Indorama Ventures registered a volume growth of 18 per cent in 2019. Core ebitda fell 20 per cent. Operating cash flow in 2019 increased by 33 per cent.
The company has undertaken several transformative initiatives that are expected to generate benefits starting in 2020 and targeted to lead to run rate cost savings by 2023. Key strategic priorities for the group are expansion in India; formation of a dedicated team to grow the PET recycling business; and a continued focus on working capital optimization coupled with an increased emphasis on leadership development.
Indorama Ventures is a chemical producer. It continues to build durable competitive advantages through its diversified portfolio, supported by a responsible approach to sustainable business, people and the environment, creating value for society and for customers. It has a global reach, with around 80 per cent of capital invested in Europe and America. The business model is resilient to events happening in any particular country or region. Indorama has strong growth engines. One is the combined PET segment, which includes its key feedstocks and recycling business. Another is the integrated oxides and derivatives segment. And there is the fibers segment, which serves the mobility, hygiene and lifestyle verticals.