2021 projections are based on historical 2017-2018 performance and management forecast. The predicted volume is based on legacy and new assets already committed, planned and announced. Such forward
partly because the overall household purchasing power was not sufficiently strong and household debt remained elevated. Private investment picked up in line with the improved economic outlook, and with
purchasing power. However, from Sep-21 onward, restrictions were gradually lifted, resulting in some improvement in consumer spending. Meanwhile, competition in mobile industry remained elevated as operators
effectively managed, although inventory days increased from 28 days to 40 days. This was a result of an elevated handset stock-to-sales ratio due to the government tax campaign in early 2024, which postponed
and management forecast. The predicted volume is based on legacy and new assets already committed, planned and announced. Such forward-looking statements speak only as at the date of this document, and
historical 2017-2018 performance and management forecast. The predicted volume is based on legacy and new assets already committed, planned and announced. Such forward-looking statements speak only as at the
from $84 million in 3Q 2017 to $179 million in 3Q 2018, on the back of high utilization rates across legacy portfolio, volume contribution from Brazil acquisitions, and significant increase in PET EBITDA