United Arab Emirates · Delayed Price · Currency is AED Borouge Earnings Call Transcripts
Fiscal Year 2025
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Record production, sales, and profitability were achieved in 2025, with strong cash flow and industry-leading margins despite softer pricing. Strategic growth projects, innovation, and disciplined cost control position the company for continued outperformance and value creation.
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Q3 2025 saw record production, a 52% net profit increase quarter-on-quarter, and a 39% EBITDA margin, with strong cash flow and high-value product focus. Dividend guidance is reaffirmed, Borouge 4 is nearing completion, and $500M+ in annual synergies are expected from upcoming transactions.
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Q2 2025 saw strong net profit and operational execution despite a major turnaround, with robust sales in high-value segments and continued cost discipline. Market conditions remain challenging, but high utilization and dividend guidance are expected for H2.
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Q1 2025 saw 3% net profit growth to $281M and 9% revenue growth, with strong margins and cash flow. Dividend guidance was raised, a share buyback launched, and the Borouge Group International integration is on track for 2026, targeting $7B EBITDA.
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A transformational merger will create a top-four global polyolefins producer, combining Borouge, Borealis, and Nova Chemicals under Borouge Group International. The new entity targets over $7 billion EBITDA, $500 million in annual synergies, and a robust, accretive dividend policy, with balanced global operations and strong innovation capabilities.
Fiscal Year 2024
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Record production and sales volumes in 2024 drove a 24% net profit increase and robust cash flow, supporting a $1.3 billion dividend. 2025 will see higher CapEx due to major maintenance, with sales and pricing expected stable in Q1.
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Record Q2 production and sales drove a 33% year-on-year net profit increase, with strong EBITDA margins and robust cash flow. Strategic project execution and cost discipline underpin continued high dividends and growth, while Borouge 4 and China expansion progress on track.