Kuwait's EQUATE Petrochemical Group has announced a net profit of $308 million for the year 2023. According to a press release, the company's total revenue for the same period reached $3.1 billion, with earnings before interest, tax, and depreciation amounting to approximately $862 million.
 
Despite challenging economic market conditions and uncertainties in the macroeconomic landscape, EQUATE Petrochemicals maintained strong performance. The company strategically invested in higher-value regional markets, leveraging its competitive advantages and regional trade initiatives to drive demand growth.
 
The CEO of EQUATE Group, Nasser Al-Dosari, highlighted the company's strong operational performance in 2023. Despite significant challenges, the group successfully completed maintenance of its various plants without causing any notable impact on its overall performance. Al-Dosari also emphasized EQUATE's strengthened global position in operational reliability and safety.
 
As one of the world's leading petrochemical producers, EQUATE Petrochemical Group operates industrial complexes in Kuwait, North America, and Europe. It produces over 6 million tons per annum of various products including ethylene, ethylene glycol, polyethylene, polyethylene terephthalate, styrene monomer, brasilin, heavy aromatics, and gasoline. Additionally, it is the second largest producer of ethylene glycol globally.