Indorama Ventures PCL (OTCPK:INDOY)

Q3 2024 Indorama Ventures PCL Earnings Call Transcript

Nov 11, 2024 / 10:59 AM GMT

Release Date Price: $5.23

Transcript

Key Points

Positve

Indorama Ventures PCL (FRA:I93) achieved an adjusted EBITDA of $427 million in Q3 2024, marking a 15% increase quarter-on-quarter and a 32% increase year-on-year.
The company has made substantial progress on its asset rationalization program, resulting in fixed cost savings of $19 million this quarter, with expectations to reach $170 million annually by 2025.
Indorama Ventures PCL's diverse global business portfolio has demonstrated resilience, with stable PET and fiber volumes and a 10% year-on-year increase in Inven volumes.
The company is advancing its digital transformation, with AI-driven solutions in procurement and manufacturing excellence programs showing positive results.
Indorama Ventures PCL is preparing for IPOs of its Indovina and Indovina businesses, expected to raise a combined $1 billion, with significant progress already made in the reorganization phase.

Negative

The company reported a $38 million inventory loss in Q3 2024 due to declining crude oil and paraxylene prices.
Operating cash flow was lower in Q3 2024, impacted by net working capital outflows resulting from increased inventories and extended lead times from supply chain disruptions.
The global economic environment remains uncertain, with potential impacts from inflationary pressures, geopolitical tensions, and supply chain disruptions.
Indorama Ventures PCL's fiber segment is yet to implement asset rationalization actions, with expected savings of $40 million to flow in 2025.
The company faces challenges in the intermediate chemicals segment, with a 14% year-on-year decline in adjusted EBITDA due to weaker MTBE spreads and higher feedstock costs.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

IVL.BK - Indorama Ventures PCL
Q3 2024 Indorama Ventures PCL Earnings Call
Nov 11, 2024 / NTS GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon, welcome. And thank you for taking time to join us for intera ventures third quarters, 24 results briefing. My name is Vikas Jalan Vice President Industrialization Planning at GL joining me today we have Mr Dial, Deputy Group CEO and Group CFO Muthu Kumar and Kumar Radha Presidents and coleaders for CPRE Alistair and Po executive President for Indovina and Diego Rori executive President for Fibers segment.

Quick disclaimer that this meeting is being recorded and every play of this session will be available on our website after the meeting.

Of course, we have made a few assumptions and estimates on future trends for our industry and business, which are based on analysis of available information at this

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