News Code : 46097

By 96% profit distribution in the assembly of AryaSasol Polymer Company;

Petrotahlil -CEO of Arya sasol Polymer Company, in presenting the report of the Board of Directors to the General Assembly of Shareholders, described the activities and achievements in 2020 and said: with the production of 1 million and 900 thousand tons of products and 110 thousand tons more than the previous year, the highest record in company history has took shape.

Amir Hossein Bahreini stated the above news: Arya Sasol Company by eliminating the bottlenecks of production of HDPE and LDPE units in recent years and choosing a predictive method instead of preventive in maintenance and repair and considering physical assets management, in 2020 As in 2019,  occupied the first and second ranks of production among the 300 thousand ton units of polyethylene in the country and was able to produce 392 thousand tons per unit of HDPE and 386 thousand tons of LDPE. 

Record $ 530 million in net profit

Referring to the 163 percent increase in net profit compared to the same period last year, Bahraini added: "Production of about 110,000 tons more products than the previous year and the return of product prices to a reasonable range before the shock caused by the corona pandemic are important reasons for 11,000 profit." Billion Tomans (equivalent to 530 million dollars) in 2020, which is the highest record of foreign exchange and Rial profitability in the history of the company.

Latest news from $ 110 million development plans and new profit forecast

The CEO of Arya sasol Polymer Company reminded: The project of constructing a new polyethylene unit of the company with a capacity of 300,000 tons per year, which will be operational by the end of 2022, adding about $ 100 million to the company's annual profit, is undoubtedly the most important event in business. And it is the profitability of the company that has occurred after the operation of the complex in 2008.

He spoke about starting another new project, the 165,000-ton C3 + by-product separation project, and expressed hope that its implementation would stabilize the sustainability of olefin production from this perspective by increasing $ 10 million in profitability by completing the value chain.

Attractive capital increase

Bahraini expressed hope that the company would soon request a capital increase from the accumulated profits.

Aryasasol CEO explained the production and sales plan for 2021 and continued: the amount of sales of products this year is at least 65 thousand tons more than in 2020 and one of the new plans this year is to export at least 50 thousand tons of ethylene Its executive measures are underway.

Positive outlook for polyethylene markets in the world

Referring to the positive outlook for demand in the global polyethylene market in 2021 and 2022, he said: "After a serious economic crisis caused by the corona, global polyethylene prices in 2021will be at least $ 100 more than the average prices in 2020 It is anticipated.

The CEO of Aryasasol, referring to the precise processes of selling and receiving the company's receivables, said that receiving a favorable report without a clause from the auditor and statutory auditor, despite the large size of the business, is one of the company's competitive advantages in the capital market. In dollars, the company has no doubtful claims.

Distribution of 96% divisible profit

At the end of the meeting, the General Assembly agreed to distribute 11, 500 IRR per share equal to 96% dividend and according to the CEO, the payment of dividends to real shareholders will be distributed quickly and through the next 10 days (June 8) through the SAJAM system.

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