Sibur rubber revenue soars 34%

Moscow – Sibur has posted a 12.0% year-on-year increase in revenues for its Plastics, Elastomers & Intermediates segment during the first nine months of the year at RR110.1 billion, largely due to “highly favourable market environment” for elastomers in the first half of 2017.

Sales of elastomers rose 7.7% for the first nine months of the year at RR361 million while plastics and organic synthesis products posted a decline of 0.9% at RR583 million.

For the period, synthetic rubber sales grew 34.4% to RR39.7 billion, with domestic consumption up 41% at RR14.4 billion and exports up 30.5% at RR25.3 billion.

All three segments of commodity rubbers, speciality rubbers and thermoplastic elastomers saw double-digit growth in sales during the first nine months of the year, with highest commodity rubbers posting highest sales and growth in sales.

In terms of volumes, Sibur posted an 8.7% growth in production at 358.6 kilotoones during the nine months to end of September.

Sibur did not disclose operating profit figures for the period.

For the first half, the Russian company said earnings (EBITDA) at its Plastics, Elastomers & Intermediates segment in the first six months inched up 0.6% year-on-year.