ZAO Sibur Holding, eastern Europe’s biggest petrochemicals producer, posted a 54 percent increase in earnings on higher output and prices.

Net income surged to 62.8 billion rubles ($2 billion) in 2011, the Moscow-based company said today in a statement.

Revenue increased 32 percent to 248.66 billion rubles, while earnings before interest, taxes, depreciation and amortization climbed by 49 percent to 86.67 billion rubles.

To contact the reporter on this story: Yuliya Fedorinova in Moscow at yfedorinova@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net