Sales volumes rose by 7.6 percent to 228,600 tonnes, which the Russian petrochemicals company said was largely driven by the completion of thermoplastic elastomers homologation with key clients.
The 13-percent revenue increase to RR 19.7 billion (€270 million), said Sibur, was mainly attributable to the increased sales volumes.
Among its key clients are Gazprom neft BM, Technonikol, Polyplastic, as well as Rosneft and RusPlast, the company confirmed in a statement to ERJ.
“In 2015 we finalised the homologation with key clients and that is why we increased the sales of this product,” said the Sibur statement.
The company, it said, finished “premarketing” the product and ending its discounts.
In addition to that, Sibur increased its effective average selling price which supported by the rouble depreciation led to revenue hikes.
Earlier this year, Sibur announced that prices for its commodity and speciality rubbers came under increased pressure due to higher market competition.
On a better note, the Russian firm reported improved average selling prices for thermoplastic elastomers, in line with a more positive supply/demand balance in that market.
Sibur launched its TPE business in Voronezh in 2013.
The materials are mostly used in production of polymer-modified asphalt cements, as well as roofing, and different compounds.
The company has also set up a technical service centre at Voronezh where it tests its TPEs in different products.