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Bangkok, Thailand - 1 March 2023 - Indorama Ventures Public Company Limited (IVL), a global sustainable chemical producer, today outlined its business strategy at its 2023 Capital Markets Day in Bangkok, including enhancing competitiveness and applying a disciplined and sustainable approach to new opportunities as demand for the company’s products continues to grow globally.

Since 2019 - a three-year period that included unprecedented pandemic-related disruptions - Indorama Ventures’ revenue grew 65% to a record $18.7 billion in FY2022, while EBITDA rose 160% to $2.4 billion. The company forecast continued high demand for its diversified, global portfolio of products - more than 70% of which are used in daily consumer necessities that are resistant to economic downturns, including in packaging, clothes, tires, baby diapers, and chemicals used in shampoos.

Mr. Aloke Lohia, Indorama Ventures Group CEO, said “The company is developing and empowering the next generation of leaders with a ‘growth mindset’ as a cornerstone of a program to enhance competitiveness and create value through disciplined and sustainable growth.”

“We are, and always will be a growth company, and we are embedding this entrepreneurial mindset into the next generation of leaders who can build agile, fast, precise and innovative businesses that can deliver value in an increasingly volatile world,” Mr Lohia said.

To remain competitive, the company is constantly reviewing its diverse, global portfolio of integrated businesses to maximize use of employed capital and maintain management’s historical focus on managing costs. It is also employing new digital toolsets, such as the global rollout of SAP S/4HANA to optimize productivity and enable more agile decision-making to realize full business potential.

Mr DK Agarwal, Deputy Group CEO, said: “Indorama Ventures has undisputed leadership positions in many of our end markets, with enormous scope to expand organically and inorganically. These transformational initiatives are empowering our managers to quickly capture opportunities created by the volatile environment to grow our businesses.”

Indorama Ventures has a disciplined strategy to capitalize on its integrated platform of growth businesses through organic growth and new acquisitions that deliver on strict performance criteria. These metrics include an enhanced core EBITDA margin, a 15% return on employed capital, contribution to earnings quality, and allowing the company to maintain balance sheet discipline. Since 2020, the company has expanded in substantial new growth areas, including by developing its newest Integrated Oxides and Derivatives (IOD) segment through acquisitions such as Oxiteno in 2021 and Huntsman assets in 2020.

Mr Agarwal added “All three of our business segments - Combined PET, Fibers and IOD - are connected by polyester, which is fully circular. Our growth comes from selectively building our portfolio in diversified segments along our chosen polyester-based value chain, which means sustainability potential is innately built into our model. Our Vision 2030 is about building on our industry leadership in sustainability, including through increasing our recycling capacity, introducing more circular feedstock into our products, and building resilience throughout our business.”

Indorama Ventures’ 2023 Capital Markets Day presentation can be accessed here. Recordings of the session will soon be available in English and Thai on www.indoramaventures.com