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 a.i., External Communications

Latest News

Media Release – 25/06/2020

Borealis and Borouge, through Water for the World, support project to provide sustainable water supplies to over 50,000 people in Greater Maputo, Mozambique

Read more

Media Release – 24/06/2020

Lafarge, OMV, VERBUND and Borealis join hands to capture and utilize CO2 on an industrial scale

Read more

News – 22/06/2020

Borealis receives Innovation Award 2020/2021 for Austria's most innovative companies

Read more

News – 15/06/2020

A solution to build back better after the Covid-19: The Circular Economy

Read more

Media Release – 10/06/2020

Stopping the spread together: Borealis and paper republic unite in sustainable face mask initiative

Read more

News – 09/06/2020

Construction of world-scale propane dehydrogenation plant in Kallo, Belgium: important project milestone reached

Read more

News – 28/05/2020

Borealis renews its excellent rating in EcoVadis sustainability assessment for the fourth year in a row

Read more

News – 28/05/2020

Port of Antwerp investigates potential for reducing CO2 emissions by 50% by 2030

Read more

Media Release – 26/05/2020

Borealis appoints Erik van Praet as Vice President Innovation & Technology

Read more