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Equate posts 43% surge in H1, 2021 revenue

Business Kuwait City 28 Aug 21
 Equate posts 43% surge in H1, 2021 revenue
Kuwait-based Equate Group posts 43% surge in H1 revenue to $2bln. The group remains in a leading cost competitive position and continues to deliver all of its quality products
Event Location
Kuwait, Kuwait
Kuwait City
Start Time
28 August 2021, 12:00 AM
End Time
30 September 2021, 12:00 AM

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.

Naser Aldousari, President& CEO of Equate, said: “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.”

Kuwait business news 2021Kuwait Equate revenue H1 2021

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