PROJECT OLYMPUS Initiated in 2020, Project Olympus is our overarching cost transformation program. Currently, we are ahead of schedule for this project’s second year by +2% in terms of cost-savings and on track to meet our 2023 target of US$ 610 million. Encouraged by an internal assessment and outstanding performance over the past two years, whereby we over delivered in the past two years, we identified further initiatives in multiple areas so that we can achieve cost excellence and increased our Project Olympus ambition to deliver US$ 670+ million in EBITDA on an annual basis by 2024 comprising over 100 cost transformation and full business potential initiatives. Target delivery Unit : US$ million 92 2020 2021E 2023F 2024F 280-290 610 650-690 +21% vs plan +2% vs plan 37 SUSTAINABILITY REPORT 2021 DRIVING IVL’S BUSINESS GROWTH To support our growth and achieve our sustainability ambitions, we developed six enabling functions which are steered by experienced professionals identified within the organization and recruited from the industry. These enabling functions will help us execute our strategic and operational plans in line with our vision and mission. Business Continuity Value protection and creation through consistency, compliance and effective risk and BCM practices Communications Strategic communications that promote our global business value Digital Offering world-class digital capabilities that drive business value and create a competitive advantage Environment, Health and Safety (EHS) Supporting our prosperity by ensuring that people and our planet are safe Sustainability Driving the creation of ESG and circular value and becoming a world-class sustainable chemical company Challenges in each business segment New requirements and expectations External pressures and global trends Enhance internal capacity (Operations and skills) Positive engagement among employees and functions Become a sustainable, learning and future ready organization Inputs Outputs Six Enabling Functions Indorama Ventures Excellence (IVEX) Overseeing Lean Six Sigma implementation throughout IVL to enhance our operational capacity and efficiency Overdelivered in last two years; confident of hitting targets by 2024 2023 target delivery sources By segment By region By initiative Fibers CPET IOD Asia America EMEA Ops Excellence Sales Excellence Indirect Proc Direct Proc Footprint OFP Value to come frommultiple sources and initiatives, reducing potential delivery risk Responsible Business and Effective Governance Driving Sustainable Value Creation and Growth Towards Net Zero Carbon Empowering Our People and Communities Global Performance Data GRI Standard Content Index
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