The company's CEO, Mohammad Reza Heydarzadeh, expects the company to
break its sales record with an estimated 1.191 million tons of product sales
Speaking at the Annual Ordinary General Assembly and the Extraordinary
General Assembly of Arya Sasol Polymer Company, Heydarzadeh attributed the
company's positive performance to its employees and board members.
The Arya Sasol ethane complex has an annual production capacity of 1.1
million tons of ethylene, 375,000 tons of light polyethylene, 375,000 tons of
medium and heavy polyethylene, and 100,000 tons of C3+.
The CEO stated that the company produced 1.784 million tons of
products in 2022, and sales revenue increased by 3% to a record-breaking 27.4
trillion Tomans ($1.5 billion).
The company's operating income was 27.4 trillion Tomans, with a gross
profit of 10.7 trillion Tomans, a profit margin of 39%, and a net profit of 11
Heydarzadeh reviewed the factors that increased and decreased the
The decrease in the rate of ethane and the increase in the currency
exchange rate were increasing factors, while the decrease in the global sales
rate of products, the increase in the rate of ancillary services and the
requirements of tax and budget laws, and the 122-day shutdown of the
Ethylbenzene and Styrene Monomer unit were among the factors that reduced
The CEO emphasized the need to increase direct sales to obtain a
higher profit margin, increase production and sales, and generate income
through the company's innovation and knowledge center.
The company plans to replace the cooling pipeline, sell excess
ethylene, and implement the construction project of the 10th furnace of the
olefin unit for production sustainability.
Arya Sasol Polymer Company is also planning the new 300,000-ton
polyethylene project, with 200,000 tons of ethylene supplied from the complex's
ethylene production and 100,000 tons from outside the complex.
Heydarzadeh stated that the planning of the separation project of
165,000 tons of C3+ would also contribute to the company's profitability.
The CEO expects that the completion of these projects will result in
an annual increase of $110 million in the company's profitability from 2023.
The company has demonstrated an efficiency rate 3% higher than the
total index, achieving a return of 65% compared to the stock market index's 62%
Heydarzadeh outlined the company's development plans, including
putting the new polyethylene unit and C3+ and the 10th furnace into operation
in the middle of 2023.
He emphasized the need to continue maximum sustainable production and
sales, produce new grades of polymer products, identify new export markets, and
continue the company's activities in line with environmental preservation and
Arya Sasol Polymer Company is determined to develop its innovation and
knowledge center to support these plans in 2023.