Mohammadreza Heydarzadeh detailed the company’s performance over the past three years during a briefing on Monday.

Heydarzadeh stated that the company’s production in 2022 was 1.784 million tons, which increased by 3% to 1.961 million tons by late-March 2024, marking a record high. He expects this record to be surpassed by the end of this year.

He added that AryaSasol’s sales volume in the Iranian year of 1402 (ended March 2024) rose by 5% to 1,163 tons, while sales revenue increased by 23% to 338 trillion rials, an unprecedented figure in the company’s history.

By the end of the first 10 months of the current Iranian year (January 19), sales revenue reached 383 trillion rials, reflecting a 41% growth compared to the same period last year.

5% increase in operating profit

The CEO highlighted a 5% rise in operating profit, noting that net profit also increased by 5% accordingly.

Heydarzadeh emphasized that the company’s primary focus is completing developmental projects in the coming years.

The most significant of these is the construction of a new high-density polyethylene unit. This project, which began in 2020, had only achieved 18% progress by the end of the Iranian year 1400. However, it has now surpassed 50% completion, and the company aims to finalize it by September 2026.

He explained that critical equipment for the project, including extruders, has already been ordered. Currently, a portion of the company’s ethylene production is exported in raw form, but the completion of this project will eliminate raw ethylene exports. Additionally, the company will be able to process surplus ethylene from other petrochemical plants. Once operational, the project is expected to add $100 million annually to the company’s profits.

Export market development

Heydarzadeh also outlined other developmental projects, including the 10th furnace, the marine pipeline, and the C3+ project, all of which are critical and slated for completion in the coming years.

He noted that over the past two years, the company has focused on expanding export markets, as previous reliance on brokers had limited market reach. Through direct sales, the company’s export markets grew from 16 countries in 1401 to 23 in 1402 and 32 by November 2024. This expansion led to a 15%, 15%, and 14% increase in sales profit compared to broker-based sales in each respective year.

Self-sufficiency and innovation

Heydarzadeh also announced the formation of a self-sufficiency committee and an innovation center within the company. Collaborating with various knowledge-based companies, universities, and defense ministry sectors, Aryasasol has designed initial blueprints and technical packages for over 6,000 components. Since 2018, these efforts have resulted in economic savings of 1.676 trillion rials.