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Sibur posts lower sales and earnings on weak synthetic rubber business

11:50 AM MDT | March 18, 2014 | Ian Young

Sibur (Moscow) reports a 15.2% decrease in adjusted net profit for 2013, to 50.9 billion rubles, on revenue down 0.6%, to R269.8 billion. Petrochemical products accounted for R116 billion of the revenue figure, down 8.2%. Sibur's group Ebitda declined 4.2% in 2013, to R78.9 billion. Fourth-quarter figures have not been disclosed. "The company increased revenue from sales of plastics and organic synthesis products that was attributable to the commercial launch of new production facilities and target acquisitions in 2012," Sibur says. "This was fully...

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