MOSCOW, November 26. /TASS/. Net profits of Sibur under the International Financial Reporting Standards (IFRS) surged by 2.6 times year on year as of the end of nine months of 2024 to 157.8 bln rubles ($1.5 bln), the Russian petrochemical major reports.

"The net profit surged by 2.6 times to 157.8 bln rubles. The pace is related to the adverse effect of the loss from exchange rate difference totaling 105.4 bln rubles ($978.2 mln) on the prior period profit," SIbur said.

Sibur EBITDA lost 2.1% to 342.6 bln rubles ($3.2 bln) annually, largely due to exponential growth of feedstock and materials prices. The EBITDA margin stood at 40.8% as of the end of nine months of this year.

Revenues surged by 7.6% to 840.7 bln rubles ($8 bln), driven by the increase in production and sales of synthetic materials in Russia.