For the year 2023, Polymers and Chemicals business had an Adjusted EBITDA of Baht 6,178 million, which decreased by 18 percent from the previous year, resulting in an Adjusted EBITDA Margin of 6%. This reduction was attributed to a decrease in product spread. Overall sales volume was approximately 2,331,000 tons, which increased by 6% compared to the previous year. Polymers & Chemicals Price, Product Spreads and Performance of Polymers & Chemicals In the overview of the market situation for Polymers and Chemicals business in the year 2023, there was a decline compared to last year, primarily due to the significant reduction in the product spread. The average price of PE decreased by 19% from the previous year. The economic conditions, which had not fully recovered, continued to exert pressure on the market situation due to high inflation rates and an economic downturn. Additionally, there was excess supply resulting from ongoing large-scale new production capacity in China after the easing of COVID-19 situation. (Unit : USD per ton) 2022 2023 YoY % +/(-) Average Polyethylene (PE) 1,280 1,033 -19% High-Density Polyethylene (HDPE) 1,203 1,044 -13% HDPE-Ethylene 148 155 4% Linear Low-Density Polyethylene (LLDPE) 1,208 1,013 -16% LLDPE-Ethylene 154 124 -19% Low-Density Polyethylene (LDPE) 1,428 1,041 -27% LDPE-Ethylene 373 152 -59% Polyethylene Terephthalate (PET) 1,097 925 -16% Polypropylene (PP) 1,206 1,008 -16% PP-Naphtha 421 358 -15% Polyvinyl chloride (PVC) 1,103 814 -26% PVC-0.5 Ethylene 576 370 -36% Polyols 1,656 1,366 -18% Polyols-0.92 PO 525 397 -24% Adjusted EBITDA (MB) 7,580 6,178 -18% Adjusted EBITDA (%) 7% 6% 1% Sales Volume (Kton) 2,199 2,331 6% Share of gain/(loss) from investment (MB) 1,598 (553) -135% 117 PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED Form 56-1 One Report 2023
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