Download list
Locations / Sites
Contacts
Login
Back to News

Borealis again delivers solid results with a net profit of EUR 257 million realised in the third quarter of 2015

  • Borealis announces a net profit of EUR 257 million in the third quarter of 2015 compared to EUR 185 million in the third quarter of 2014
  • Borealis’ performance remains strong, including a continued solid contribution from Borouge
  • Borouge 3 start-up continues in its final phase
Key figures and ratiosQ3 

2015

Q3 

2014

YTD 

2015

YTD 

2014

Net SalesEUR million1,8702,0035,8976,350
Net ProfitEUR million257185746430
Reduction / (increase) in
net interest-bearing debt
EUR million279(114)480(283)
Gearing%25%47%

Borealis, a leading provider of innovative solutions in the fields of polyolefins and base chemicals announces a net profit of EUR 257 million for the third quarter of 2015, compared to EUR 185 million in the same quarter of 2014. The strong result reflects the continued strong integrated polyolefin industry margins, which did however begin to normalize in the second half of the quarter. Within Base Chemicals, the fertilizer business saw a lower performance compared to the same quarter of last year following operational challenges. 

In the third quarter net debt reduced by EUR 279 million due to the solid business performance and lower working capital needs. Borealis' financial position strengthened further with a financial gearing of 25% at the end of the third quarter.

Borouge 3  

Borouge, Borealis’ joint venture with the Abu Dhabi National Oil Company in Abu Dhabi, UAE, continues the successful start-up of its mega project “Borouge 3”. In April, Borouge successfully started-up the low density polyethylene plant (LD1). Now all of the five polyolefin plants are running as planned.

Borouge 3 will deliver an additional 2.5 million tonnes of capacity when fully ramped up, bringing the total Borouge capacity to 4.5 million tonnes, thus making Borouge the biggest integrated polyolefins complex in the world. Borealis and Borouge will then have approximately 8 million tonnes of polyolefin capacity.

Outlook

“Financially, the third quarter of 2015 was another solid one for Borealis. With the favourable market conditions in olefins and polyolefins, Borealis capitalised on the opportunities and realised good margins. However, the polyolefin margins started to come down in the second half of the third quarter as the European supply situation eased,” says Mark Garrett, Borealis Chief Executive. “Within Base Chemicals, Borealis continues to actively work to improve the operability of the fertilizer plants. The market environment is expected to be less favourable in the coming quarters. Borealis will continue to invest in safe and reliable operations.”

END

For further information please contact:

Kerstin Meckler
Director Communications
Tel. +43 (0)1 22 400 389 (Vienna, Austria)
e-mail: kerstin.meckler@borealisgroup.com

Downloads
Borealis again delivers solid results with a net profit of EUR 257 million realised in the third quarter of 2015 English, Dutch, Finnish, French, German, Swedish
Media Contact
Virginia Mesicek
Senior Manager External Communications

Latest News

Media Release – 01/12/2020

EverMinds™ in action: Borealis Closes The Loop pilot project in Belgium eliminates single-use cups with innovative double-closed loop system

Read more

Media Release – 26/11/2020

Borealis makes progress towards “Goal Zero” thanks to upgraded state-of-the-art water treatment system in Schwechat, Austria

Read more

News – 12/11/2020

Join the dialogue on plastics circularity on our new EverMinds blog

Read more

News – 06/11/2020

Operations during the COVID-19 pandemic, update 6 November 2020

Read more

News – 05/11/2020

New Plastics Economy Global Commitment 2020 progress report

Read more

Media Release – 05/11/2020

Joint Feasibility Study for a chemical complex in India completed, project put on hold due to COVID-19 pandemic

Read more

Media Release – 04/11/2020

Borealis delivers solid third quarter financial result in challenging yet improving market environment

Read more

Media Release – 03/11/2020

Porsche and Circularise collaborate with Borealis, Covestro and Domo Chemicals to enable the traceability of plastics in the automotive sector

Read more

News – 29/10/2020

OMV and Mubadala complete Borealis transaction

Read more