Download list
Locations / Sites
Contacts
Login
Back to News

Borealis announces EUR 113 million Q1 net profit in 2007

  • Borealis announces EUR 113 million net profit for the first quarter, a 13% increase over previous quarter
  • Continued investments strengthen European asset base
  • USD 3 billion in new Borouge 2 contracts to support growth in the Middle East and Asia
Key figures and ratios

(Quarter ending March 31, 2007)

Q1 

2007

Q1

2006

Q4

2006

Q1-4

2006

Sales revenueEUR Million1,4811,3321,4235,742
Operating profit / (loss)EUR Million12736108353
Net profit / (loss) after taxEUR Million11331100327
Reduction / (increase) in
net interest-bearing debt
EUR Million61(79)13658
Gearing%30%49%34%34%

Borealis, a leading provider of innovative, value creating plastics solutions, announces a net profit of EUR 113 million for the first quarter of 2007, a 13% increase over the previous quarter. Net interest-bearing debt was reduced by EUR 61 million during the quarter, and the gearing ratio decreased from 34% in the fourth quarter of 2006 to 30%.

This performance was fuelled by strong market conditions, especially in the infrastructure sector, as well as by key market sales growth and operational excellence.

Commenting on the results, Chief Executive John Taylor said: "Our Value Creation through Innovation strategy and focus on specific market sectors continue to drive sales growth and to deliver results to the bottom line."

During the quarter, Borealis announced that it will invest EUR 370 million in its Stenungsund, Sweden, operation to supply the growing wire and cable market, and confirmed that it is also on track to complete the 330,000 t/y expansion of its polypropylene facilities in Germany based on Borstar technology by the end of this year.

In April, Borouge, the company's joint venture with the Abu Dhabi National Oil Company, awarded a further USD 3 billion in contracts for Borouge 2, the major expansion project in Ruwais, Abu Dhabi, in the United Arab Emirates, that will triple annual production capacity to two million tonnes of polyolefins.

END

For further information please contact:

Borealis: Craig Halgreen, Group Communications Director,
Tel. +43 122 400 334
Email: media@borealisgroup.com

Downloads
Borealis announces EUR 113 million Q1 net profit English, German
Media Contact
Virginia Mesicek
Senior Manager a.i., External Communications

Latest News

News – 30/03/2020

Borealis takes steps to secure supply chains for healthcare and food packaging sectors

Read more

News – 30/03/2020

Project STOP update: Latest achievements in Muncar, Indonesia

Read more

News – 17/03/2020

Operations during the Coronavirus disease (COVID-19) outbreak

Read more

News – 12/03/2020

OMV signs agreement to increase its shareholding in Borealis to 75%

Read more

News – 12/03/2020

Annual Report 2019 published

Read more

Media Release – 10/03/2020

Borealis producing certified renewable polypropylene at own facilities in Belgium

Read more

Media Release – 05/03/2020

Borealis and Webster Vienna Private University continue their successful scholarship endowment program

Read more

Media Release – 27/02/2020

Borealis delivers strong financial result in softening market environment

Read more

News – 21/02/2020

Pasuruan regency partners with Project STOP and Nestlé to create a sustainable waste management and help reduce ocean plastic pollution

Read more