Philippines Petrochemicals Report Q3 2016

Date: July 6, 2016
Pages: 65
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)

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Includes 3 FREE quarterly updates

BMI View: The Philippines' development of olefins and polymer resins production will overcome the main weakness in its petrochemicals industry, which has been dependent on imported ethylene and propylene, as well as aromatics and their derivatives. JG Summit Holdings' petrochemicals complex has only modest capacity but ensures that the Philippine petrochemicals industry will have a future, with potential for further investment and diversification.

The petrochemicals industry witnessed a downturn in output revenue in Q116 with the value of basic chemicals output falling 15% y-o-y and rubber declining 11.6%, although plastics grew 1.3%. Much of this loss was due to a decline in prices. While chemicals output volume was up 83% y-o-y according to official statistics, it was down 43% compared to the previous quarter. Plastic and rubber volumes grew 14.3% y-oy, indicating that output was holding up even as prices were falling. JG Summit posted 38.1% growth in core net profit to PHP28.05bn in 2015 with its airline and petrochemical businesses contributing to its earnings. Consolidated revenues went up by 24.1% to PHP229.27bn while cash flow as measured by earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 29.6% to PHP63.79bn. New petrochemicals operations that opened in November 2014 ensured that the JG Summit Petrochemicals Group subsidiary reported PHP26.78bn in revenue, compared to PHP3.23bn in 2014.
BMI Industry View
Operational Risk
Industry Forecast
  Table: Philippines Petrochemicals, 2012-2020
Macroeconomic Forecasts
Economic Analysis
Industry Risk/Reward Index
Asia Petrochemicals Risk/Reward Index
  Table: Asia Petrochemicals Risk/Reward Index Ranking
Philippines Petrochemicals Risk/Reward Index
Market Overview
Industry Trends And Developments
Company Profile
JG Summit Petrochemicals Corp
  Table: JG Summit Financial Results, PHPmn
Petron Corporation
  Table: Petron Financial Results, PHPmn
Regional Overview
Asia Overview
Global Industry Overview
Demographic Forecast
  Table: Population Headline Indicators (Philippines 1990-2025)
  Table: Key Population Ratios (Philippines 1990-2025)
  Table: Urban/Rural Population & Life Expectancy (Philippines 1990-2025)
  Table: Population By Age Group (Philippines 1990-2025)
  Table: Population By Age Group % (Philippines 1990-2025)
  Table: Glossary Of Petrochemicals Terms
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Petrochemicals Risk/Reward Index Indicators
  Table: Weighting Of Indicators
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