Moscow – Sibur Holding’s elastomers unit has reported growth in sales over the first three months of the year, due mainly to a global recovery.
The unit, part of Sibur’s Plastics, Elastomers & Intermediates division, posted a 24.3% increase in year-on-year sales to Rub12.4 billion (€137 million), Sibur announced 29 April.
The unit represents 30% of the PE&I division’s total revenue.
The division, which also includes other products such as plastics, intermediates and MTBE saw adjusted EBITDA (earnings) increase 442% year-on-year to Rub11.5 billion.
Sibur linked the growth in earnings above all to positive dynamics in prices for elastomers, MEG and EPS in the first quarter and despite an increase in feedstock prices for these products.
The segment’s EBITDA margin increased by 4.2 percentage points to 26.4% quarter-on-quarter, due mainly to an increase in product margins.