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