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Sibur reports big increase in first-quarter results, new PP plant contributes

2:42 AM MDT | June 10, 2014 | Natasha Alperowicz

Sibur (Moscow), Russia’s largest petrochemicals producer, today reported a 263% increase in first-quarter profit, to 56.8 billion Russian rubles ($1.65 billion), on 21% higher revenues, net of value-added tax and export duties, of R80 billion. Ebitda was 10% higher, at R22.6 billion, but Ebitda margin was down from 31% in the first quartet of 2013 to 28.2% in the corresponding period of this year.   For Sibur’s major segment, energy products, revenues were 42.4% higher, R49.6 billion, with petrochemicals flat, at R28.2 billion. Sibur during the...

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