Kuwait-based Equate Group, a global producer of petrochemicals, has reported revenue of $2.041 billion during the first half (H1) of 2021, compared to $1.423 billion during the same period in 2020, marking an increase of 43%.

The Group also reported a net income after tax of $543 million and EBITDA of $869 million, compared to $124 million and $409 million, respectively, during the same period last year.

Equate Group’s facilities around the world continue to operate safely and maintain highly reliable production rates despite global challenges. The group remains in a leading cost competitive position and continues to deliver all of its quality products to customers globally.
 
Naser Aldousari, President& CEO of Equate, said: “We see strong signs of optimism, as the world economy recovers from a challenging period, with a positive impact on prices, and a return to normalcy driven by increased global manufacturing and industrial activities.

“The results illustrate Equate’s resilience and adaptability, enabling us to continue supplying customers and markets with high quality products from multiple strategic locations. Reliability is at the cornerstone of our reputation and what our customers have grown accustomed to, this will remain so as we move forward in our business.” – TradeArabia News Service