Strong business fundamentals expected to carry over into 2021
Monterrey, N.L., Mexico. February 12th, 2021 – Alpek, S.A.B. de C.V. (“Alpek”) announced today its 2021 guidance figures and key assumptions.
The strong fundamentals behind the company’s 2020 results are expected to largely carry over into 2021. In the Polyester segment, volume is expected to increase as 1Q21 figures will reflect post-COVID demand patterns, while Asian integrated margins will remain at current levels. In the Plastics & Chemicals segment, strong volume growth is expected given the added EPS capacity from the NOVA Chemicals’ Expandable Styrenics acquisition (2% of overall volume increase), while Polypropylene margins should decline, as the entry of new market capacity is fully absorbed by the market.
Alpek’s guidance figures are based on the following key assumptions:
- Average Brent crude oil reference price of U.S. $48 per barrel
- Asian Integrated PET Reference Margins of U.S. $245 per ton
- Exclusion of all Inventory Adjustment and Raw Material Carry-forward effects (“RMCF”)
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