Thai Enquirer
IVL posts strong Q3 profit as CEO signals ‘consistent dividend’
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Indorama Ventures Plc (IVL) reported a strong turnaround in the third quarter of 2026, while management signaled that it remains committed to maintaining consistent dividend payments as the company continues to cut costs, streamline its portfolio and
Key facts
- A planned sale of a 50% equity stake in an airbag joint venture is expected to generate another 650 million Baht in cash in the fourth quarter of 2026.
- IVL posted a net profit of 2.17 billion Baht in the third quarter, compared with a loss of 818 million Baht in the same period last year
- In August this year IVL paid a dividend of 0.20 Baht/share for its Q2 2026 operations, an increase from the 0.175 Baht it had been paying for the past few quarters.
- Management expects its net debt-to-EBITDA ratio to decline further by the end of 2026, helped by improved working capital, asset divestments and tighter inventory management.
- The company is divesting several assets, including its Rotterdam PTA/PET plant, Canada PTA operations and Australian surfactants business, with expected cash realization of around 6.6 billion Baht during 2027–2028
- Management said fixed costs have fallen from 84 billion Baht in 2023 to an expected 74 billion Baht in 2026, following plant rationalizations and shutdowns, with further reductions targeted for 2027.
Summary
IVL posted a net profit of 2.17 billion Baht in the third quarter, compared with a loss of 818 million Baht in the same period last year. EBITDA rose 65% year-on-year to 13.72 billion Baht, supported by stronger performance across its businesses and ongoing cost reductions.
During a management question-and-answer session following the results, executives said the “company’s board favours consistent dividend” distributions, following an increase approved at the previous board meeting.