BANGKOK – Indorama Ventures (IVL), which supplies a range of high-performance fibres for the nonwovens and technical textiles sector, has unveiled a three-year business roadmap for 2026–2028 that aims to double EBITDA by 2028.
Presenting at the company’s Annual Capital Markets Day in Bangkok, group CEO Aloke Lohia said the new plan builds on the “reset” achieved under IVL 2.0, which was framed around a VUCA approach – ‘Vision, Understanding, Clarity and Agility’ - to optimise the cost base, strengthen balance sheet flexibility and reinforce a more resilient asset platform across its global operations. He noted that this has left IVL structurally stronger and more competitive as the chemicals sector continues to consolidate amid prolonged volatility and disruption.
For the next phase, IVL says it is implementing a ‘SOAR mindset - Strengths, Opportunities, Aspirations and Result’ - on top of VUCA to drive value creation.
Earlier in 2025, Indorama Ventures overhauled its senior leadership structure to function as a lean execution partner to its federated business segments, shifting the emphasis from managing complexity to consistently delivering value at the business-unit level.
Management highlights “radical clarity” as a central principle behind faster decision-making, deeper accountability and more disciplined capital deployment to improve the quality and resilience of earnings.
The 2026–2028 roadmap is organised around five priorities: structural cost leadership, commercial and manufacturing excellence, portfolio reorganisation, inventory optimisation, and rigorous cash and capital management. These will be underpinned by further scaling of the company’s Global Capability Centre, tighter Sales & Operations Execution disciplines and broader integration of digital tools into day-to-day operating processes.
IVL has stressed that its projections assume industry spreads remain at 2025 trough levels, with performance gains driven primarily by self-help measures such as cost optimisation, inventory discipline and portfolio sharpening.
Around 95% of EBITDA is targeted to come from advantaged, scalable platforms including integrated PET, surfactants, technical textiles and packaging, all of which now operate on a lower cost base and with improved margins. Turnaround programmes are in place for the Integrated EO/EG and Specialty Polymers businesses to restore profitability independently of any market recovery.
The Indovida packaging business is identified as a key growth engine, supported by steady demand in food, beverages and personal care, and by its embedded customer relationships and integration potential in emerging markets. Reflecting on IVL’s evolution since its 30th anniversary in 2020, Lohia pointed to a decade marked by polyester market maturation, crude oil volatility, pandemic disruption, geopolitical tensions and sharply higher interest rates as catalysts for the strategic reset launched under IVL 2.0 and now extended through a clearer execution-led roadmap to 2028.
