The share price of Indorama Ventures Public Company Limited (SET: IVL) rose as much as 4.69% to THB50.25 per share, minutes after the opening bell on February 7, 2022, in anticipation of flourishing 4Q21 results. The share price slowed down to 3.65% gain as of 10:53, trading at THB49.75 per share.
FSS International Investment Advisory (FSSIA) expected IVL’s net profit to rise in 4Q21-2022 on stronger product margins and higher utilisation rates for the IOD, PET-PTA, and fibre groups, with q-q improving MTBE and MEG margins. Key potential drivers are: 1) a stronger PET-PTA margin due to China’s lower export volumes and solid demand; 2) a polyester fibre margin recovery for the automotive and lifestyle segments; and 3) the start-up of its ethane cracker in Nov-21 after the lightning strike in 2H20. FSSIA estimated IVL’s earnings in 2021 to grow 323.5% and 2022 to increase 10.6%.
