data the past year . The management team still gives importance to maintaining cash flow Realize the development of effectiveness and increase operational efficiency workers in the company's production base to increase profits These efforts resulted in Positive operating cash flow was $ 410 million in the quarter, with positive free cash flow of $ 79 million year- to-date and sufficient to reduce capital expenditures.
The Company will maintain its credit rating at AA- with a stable credit outlook. From TRIS Rating this quarter The company expects that the operating environment The business will improve in 2024 with the situation of releasing product stocks. Customers' opinions have improved steadily. in all three business groups Indorama Ventures also accelerates the expansion projects of the PET business group and Fibers business group in India and the United States. It will result in an increase in sales volume in 2024 as well. The Combined PET business segment had EBITDA of US$ 146 million, down 25 % quarter-on-quarter.