Indorama Ventures Public Company Limited (IVL) has reported its consolidated financial statement of 4Q20 and 2020 through the Stock Exchange of Thailand as follows;
IVL reported an outstanding growth for its 4Q earnings, recording a net profit of 1,310 million baht, an increase of 244% from a net profit of 380 million baht in 3Q20 and a contrast to its net loss of 1,516 million baht in 4Q19. The net profit in 4Q20 also represented more than half of IVL yearly earnings. In 2020, IVL delivered a record sales volume of 14 08 million tons against 11 .91 million tons in 2019 (a growth of 18 overall and 5 excluding IVOX.)
However, the company’s net profit in 2020 was 2,414 million baht, decreased 54% from a net profit of 5,252 million baht in 2019. The decline in net profit in 2020 was due to IVL’s lower earnings in 2Q and 3Q during the coronavirus outbreak.
In addition, the Board of Directors of IVL approved a dividend payment of ฿0.175/share to be paid on May 20, 2021. The ex-dividend date is May 6, 2021.