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Strong performance

SIBUR enhanced operating performance nearly by each and every measure.

On 28 February, the company reported its 2017 IFRS results. SIBUR increased natural gas output and associated petroleum gas processing volumes while also boosting sales across most petrochemicals. The company delivered a higher revenue and net profit and managed to scale down its debt profile.

Operating highlights

On the back of enhanced performance at SIBUR’s new and refurbished facilities in Tobolsk and Tomsk, the company increased sales of its own-produced polypropylene and polyethylene by 10.9% to 598 kt and by 12.6% to 268 kt, respectively.

In 2017, SIBUR’s plants increased APG processing volumes by 1.6% y-o-y (hereinafter all y-o-y figures are compared to 2016 – Ed.) to 22.8 bcm. The growth is largely attributable to rising shipments from oil companies and high capacity utilisation rate. As a result, SIBUR produced 19.7 bcm of natural gas, up 1.5% y-o-y.

NGL fractionation volumes increased by 6.7% to 8.7 mt, mainly due to gas fractionation expansion in Tobolsk. Natural gas sales went up 1.3% to 18.5 bcm. Sales of LPG grew 4.5% to 4.9 mt.

In 2017, SIBUR also delivered improved sales across most petrochemicals. On the back of enhanced performance at SIBUR’s new and refurbished facilities in Tobolsk and Tomsk, the company increased sales of its own-produced polypropylene and polyethylene by 10.9% to 598 kt and by 12.6% to 268 kt, respectively.

Elastomer sales saw a rise of 9.7% to 485 kt. In particular, this was made possible by additional thermoplastic elastomers capacities being introduced at the Voronezh site, coupled with a favourable market environment. Sales of plastics and organic synthesis products remained flat y-o-y at 771 kt. Sales of intermediates increased by 13.0% to 520 kt. This is the result of increased polypropylene output and higher external benzene sales during the scheduled repair at SIBUR’s Perm facility.

To access the full version of the 2017 IFRS audited consolidated financial statements, please go to.

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