higher margins with production remaining steady  Strong improvement in the North American business with Core EBITDA per ton of $145 vs $121 in 1Q LTM 2017 and the EMEA business with 1Q 2018 LTM Core

by rising of its output while demand of crude palm kernel oil for edible oils and oleo chemicals was not growing that much. Natural fatty alcohols in 2Q/2019 has shown steady demand compared to 2Q/2018

increase in minimum wages, local SME projects and agricultural business reform, to support the low-income group. Overall, the Thai economy is on course for a steady year of growth, according to the Bank of

stimulate government and state-owned enterprises’ spending. Overall, the Thai economy is on course for a steady year of growth, according to the Bank of Thailand, with its GDP growth in 2018 revised up to 4.4

us to continue to sell at all times and create a steady stream of operating cash flows. 1Q 2020 Summary Financials Table 1: Core Financials of Consolidated Business $million (except where stated

impact was mitigated by economic stimulus and a steady influx of tourists. Efforts will focus on maintaining momentum in core service revenue. In the remaining quarter of the year, growth will continue to

the Infrastructure Fund of Japan in September 2018. This resulted in the steady amount of overall electricity generated. There were also a profit from the sales of the aforementioned assets before tax

sq.m., in which the Company has 85% stake in the project. The project represents a distinguished experience and selecting an iconic global brand matching urban lifestyle with green area more than 1,000

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