Indorama Ventures Public Co. Ltd. · SET:IVL
Indorama Ventures Public — Q2 2025 Earnings Presentation
18 slides from Indorama Ventures Public's earnings presentation, Aug 23, 2025
Slide 1: 2nd Quarter 2025 Financial Results
nd 2 Quarter 2025 Financial Results 14th August 2025
Slide 2: Disclaimer
Disclaimer This presentation and its content (“Material”) is proprietary to Indorama Ventures Public Company Limited (“Indorama Ventures”) and/or its affiliates (collectively, the “Group”) and may not be, in whole or in part, reproduced or disclosed, published, distributed or released to any other p
Slide 3: 2Q 2025: Business Results
2Q 2025: Business Results 2Q 2025 Key Financials Sales Volume Revenue Revenue of $3.55B, up 2% QoQ, reflecting improved volumes 3.33MT $3,546 1 following prior quarter planned turnarounds and winter freeze disruptions 3% QoQ -8% YoY 2% QoQ -11% YoY Adjusted EBITDA of $330M, up 20% QoQ, driven by hig
Slide 4: 2Q 2025 – IVL by Segments
2Q 2025 – IVL by Segments IVL Adjusted EBITDA ($M) YoY Adjusted EBITDA declined 11% YoY driven by 427 normalization of MTBE margins and weaker 20% 48 integrated margins in Indovinya, partially QoQ offset by cost savings from assets 370 2Q25 vs 358 optimization and improved market dynamics 1Q25 39 33
Slide 5: 2Q 2025 – IVL by Regions
2Q 2025 – IVL by Regions YoY IVL Adjusted EBITDA ($M) Americas performance declined due to 427 normalization of MTBE and softer Indovinya performance 20% QoQ European performance impacted by higher 370 2Q25 vs 358 energy prices and poor integrated PET market 330 1Q25 conditions 276 Asian performance
Slide 6: 2Q 2025 – Combined PET
CPET 2Q 2025 – Combined PET YoY Combined PET Adjusted EBITDA ($M) -7% YoY, due to normalization of MTBE 260 margins, lower NDC production due to +52% timing of campaign run and higher energy QoQ 221 prices partially offset by fixed cost savings 2Q25 vs 71 206 from asset optimization 1Q25 191 49 QoQ
Slide 7: August 2025 milestone achieved: 150 billion PET bottles recycled
CPET August 2025 milestone achieved: 150 billion PET bottles recycled Recycling Acceleration Begin 50B 100B 150B recycling milestone milestone milestone 9 years 3.5 years 1.9 years © Indorama Ventures 7 Source: Industry Data, IVL Analysis
Slide 8: 2Q 2025 – Indovida
Indovida 2Q 2025 – Indovida Indovida Adjusted EBITDA ($M) 28% YoY QoQ 2Q25 vs Adjusted EBITDA was flat YoY at 1Q25 27 27 $27M despite lower volume from 26 bottling operations 23 21 QoQ 0% YoY Adjusted EBITDA rose 28% 2Q25 vs supported by a 9% increase in 2Q24 sales volume driven by strong demand in
Slide 9: 2Q 2025 – Indovinya
Indovinya 2Q 2025 – Indovinya YoY Indovinya Adjusted EBITDA ($M) and Adjusted EBITDA Margin 1 190 Adjusted EBITDA decreased 24% YoY, primarily, due to planned -16% turnarounds in LAB and Camacari QoQ plants, trough cycle Essentials 20% 20% 20% HVA EBITDA% 2Q25 vs 16% 16% 17% 17% 14% 17% business and
Slide 10: 2Q 2025 – Indovinya by End-Markets
Indovinya 2Q 2025 – Indovinya by End-Markets Revenue ($M) 1 Home & Personal Care: Increased market share, supporting volume growth in 2Q25 634 Crop Solutions: 591 595 Double digit volume growth in Crop Solutions with continued low inventories 33% 34% 32% Energy & Resources: We continued to experienc
Slide 11: 2Q 2025 – Fibers
Fibers 2Q 2025 – Fibers Fibers Adjusted EBITDA ($M) YoY Management actions on fixed costs across 0% Fibers QoQ 2Q25 vs Improved market conditions in Lifestyle 1Q25 48 47 47 Mobility and Hygiene impacted by weak European demand 20% 39 15 QoQ YoY 3 22 19 33 2Q25 vs Lifestyle: Declined due to softened
Slide 12: Fibers turnaround plan: fixed cost reductions and selected investments
Fibers Turnaround plan is largely based on management actions on fixed cost reductions and selected investments Incremental EBITDA uplift: $37M in 2024, $47M in 2025 and $48M in 2026 & 2027 Cash generation Fixed costs reduction New Investments Asset rationalizations Working Capital reduction (New Op
Slide 13: Net Debt Bridge: 6M25
Net Debt Bridge: 6M25 Change in Net Debt, Cash Flow Generation: $M 65 (56) 54 (185) 555 618 (198) (22) 214 Reported Change in Cash Tax Others Operating Maintenance Net financing Perp interest FCF created EBITDA NWC cash flow capex cost and NCI for IVL dividends Shareholders 111% EBITDA conversion 21
Slide 14: Natural hedge on foreign currencies with global investments
Natural hedge on foreign currencies with global investments Natural Hedge Diversified Funding Long-Term Debt Repayment schedule $B 7.6 7.6 (Post- Refinancing)3 Others 3% Working Capital Non operating 0.8 0.9 Loan, net of cash 30th June 2025 debt2 & cash under Liquidity $1.8B 27% ROW management $B Ba
Slide 15: Working Capital efficiency but higher CAPEX due to planned turnarounds and EPL investment
Working Capital efficiency but higher CAPEX due to planned turnarounds and EPL investment Working Capital Days CAPEX ($B) Better discipline on Working Capital Investment in Fibers & Recycling projects, TAR Maintenance Capex in IC 92 0.80 83 78 0.53 0.47 0.27 2024 1H25 2H25E 2025E 2Q25 2025E 2027F Ma
Slide 16: US Tariffs is advantageous due to IVL Local-to-Local business model
US Tariffs is advantageous due to IVL Local-to-Local business model ~50% of IVL EBITDA from North America US Tariffs will have moderate to positive impact on IVL Minimum 10% announced on all countries and 15+% on countries with Trade surplus Product New Tariff Structure Impact Impact on IVL 6M25 Gro
Slide 17: Key Takeaways
Key Takeaways Q2 improved, particularly in CPET, driven by normalization of IC operations post-Q1 1 disruptions and improved integrated PET business conditions Indovinya impacted by trough cycle Essentials business due to higher PKO prices, lower 2 integrated margins and planned turnarounds; improve
Slide 18: Thank you
Click to edit Master title style Click to edit Master subtitle style Thank you © Indorama Ventures 2024
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