Rabord Energy: Dr. Amin Amraei, CEO of Marun Petrochemicals, has touched on the most important points of the company’s annual general assembly with regards to the 2023–2024 fiscal year. Amraei has said the meeting was held in the presence of most of the shareholders. He said that despite rising costs and expenses, the company managed to show a favorable performance.
Amraei further noted that Marun’s operating income and profit increased last year. Its sales were 36.8 thousand billion tomans and rose by 11% compared to the previous year. As a result, the operating profit of the company increased despite concerns over a decrease in profits due to the lack of production and overhaul. According to Amraei, the company managed to register 8.5 trillion tomans of profits through different means, including the preparation of sales scenarios, intelligent sales, a reduction in the intensity of energy consumption, and a reduction in off-spec production. The amount is 1 thousand billion tomans, or 9%, higher than the previous year.
Amraei further noted that only the consolidated income of Marun Company is decreasing. He emphasized that the decrease is a positive sign because it shows that instead of shareholders’ money, the company is now using the money market. He said the company has had a successful track record in production. The same positive trend can be seen in the development of the company.
Amraei further said that Petronad Asia Company has joined Marun Petrochemical company as a trading partner, and its shares have been purchased. The purchase has been aimed at enabling Marun Petrochmeical to complete Iran’s ethylene oxide chain, which includes Avecina Hamedan, Petronad, and the rest of the related projects. He further expressed his gratitude to the workers of Marun Petrochemical Company for their nonstop effort.
He also referred to the impact of this company’s presence in international exhibitions and competition with Russian companies in the global market and said the company is moving towards making sales smarter. The company is now choosing appropriate exhibitions according to its target countries and markets. Amraei noted that apart from China, the company is also expanding its activities to other markets, and as a result, new markets and customers have been added to Marun’s export portfolio. As a result of this strategy, the company’s sales, despite a decrease in production, have increased compared to the previous year. According to Amraei, this is due to the production of special grades. He emphasized that Russia, both in the past and now, has been the company’s commercial competitor in the petrochemical field.
Amraei also referred to the development of projects and Marun’s value chain and said part of the projects will be put into operation next year, and the rest of the projects will be launched in the coming years based on the schedule.
Amraei also referred to the legal case Marun Petrochemical is dealing with and said most of the guarantees given by Sekaf Company were seized. Furthermore, a series of properties have also been seized by the company. New pieces of property, put forward by Sekaf, will be seized by the company to reach a settlement.
Source: Marun Petrochemical Department of Public & International Affairs
