News Agency - Detail

Arya Sasol Polymer Company Plans Record Sales Increase

Arya Sasol Polymer Company Plans Record Sales Increase
(Tuesday, April 18, 2023) 00:01

TEHRAN (NIPNA) -- Arya Sasol Polymer Company, a leading polymer producer in Iran, has announced plans to increase production and sales in 2023.

The company's CEO, Mohammad Reza Heydarzadeh, expects the company to break its sales record with an estimated 1.191 million tons of product sales this year.

Speaking at the Annual Ordinary General Assembly and the Extraordinary General Assembly of Arya Sasol Polymer Company, Heydarzadeh attributed the company's positive performance to its employees and board members.

The Arya Sasol ethane complex has an annual production capacity of 1.1 million tons of ethylene, 375,000 tons of light polyethylene, 375,000 tons of medium and heavy polyethylene, and 100,000 tons of C3+.

The CEO stated that the company produced 1.784 million tons of products in 2022, and sales revenue increased by 3% to a record-breaking 27.4 trillion Tomans ($1.5 billion).

The company's operating income was 27.4 trillion Tomans, with a gross profit of 10.7 trillion Tomans, a profit margin of 39%, and a net profit of 11 trillion Tomans.

Heydarzadeh reviewed the factors that increased and decreased the company's profit.

The decrease in the rate of ethane and the increase in the currency exchange rate were increasing factors, while the decrease in the global sales rate of products, the increase in the rate of ancillary services and the requirements of tax and budget laws, and the 122-day shutdown of the Ethylbenzene and Styrene Monomer unit were among the factors that reduced profits.

The CEO emphasized the need to increase direct sales to obtain a higher profit margin, increase production and sales, and generate income through the company's innovation and knowledge center.

The company plans to replace the cooling pipeline, sell excess ethylene, and implement the construction project of the 10th furnace of the olefin unit for production sustainability.

Arya Sasol Polymer Company is also planning the new 300,000-ton polyethylene project, with 200,000 tons of ethylene supplied from the complex's ethylene production and 100,000 tons from outside the complex.

Heydarzadeh stated that the planning of the separation project of 165,000 tons of C3+ would also contribute to the company's profitability.

The CEO expects that the completion of these projects will result in an annual increase of $110 million in the company's profitability from 2023.

The company has demonstrated an efficiency rate 3% higher than the total index, achieving a return of 65% compared to the stock market index's 62% in 2022.

Heydarzadeh outlined the company's development plans, including putting the new polyethylene unit and C3+ and the 10th furnace into operation in the middle of 2023.

He emphasized the need to continue maximum sustainable production and sales, produce new grades of polymer products, identify new export markets, and continue the company's activities in line with environmental preservation and social responsibilities.

Arya Sasol Polymer Company is determined to develop its innovation and knowledge center to support these plans in 2023.

Email is required
Characters left: 500
Comment is required