IVL: Solid PET Performance Drove 1Q22 Profit
IVL reported 1Q22 net profit of Bt14.1bn (+134% YoY, +161% QoQ), The result came out better than our expectation and beat the consensus by 95%.
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IVL: Oxiteno Earnings to Kick in by 2Q22
IVL announced completion of Oxiteno acquisition and consolidation of assets beginning April 2022 (earnings recognition 2Q22 onwards). We have a...
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IVL: Value Accretion from Oxiteno Acquisition
We have a positive view on IVL’s new acquisition of Oxiteno given the inexpensive deal, earnings accretion and synergy benefits. We maintain the...
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IVL: Solid Outlook in 2Q21 from Seasonality
We reiterate a BUY rating and upgrade our target price to Bt55.0 (from Bt50), derived from 2.2xPBV’21E which is equal to world material peer.
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IVL: Expect Strong Earnings Momentum in 1Q21 and Peak in 2Q21
We reiterate a BUY rating and upgrade our target price to Bt50.0, derived from 2xPBV’21E. We expect IVL’s earnings to strongly improve in 1Q21...
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