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Russian SIBUR announced Full Year 2020 financial & operating results

CIS PETROCHEMICALS

Russian SIBUR announced Full Year 2020 financial & operating results

Russian SIBUR announced today its operating & financial results for the Full-Year 2020. Source: Neftegazru

In 2020, revenue decreased by 1.6% year-on-year to RUB 523 billion, down from RUB 531.3 billion a year earlier.

Capital expenditures decreased by 25% year-on-year to RUB 112.9 billion, mainly due to the completion of constructionof the ZapSibNeftekhim project, as well as due to an optimisation of the investment programme for 2020.

Despite a decrease in supply of APG from oil companies in the wake of the OPEC+ agreement, feedstock supply remained stable.

In 2020, SIBUR’s GPP´s processed 21.2 billion m3 of APG, down 6.2% YoY.

LPG sales decreased by 34.7% to 3.4 million tonnes due to an increase in the internal consumption as ZapSibNeftekhim reached its design capacity.

Dmitry Konov, SIBUR Holding´s CEO said:

  • In 2020, SIBUR delivered an increase in key financial & operating results and maintained high margins despite a challenging macroeconomic environment
  • This was possible above all due to the launch of ZapSibNeftekhim and cost optimisation measures
  • Despite partial optimisation of our investment programme, we maintained our focus on expanding our petrochemical business and continued implementing our key projects.  
  • We made the final investment decision on our next key growth project – the Amur GCC – and started the construction
  • At Novokuibyshevsk and Tver facilities, we increased the use of green energy produced from renewable energy sources
  • We also have an extensive R&D programme that works alongside leading industry experts to implement green technologies and create new circular-economy products
  • We invested over RUB 2.9 billion during 2020 to mitigate risks associated with the pandemic

In 2020, SIBUR’s reported revenue of $7.2 billion and EBITDA of $2.5 billion.

Over the past 10 years, SIBUR has implemented a number of large-scale investment projects worth about RUB 1 trillion.

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