change in net working capital and cash tax, before maintenance capex Indorama Ventures 2nd Quarter 2019 MD&A 3 Summary 2Q19 results IVL’s performance for the first half and ongoing progress give us the
benefit from structurally improving margins and capturing the volume opportunities. IVL has achieved notable progress on multiple strategic fronts and is increasingly well positioned to deliver sustainable
-ups in Egypt and Portugal and significantly higher crude oil environment. Indorama Ventures 3rd Quarter 2018 MD&A 4 Strategic Progress Structural Change in Industry and IVL initiatives 2018-2019
enterprises’ spending, and private investments driven by increased manufacturing capacities in many industries. Overall, the Thai economy will continue to grow, which in turn could be affected by the
and Analysis EXECUTIVE SUMMARY SIGNIFICANT EVENTS ABBREVIATION & OUR PROJECTSFINANCIAL PERFORMANCE FINANCIAL POSITION PROGRESS OF PROJECTS UNDER CONSTRUCTION EXECUTIVE SUMMARY 1 Successful Glow SPP1
and Analysis EXECUTIVE SUMMARY ABBREVIATION & OUR PROJECTSFINANCIAL PERFORMANCE FINANCIAL POSITION PROGRESS OF PROJECTS UNDER CONSTRUCTION EXECUTIVE SUMMARY 1 Q2’2020 net profit grew 62.5% y-on-y
% (723) (505) 43% Net working capital on acquired /sold assets - (11) - (52) (83) (37%) Maintenance capex (22) (30) (24) (7%) (99) (86) 15% Cash Flow After Strategic Spending 108 31 85 26% 67 152 (56%) Net
Strategic Spending 204 (1,383) (115)% 24 189 (639) (104)% Net financial costs (220) (154) 43% (98) (16) (68) 44% Dividends and PERP interest (293) (311) (6)% (75) (74) (68) 11% Proceeds from issue of ordinary
) (1,551) (9%) Net working capital on acquired / sold assets 37 0 (5) (780%) (158) (48) 227% Maintenance capex (42) (39) (22) 89% (183) (100) 83% Cash Flow After Strategic Spending 189 244 (465) (141%) (458
consumption picked up across all spending categories thanks to improvements in domestic demand supported by various government stimulus measures. Private investment expanded at a higher rate, driven by real