Borealis posts strong profit, Borouge likely to add 1 million m.t.

摘要

Borealis (Vienna) reports net profit in the fourth-quarter rose 72% to ?242.0 million ($264.6 million). Sales dropped 9% year-on-year (YOY) to ?1.8 billion. The improved earnings was driven by overall stronger margins in the polyolefins business, a higher contribution from the base chemicals operation and an improved contribution from Borouge, Borealis’s joint venture in Abu Dhabi, following the start-up of the Borouge 3 project. Within base chemicals, the fertilizer business saw operational improvements but the overall operability is not yet at the desired level, the company says.