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
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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
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to certain groups of customers and limited growth in some types of loans amid an uneven economic recovery. In addition, net fees and service income of the banking system continued to enjoy steady
percent, edging up slightly from 0.6 percent in 2017 given steady improvement in overall domestic demand. On December 19, 2018, the Bank of Thailand raised the policy rate for the first time in seven years