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Indorama Ventures Public Company (IVL) investor relations material
Indorama Ventures Public Company Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 was marked by industry headwinds including overcapacity, weak demand, and margin pressure, especially in Europe and downstream sectors like automotive and construction.
Management executed significant asset rationalization, cost reduction, and digital transformation initiatives to enhance efficiency and resilience.
Sales volume declined 3% QoQ and 9% YoY to 3.22 MT, impacted by outages and asset optimization.
Strategic focus on operational excellence, working capital management, and selective investments in sustainability and recycling.
Net profit was negative THB 818M, with adjusted net profit down 70% QoQ and 94% YoY.
Financial highlights
Revenue for Q3 2025 was $3.39B, down 4% QoQ and 14% YoY.
Adjusted EBITDA was $279M, down 15% QoQ and 35% YoY.
Operating cash flow for the first nine months was $985M, with an EBITDA conversion of 121%.
Net debt reduced from $7.18B to $6.79B, and further to $4.37B in 9M25.
Fixed costs reduced by nearly $130M year-on-year, with $126M in completed cost savings.
Outlook and guidance
Industry turbulence expected to persist due to geopolitical uncertainty, overcapacity, and weak demand, especially in Europe.
Management anticipates industry consolidation, regulatory intervention, and partnerships over the next 12–24 months.
2026–2028 business plan to be presented at the next capital market day in March 2026.
U.S. PET tariffs and Brazilian import duties expected to benefit margins in 2026.
Anticipated improvement in the Essentials segment in 2026 due to competitor plant closures.
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