earnings im- pact from the seasonal maintenances. Figure 1: IVL Quarterly Core EBITDA (LTM) The steady improvement seen in core earnings follows on from IVL’s strategy of prudent invest- ments in the higher
(Figures 4- 7 in following pages reflect the steady growth of IVL at consolidated level although the regional levels are more cyclical). Business Outlook The doubling of PTA production in The Netherlands
capacity utilization following a steady contraction in export value. Meanwhile, public investment expanded as a result of an acceleration in disbursements by the government. Headline inflation in the second
margins corrected to LTM 2Q18 level HVA 284 271 268 • PEO, NDC, Packaging margins steady • IPA margins lowered to sustainable level • HVA Fibers margins to expand post 1H18 supply issues • Avgol, Kordarna
independent financial advisor and the Board of Directors of the Company resolved to approve the authorization of the Executive Committee of the Company to consider nominating the independent financial advisors
consideration and approval of all matters under items 2 to 4 are not approved by the Shareholders’ Meeting. 6. It was resolved to approve the authorization of either the Chief Executive Officer or the person
still uncertain until the approval obtained from the shareholders’ meeting. 2. authorization of Mr. Eugene S. Davis or Mr. Varah Sucharitakul or any person designated by Mr. Eugene S. Davis or Mr. Varah