Business
UAE: Borouge announces $193mln Q2 net profit
UAE: Borouge announces $193mln Q2 net profit
About this update from Borouge Plc
Staff WriterABU DHABI - Borouge Plc, a leading petrochemicals company providing innovative and differentiated polyolefins solutions, today announced a net profit of $193 million for the second quarter of 2025, exceeding market expectations.The results reflect disciplined execution of the planned Borouge 3 turnaround, with the company maintaining strong margins and healthy cash generation on the back of effective cost management and sustained premia across its high-value product mix.The Borouge 3 turnaround was successfully executed during the quarter, completed safely, within budget and delivered eight days ahead of schedule.As the largest and most complex turnaround to date, the company optimised downtime by 15 percent, reflecting the efficiency of company’s planning and execution teams.These planned, regular six-year maintenance turnarounds are essential to servicing Borouge’s world-class assets and maintaining high utilisation rates and production volumes.Adjusted EBITDA for the second quarter was $440 million, reflecting performance above expectations during the planned Borouge 3 turnaround. Borouge maintained a healthy EBITDA margin of 34 percent, supported by product mix optimisation throughout a scheduled major maintenance event.Hazeem Sultan Al Suwaidi, Chief Executive Officer of Borouge, commented, “Borouge’s results are underpinned by healthy cash flows, disciplined execution and strong pricing premia, following the successful completion of the planned Borouge 3 turnaround, our largest to date."He added, "Reflecting our commitment to delivering shareholder value, we reaffirm our intention to increase Borouge’s dividend to 16.2 fils per share for 2025 and our proposed H1 2025 dividend of 8.1 fils per share to be paid in September. The increased dividend is also expected to serve as the intended minimum share payout to at least 2030 under Borouge Group International.”Strong pricing premia above product benchmark prices for polyethylene (PE) and polypropylene (PP) remained a key highlight of the quarter, with $249 per tonne achieved for PE and $141 per tonne for PP, both exceeding management’s through-the-cycle guidance.Supported by Borouge’s ability to reallocate volumes to maximise netbacks, its differentiated portfolio and disciplined execution, the company sustained premium positioning despite softer market conditions.Borouge reported revenue o...