Business Note: Holding companies earnings are allocated to all regions and all historical are restated accordingly Indorama Ventures 2nd Quarter 2018 MD&A 18 Table 7: Reconciliation of Core Profit After Tax
6661 Fax: +662 661 6664 1 2019 IVL Performance Summary IVL registered volume growth of 18% in 2019 driven mainly by inorganic expansion. Industry-wide spreads declined to historical lows in 2019, leading
Promotion Operation Review ... 1 The effect of natural disaster on earnings management Supavinee Jevasuwan Kasetsart University SEC Working Papers Forum 19th August 2015 2 Research Question 3
Figure 7: Asian Segment Note: Holding companies earnings are allocated to all regions and all historical are restated accordingly 13 Table 7: Cash Flow Statement USD in Millions 4Q17 3Q17 4Q16 2017 2016
Figure 7: Asian Segment Note: Holding companies earnings are allocated to all regions and all historical are restated accordingly 13 Table 7: Cash Flow Statement USD in Millions 4Q17 3Q17 4Q16 2017 2016
6661 Fax: +662 661 6664 Indorama Ventures 2018 MD&A 1 Indorama Ventures Public Company Ltd Management Discussion and Analysis For the year ended December 31, 2018 Milestone Revenues and Earnings
remaining two segments, Integrated Oxides & Derivatives and Specialty Chemicals are expected to resume their earnings from unplanned shutdowns, except IPA which we believe will recover over the next 12-18
Figure 4: Americas Business Figure 5: EMEA Business1 Note: 1 Europe, Middle East and Africa. Figure 6: Asia Business Note: Holding companies earnings are allocated to all regions and all historical are
earnings translation. US$ 155M lower EBITDA in LTM3Q19 and US$ 22M in 3Q19 due to unplanned shutdowns, catalysts change planned shurdown in EOEG assets in USA and one line conversion from PTA to IPA in USA
Perpetual Debentures 5 M&A earnings are annualized for ROCE calculation to appropriately represent the ratio based on restated historical numbers. ROCE calculation is based on THB currency which may not match