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Reviewing 2020

Key Financial Metrics

Total Sales *)

*) Total net sales of Borealis and pro-rata sales of at equity consolidated companies.

Net Sales

Net Profit

For the full year 2020, the company recorded a net profit of EUR 589 million, compared to EUR 872 million in 2019. The 2020 result was negatively impacted by the lower oil price environment, which resulted in reduced light feedstock advantage and negative inventory effects in Europe, and a lower polyolefins price environment in Asia. Additionally, a deteriorating fertilizer market environment negatively impacted the financial result. Despite the COVID-19 pandemic, demand for polyolefins remained healthy, leading to a slight sales volume increase compared to the level of 2019.

Roce

Gearing

Over the full year 2020, net debt increased by EUR 264 million. Operating cash flow in 2020 exceeded the level of 2019, allowing for ongoing investments in large growth projects, acquisitions and the payment of a EUR 300 million dividend for 2019 to Borealis shareholders. Borealis financial position remained strong, with a gearing of 29% at year-end 2020.

*) Amounts from 2016-2019 have been restated due to reclassification.

Sustainability Metrics

Total Recordable Injuries *)

In 2020 Borealis reported a Total Recordable Injuries (TRI) frequency per million working hours of 1.7. This represents a reduction in safety performance versus the 1.6 recorded in 2019. While a TRI rate of 1.7 is still world-class in the industry, this result is below our expectations and Borealis must continue to improve its safety culture in order to reach its ambitious “Goal Zero” of no accidents or incidents whatsoever.

*) Includes own employees and contractors.

EU ETS CO2 Emissions

*) Environmental data might be subject to minor adjustments due to ongoing audits and missing third-party data at the time of closing of this report.

EU Emission Trading Scheme (ETS) CO2 emissions: All greenhouse gas emissions (GHG) as per the European ETS expressed in CO2 equivalents (since 2009 this indicator has replaced the reporting of direct carbon dioxide emissions).

Energy Consumption

*) Environmental data might be subject to minor adjustments due to ongoing audits and missing third-party data at the time of closing of this report.

Primary energy consumption: Consumption of all energy vectors (i.e. fuels, electricity and steam). Electricity and steam are converted into primary energy with standard conversion factors of 40% (electricity) and 90% (steam).

Flaring Performance

*) Environmental data might be subject to minor adjustments due to ongoing audits and missing third-party data at the time of closing of this report. Severe upsets led to significant emergency flaring during shut-downs; further there was a lack of recycling capacity.

Flaring losses: All streams sent to the flare, except streams that assure a constant flame (e.g. fuel gases to pilot burners, fuel gas purges to flare lines for safety reasons, steam, nitrogen).

Waste Generation

*) Environmental data might be subject to minor adjustments due to ongoing audits and missing third-party data at the time of closing of this report. // **) The main reason for the increase is the integration of the plastics recycling company mtm plastics GmbH into the monthly group reporting definitions.

Waste generation: Generation of all waste at company locations during normal operation as well as during special projects. Any substance or object that is to be discarded is included in the definition of waste. Exceptions are atmospheric emissions, liquid effluents and by-products with commercial value.

Water Withdrawl

*) Environmental data might be subject to minor adjustments due to ongoing audits and missing third-party data at the time of closing of this report.

Water consumption: Total amount of fresh water withdrawn from surface or groundwater sources for any type of usage (e.g. cooling, steam generation, cleaning, sanitation).

Combined Annual Report 2020 (PDF)

English and German Version available

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Disclaimer

This online report contains only highlights and excerpts from Borealis’ Combined Annual Report 2020. Only the entire report is legally binding and it must be read in full to gain a comprehensive understanding of Borealis’ performance and activities in 2020. A copy of the Combined Annual Report 2020 can be downloaded here.