Sibur elastomers sales increase 70%

Moscow – Sibur Holding has seen a strong increase in elastomer sales in the third quarter of the year, helped by recovery in global demand.

Sales were up 69% year-on-year at Rub15.1 billion (€180 million), Sibur reported 28 Oct.

The elastomers business is part of Sibur’s plastics, elastomers and intermediates segment, which reported a 330% rise in earnings to Rub14.7 billion on 74% higher total revenue of Rub61 billion.

The elastomers unit contributed 27% to overall segment sales, according to Sibur.  

The Russian petrochemicals group said the segment’s external revenue increased mainly due to favourable pricing dynamics across all product groups and global demand recovery compared to 2020.

Earnings, it added, increased more than fourfold due to higher product margins resulting from the positive dynamics in international benchmarks