financing activities of 1,134.5 million Baht, mainly due to receiving cash flows from issuing debentures. Factors and Operational Plan Affecting the Future Performance The Company is committed to continually
businesses including US Gas Cracker, Rotterdam, Portugal and Indonesia PTA, Brazil, Egypt and India PET as well as Avgol and Kordarna synergies in HVA, and is committed to driving higher earnings in 2018 and
achieved strong earnings, a growth of 49% in core EBIDTA or $749 mil- lion which is on track to deliver over $1 Billion in annual EBITDA in 2017, the first time in the history of the Company. The strong
integration of acquired businesses, the start of earning recovery in our high-volume Necessities business and our stable but higher-margin HVA business. We delivered record earnings and cash flows and expect
meet market demand in 3Q17. Therefore, the tailwinds in volume and margins are expected to handsomely beat earnings estimates on a fully diluted basis following the exercise of W1 warrants. 3 In last
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
million (THB 8.4 billion), -7% YoY, Core EBITDA margin 10% Core Net profit after tax of $128 million (THB 4.0 billion), -27% YoY Core Earnings Per Share of THB 0.67, -32% YoY Operating Cash Flow of
of $304 million (THB 9.6 billion), -7% YoY, Core EBITDA margin 10% Core Net profit after tax of $128 million (THB 4.0 billion), -27% YoY Core Earnings Per Share of THB 0.67, -32% YoY Operating
earnings (EBITDA). Shareholders, including the majority shareholders, expressed their faith in the performance and future prospects of the Company and subscribed, in large numbers, to the warrants (IVL-W1