Indorama Ventures

IVL: Solid PET Performance Drove 1Q22 Profit

Equity Bottom-Up
254 Views, 13 May 2022 12:14
EXECUTIVE SUMMARY
  • IVL reported 1Q22 net profit of Bt14.1bn (+134% YoY, +161% QoQ), The result came out better than our expectation and beat the consensus by 95%.
  • Excluding onetime items, the recurring profit stood at Bt10.6bn (+175% YoY, +94% QoQ). The earnings growth was supported by record cPET performance, benefiting from tight supply demand environment.
  • The EBITDA margin also rose to a record high level of 15%, compared to 11% in 1Q21 and 4Q21.
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Pi Securities PCL, Thailand
Leading, full-service investment firm in Thailand
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Pi Securities is a well known securities company with 40 years experience in the industry, serving more than 60,000 clie... 

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