Borealis warns of lower proft this year

摘要

Borealis reports a 5% decline in fourth-quarter net proft to ?141 million ($157.9 million) on 6% lower sales of ?1.98 billion. Full- year 2014 net proft, however, was up 35% to ?571 million, with sales advancing 3% to ?8.33 billion. The improved annual result was driven by stronger margins in olefns and polyolefns and an improved contribution from Borouge, Borealis’s joint venture in Abu Dhabi, following the startup of the Borouge 3 project. In base chemicals, the fertilizer business did not deliver as well as expected due to operational difculties at the newly acquired plants in France, the company says.