IVL’s Profit in 2019 Plunges 80% to ฿5.2bn as Overseas Businesses Record Lower Revenue!
IVL’s Profit in 2019 Plunges 80% to ฿5.2bn as Overseas Businesses Record Lower Revenue, Offering a Dividend ayment at ฿0.175/share.
Indorama Ventures Public Company Limited (IVL) has reported its yearly consolidated financial statement of 2019 through the Stock Exchange of Thailand as follows;
IVL recorded a net profit in 2019 at 5,252 million baht, decreased 80.15% from a net profit of 26,465 million baht in 2018. The decrease was mainly due to the higher selling and administrative expenses by 20% from 27,738 million baht in 2018 to 33,225 million baht in 2019.
The company also recorded a loss of 296 million baht from foreign exchange when compared to a gain of 586 million baht in 2018. Moreover, IVL reported a plummet of 64% in operating income, which plunged from 32,860 million baht in 2018 to 11,879 million baht in 2019.
In 2019, IVL reported a net loss of 4% in PET business (from USD 588 million to USD 563 million), 42% in Feedstock (from USD 613 million to USD 354 million), 5% from Integrated PET (from USD 791 million to USD 754 million), 68% in Integrated Oxides and Derivatives (from USD 232 million to USD 75 million) and 74% in Specialty Chemicals (from USD 158 million to USD 40 million).
In addition, the Board of Directors of IVL has approved a resolution for a dividend payment to be paid on May 20, 2020, at a value of ฿0.175/share with an ex-dividend date on April 30, 2020.