Orbia, one of the world’s largest suppliers of plastic pipes and other petrochemicals, reported figures for the first quarter of this year well above analysts’ expectations, benefiting from favorable prices especially for PVC in its Polymer Solutions business, which focuses on vinyl polymers with applications for pipes, cables, among others.
The company increased its operating flow by 35.4% in the first third of the year, while net sales increased 35.6% from January to March 2022, compared to the same period a year earlier, with good performance in all divisions of the company. Net earnings increased 76.8% in the period.
“Sales for the quarter were up across all businesses. Primary reasons for the year-over-year increase include favorable PVC pricing at Polymer Solutions, increased North American demand for Data Communications, and favorable demand and pricing at Building & Infrastructure,” Orbia said in its report.
Sameer Bharadwaj, the station’s managing director, said that despite uncertainty over world events and inflationary pressures, demand continued to be strong across all five of its businesses.