Operating profit (EBITDA) in the petrochemicals segment of Russian energy and petrochemicals giant Sibur (Moscow; www.sibur.com) fell by 34% year-on-year to RUB 7.62 bn (EUR 154m) in 2013. Sales in the segment were 6% lower at RUB 120 bn. However, sales of plastics and organic synthesis products increased thanks to the opening of new production facilities and targeted acquisitions in 2012.

In basic polymers, sales volumes increased as a result of improved PP trading activities and higher PP production following the commissioning of the company’s Tobolsk-Polymer project (Tobolsk / Russia) – see Plasteurope.com of 23.10.2013. These gains were, however, partially offset by inventory accumulation. Prices remained largely flat over the year.

In the company’s plastics and organic synthesis business, PET volumes fell due largely to a lengthy shutdown as part of a capacity expansion project. This was partially compensated by commissioning of the company’s second EPS line in Perm in the third quarter of 2012 and the opening of a BOPP film production facility in Tomsk at Sibur’s subsidiary Biaxplen (Nizhny Novgorod; www.biaxplen.ru), which was fully acquired in 2012 – see Plasteurope.com of 20.04.2012.

Overall, the group, including its feedstocks and energy businesses, reported a 4% year-on-year fall in operating profit to RUB 78.9 bn on sales down marginally at RUB 270 bn. The company said gains in its energy business were fully offset by declining revenue from sales of synthetic rubbers, intermediates and other chemicals and processing services.

e-Service:
Sibur 2013 operational and financial results presentation as a PDF file