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«SIBUR» LLC is the managing organization of PJSC «SIBUR Holding».

117218, Moscow, Krzhizhanovsky st., 16/1

SIBUR reports Q4 and FY 2020 IFRS results

Moscow, 11 February 2021. PJSC SIBUR Holding, the largest integrated petrochemicals company in Russia and one of the fastest-growing companies in the global petrochemical industry, today announces its operating and financial results for the fourth quarter and full year ended 31 December 2020 in accordance with International Financial Reporting Standards (IFRS).

Highlights for FY 2020:

Resilient earnings

  • Revenue of RUB 523 bln.
  • EBITDA of RUB 179 bln, an increase of 5.4% year-on-year.
  • Adjusted profit net of FX of RUB 93 bln.

Growth projects


  • ZapSibNeftekhim reached its full design capacity. The average utilisation rate of ZapSibNeftekhim in 2020 was 82%.
  • SIBUR’s polyethylene sales increased fivefold year-on-year to 1.3 mln tonnes; polypropylene sales increased by 51.7% year-on-year to 1.1 mln


Amur Gas Chemical Complex (Amur GCC)

  • Construction began on a facility with a capacity of 2.7 mln tonnes of polymers per year.
  • The Amur GCC is expected to establish global environmental and technology benchmarks, including the use of renewable energy sources.
  • A joint venture (JV) was established between SIBUR and Sinopec, which hold interests in the JV of 60% and 40%, respectively.

Production of TPE in Voronezh

  • A new production of thermoplastic elastomers launched in Voronezh with a total capacity of 50 thsd tonnes per year, equivalent to 5% of global TPE production capacity.

Production of green PET granules at POLIEF

  • Project implementation has begun. The project will use ~30 thsd tonnes of PET-flex annually.

Production of butyl and halobutyl rubber in Jamnagar (JV with Reliance Industries Ltd)

  • The construction of a halo butyl production facility was completed, and the first batch of product is expected soon.
  • The butyl rubber production accounts for 20% of global butyl rubber output. The facility reached 100% capacity utilisation and produced over 60 thsd tonnes in 2020.
  • The market share of butyl rubber produced at the new facility accounts for 70% of the Indian market and is exported to China, South Korea, Vietnam, Sri Lanka, Indonesia, Europe, USA, Brazil and other countries.

Operational efficiency

  • Measures to improve the operational efficiency kept increases in operating expenses to a minimum. Operating expenses grew by 2.1% as of the end of the year, primarily due to the launch of ZapSibNeftekhim and the growth of the overall business.
  • Measures to optimise financing of the investment programme helped drive down expenses on its implementation by 25% year-on-year while keeping the focus on finishing key projects to schedule.

Focus on sustainable development


  • MSCI revised SIBUR’s ESG rating upwards from B to BB.
  • At the end of 2020, Sustainalytics reduced SIBUR’s ESG risk rating to low. SIBUR ranks in the top 20 of the 444 global petrochemical companies rated by the agency.


  • The Company’s net debt to EBITDA ratio in USD terms remained unchanged at 2.2x.

Q4 highlights

  • Revenue of RUB 153.7 bln.
  • EBITDA increased by 30.3% to RUB 57.2 bln year-on-year thanks to ZapSibNeftekhim’s ramp-up to design capacity ahead of schedule.
  • Adjusted profit for the period net of FX amounted to RUB 24.5 bln.
Dmitry Konov, Chairman of the Management Board of SIBUR Holding, said:

“In 2020, SIBUR delivered an increase in key financial and operating results and maintained high margins despite a challenging macroeconomic environment. This was possible above all due to the launch of ZapSibNeftekhim and cost optimisation measures.

“Despite partial optimisation of our investment programme, we maintained our focus on expanding our petrochemical business and continued implementing our key projects. We made the final investment decision on our next key growth project – the Amur Gas Chemical Complex – and started the construction.

“The pandemic and the instability it caused confirmed our conviction that the Company’s future growth should be based on sustainable development principles and the circular economy. In 2020, we continued implementation of our Sustainable Development Strategy according to the plan. Throughout the year, the health and safety of our employees remained our highest priority. We invested over RUB 2.9 billion during the year to mitigate risks associated with the pandemic.

“Our POLIEF enterprise launched a project for PET production with the addition of up to 25% of secondary raw materials. At our Novokuibyshevsk and Tver facilities, we increased the use of green energy produced from renewable energy sources. We also have an extensive R&D programme that works alongside leading industry experts – both Russian and international – to implement green technologies and create new circular-economy products.”

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