Alpek,, a leading petrochemical company in the Americas, announced record-high quarterly comparable EBITDA of U.S. $300 million for 4Q2021, mainly from rising Polyester margins its fourth quarter 2021 results (4Q21). Volume remained high at 1.2 million tons during 4Q, matching record annual levels of 4.8 million tons. The company record FY2021 comparable EBITDA of U.S. $962 million, from strong volume and record margins for key products.

Commenting on the result, José de Jesús Valdez, Chief Executive Officer, Alpek, said:  “I am proud to report that Alpek has ended the year on an outstanding note  posting its highest ever quarterly Comparable EBITDA, achieved through records in both the Polyester and Plastics & Chemicals segments. Strong 4Q performance also helped the Company achieve its best year ever, matching or setting annual records for Revenues, Volume, Reported and Comparable EBITDA, and Leverage.

Throughout the fourth quarter and all of 2021, Alpek was able to successfully capitalize on diverse opportunities created by a highly favorable business environment, where increased demand for petrochemical products was combined with tighter global supply. Results during 4Q21 were particularly favored by reference Polyester margins, which increased sharply as power rationing in China resulted in reduced global PET supply.

Alpek also made progress in its long-term growth and ESG strategies. In 4Q21, the company optimized its footprint by ramping down its Caprolactam and Staple Fibers operations in Mexico and Cooper River, USA, respectively. Both businesses faced extended periods of high raw material costs and marginal financial results.  Moreover, their closure willsignificantly lower Alpek’s CO2 emissions in 2022, helping the Company close the gap towards its 2030 goals.”