Locations / Sites

Reviewing 2022

Key Financial Metrics

For Information: As described in the Notes to the Consolidated Financial Statements, 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 2022 includes Borealis NITRO.

Total Sales 1)

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

Total Sales and Other Income

Net Profit

The record net profit for the year amounted to EUR 2,111 million, compared to a net profit of EUR 1,396 million in 2021. The reduction in operating profit was almost fully offset by the increased contribution from Borealis joint ventures, rising from EUR 595 million in 2021 to EUR 1,001 million in 2022.



In 2022, Borealis net interest-bearing debt decreased to EUR -70 million at year end, down from EUR 223 million at the end of 2021. This resulted in a gearing ratio of -1% at the end of 2022, compared to 3% at the end of 2021. This gearing reflects a very strong balance sheet. Borealis benefits from a well-diversified financing portfolio and a balanced maturity profile.

Sustainability Metrics

For Information: Borealis Nitro (Fertilizer, Melamine and Technical Nitrogen Business) data is included.

Total Recordable Injuries 1)

In 2022, Borealis reported a Total Recordable Injury Rate (TRIR) per million working hours of 2.9. This is a deterioration compared to the TRIR rate of 2.3 in 2021.

In line with its “Goal Zero” aim to eliminate all accidents and incidents, Borealis has developed and implemented new measures to enhance safety performance, including the new “B-safe” programme, whose pilot was launched in December in Belgium. B-safe will be successively rolled out across the Borealis Group by mid-2024.

1) Includes own employees and contractors.

EU ETS CO2 Emissions

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

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

1) 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).

Waste Generation

1) 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 Withdrawal

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 2022 (PDF)

English and German Version available

Download full version

This online report contains only highlights and excerpts from Borealis’ Combined Annual Report 2022. 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 2022. A copy of the Combined Annual Report 2022 can be downloaded here.