Sibur elastomers revenues down despite higher volumes

Moscow – Russian petrochemicals supplier Sibur has posted a 5.5% year-on-year decline in revenue from elastomers in the first half of 2018, despite an increase in sales volumes.

Elastomers revenue stood at RUB25,986 million (€340 million) in the first six months of the year, compared to RUB27,488 million the year before, a company spokeswoman told ERJ 8 Aug.

The decline was attributed to a 9.2% decrease in the effective average selling price, against high comparatives of last year, and despite a 4.2% increase in sales volumes.

The increase in sales volumes, which was mainly driven by higher production volumes, was however partially offset by changes in stock.

In the first half of 2018, the company official went to explain, Sibur increased inventory levels mainly pending a maintenance shutdown at its production site in Voronezh.

Exports accounted for 62.6% of Sibur’s total elastomers revenue in the first half while 37.4% was attributed to domestic sales.

Sibur’s elastomers business is part of a Plastics, Elastomers & Intermediates unit, which increased first-half revenues by 2.6% year-on-year to RUB78,151 million.