IVL Records 18% Increase in 2022 Earnings and Issues THB0.40 Dividend Payout

Indorama Ventures Public Company Limited (SET: IVL) announced its 2022 consolidated financial statement through the Stock Exchange of Thailand as follows;

Year 2022 2021
Net Profit (Loss)
Million Baht
31,006.08 26,288.03
Earning Per Share
5.3900 4.5500
% Change 17.95

IVL reported a net profit of THB 31,006 million in 2022, increased 18% from a net profit of THB 26,288 million in 2021.

In 2022, the company recorded a revenue of US$ 18.7 billion, up 28% YoY, and recorded Core EBITDA of US$ 2.3 billion, up 31% YoY. IVL’s full year results benefited primarily from high crude oil price and higher import parity due to inflated ocean freight rates.

IVL noted that 4Q22 had a core net profit of THB 411 million which excluded impairment of assets and other related provision of THB 9.12 billion, inventory loss net of tax for THB 3.51 billion, extraordinary tax income of THB 1.60 billion and other extra expenses of THB 0.86 billion. These extra items led to a reported net loss of THB 11.48 billion in 4Q22.

Total expense for the fourth quarter was US$4,319 million, which was higher than its total income of US$ 3,966 million.