For Information: Borealis is in the process of its divesting Fertilizers, Melamine and Technical Nitrogen Products business unit (Borealis NITRO). This has resulted in the “discontinued operation” classification in the Consolidated Financial Statements. Accordingly, turnover, capital expenditure and operating expenditure, as presented in the chapter EU Taxonomy, do not include the nitrogen business unit (except Rosier as this is not part of the NITRO divestment process). All non-financial information for the reporting period 2021 includes Borealis NITRO.
1) Total net sales of Borealis and pro-rata sales of at equity-consolidated companies.
1) 2020 amounts have been restated. For further details, please refer to the Restatement section.
The record net profit for the year amounted to EUR 1,396 million, compared to a net profit of EUR 589 million in 2020. In addition to the strong operating profit, the profit contribution from Borouge and Baystar increased significantly in 2021 compared to 2020, both having benefitted from the improved market environment. The strong business result was negatively impacted by an impairment charge of EUR 444 million in relation to the assets within the scope of the divestment of the nitrogen business unit.
In 2021, Borealis net debt decreased by EUR 1,611 million to EUR 223 million, driven by an extraordinary dividend payment of EUR 1,305 million from Borouge, strong operating cash flow and regular dividend payments from Borouge. This resulted in a gearing ratio of 3% at the end of 2021, compared to 29% at the end of 2020. This gearing reflects a very strong balance sheet. Borealis benefits from a well-diversified financing portfolio and a balanced maturity profile.
For Information: Borealis Nitro (Fertilizer, Melamine and Technical Nitrogen Business) data is included.
In 2021, Borealis reported a Total Recordable Injury Rate (TRI) per million working hours of 2.3. In line with its “Goal Zero” objective, Borealis continues to strive to eliminate all accidents and incidents in process and personal safety. The Borealis leadership team maintains its efforts to sharpen the focus on safety among its employees and contractors.
Definitions have been adjusted in 2021 to be aligned with OMV definitions. A comparison to previous years is therefore not possible.
1) Includes own employees and contractors // 2) Definitions have been adjusted in 2021 to be aligned with OMV definitions. A comparison to previous years is therefore not possible.
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).
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).
1) 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. // 2) Severe upsets led to significant emergency flaring during shutdowns; furthermore, 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).
1) 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. // 2) The main reason for the increase is the integration of the plastics recycling company mtm plastics GmbH into the monthly group reporting definitions. // 3) Value has been recalculated in retrospect due to ongoing audits and missing third-party data at the time the last report was finalised.
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.
1) 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).