Indorama Ventures’ revenue grew 65% to a record $18.7 billion in FY2022
Indorama Ventures Public Company Limited (IVL), a global sustainable chemical producer, 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.
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,” 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.
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.”
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