The revenue of Kazanorgsintez PJSC over 9 months exceeded RUB 58.2 bln

31 October 2019

The revenue of Kazanorgsintez PJSC over 9 months exceeded RUB 58.2 bln

Kazanorgsintez PJSC drew up the balance sheet for 9 months of this year. According to reporting data provided by the Russian Accounting Standards (RAS), the company's revenue exceeded RUB 58.2 bln that is nearly to catch the outcome for the same period of last year with a slight decrease of 3%. The profit for the three quarters of this year amounted to RUB 11.7 bln. Thus, Kazanorgsintez succeeded to make great financial progress even in worsening market conditions, amid dumping by new PE resin producers aggressively entering the world markets over the last year.

Remember that from the second half of 2018 until the fall of 2019, the Russian polymer market experienced serious pressure from foreign players notably affecting the sales of high-density polyethylene (HDPE). Since the end of 2018, Turkmenistani HDPE producers entered the Russian market followed by producers from Azerbaijan to come in the spring of 2019. This happened against a global fall in HDPE prices. Aggressive pricing policy of US producers in the European market contributed to make the situation worse. Since the second half of 2018, world prices for polycarbonates have also declined with the stabilization of the situation by the fall of 2019.

In these circumstances, Kazanorgsintez continued to diversify its product line. Back in 2018, the company received a certificate of compliance with ISO 9080 for the HDPE grade PE2NT11-9 that facilitate to bring this product to new markets in 2019. Then, the company commercialized two metallocene linear low density PE (LLDPE) in April 2019. Currently, it is one of the most popular PE resins among the end-use producers. The very first sales demonstrated a high demand for LLDPE, and buyers gave the most positive feedback on the products of Kazanorgsintez. As a result, the company has now exceeded previously planned volumes of production and sales of metallocene PE resins. Currently, Kazanorgsintez is the only producer of LLDPE in Russia.

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