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Borouge Qtrly Profit $109 Million

By Reuters News

Oct 29 (Reuters) - BOROUGE BOROUGE.AD:

  • QTRLY NET PROFIT WAS $109 MILLION

  • Q3 SAW HIGHER SALES VOLUMES

  • Q3 SAW DECLINE IN AVERAGE REALISED SELLING PRICES

  • Q3 REVENUE $1.4 BILLION

  • Q4 EXPECTED TO BE THE STRONGEST QUARTER OF FY 2026

  • Q3 SAW SALES VOLUMES INCREASED QOQ

  • ANNUAL DIVIDEND INTENTION OF 16.2 FILS PER SHARE REMAINS IN PLACE

  • Q3 SAW IMPROVED ETHANE SUPPLY

  • PROPOSED TENDER OFFER AND LISTING OF BOROUGE INTERNATIONAL TARGETED FOR 2027

  • AVERAGE UTILISATION INCREASING FROM 76% IN Q3 TO ABOVE 90% IN OCTOBER

  • ALL AVAILABLE PRODUCTION SHIPPED WITHOUT DEPENDENCE ON THE STRAIT OF HORMUZ

  • PROPOSED TENDER OFFER AND LISTING OF BOROUGE INTERNATIONAL TARGETED FOR 2027,

  • GLOBAL POLYOLEFIN BENCHMARK PRICES HAVE BEEN HIGHER IN OCTOBER COMPARED TO Q3 2026

  • PRODUCED 0.95 MILLION TONNES IN Q3 2026,

  • SALES VOLUMES INCREASED 22% QOQ TO 1.07 MILLION IN Q3 2026

  • IMPROVED PRICING DESPITE CONTINUED HIGH LOGISTICS COSTS EXPECTED IN Q4

  • Q3 SAW INCREASED EXPORTS TO ASIA

  • Q3 SAW AVERAGE REALISED SELLING PRICES INCREASED 22% YEAR ON YEAR,

  • MAINTAINED PRODUCT PREMIA WELL ABOVE GUIDANCE IN Q3 AT $301 AND $156 PER TONNE FOR POLYETHYLENE AND POLYPROPYLENE RESPECTIVELY

  • NEW CROSS-LINKED POLYETHYLENE (XLPE) PLANT ALSO CONTINUED TO RAMP UP PRODUCTION DURING Q3

  • WELL POSITIONED TO MEET GROWING DEMAND FOR POWER TRANSMISSION AND DATA CENTRE INFRASTRUCTURE ACROSS ASIA AND MIDDLE EAST

  • CONTINUED TO ADVANCE BOROUGE 4 GROWTH PROJECT, WHICH IS SET TO INCREASE POLYETHYLENE PRODUCTION CAPACITY BY 1.4 MILLION TONNES PER ANNUM

  • REACHED MECHANICAL COMPLETION AND COMMISSIONING OF ITS PE7 PLANT AT BOROUGE 4, ADDING 700,000 TONNES OF ADDITIONAL CAPACITY

  • BOROUGE INTERNATIONAL RECORDED STRONG SALES GROWTH OF 11% AND AN EBITDA MARGIN OF 18.4% IN Q3

  • INTEGRATION OF BOROUGE INTERNATIONAL CONTINUES TO PROGRESS WELL

Source text: [ID:]

Further company coverage: BOROUGE.AD

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