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Borealis announces financial results for Q3

by ChemOrbis Editorial Team - content@chemorbis.com
  • 12/11/2014 (12:10)
According to a statement dated November 7 on the company’s website, Austria’s Borealis has announced its financial results for the third quarter of 2014. The company’s net income reached €185 million ($230 million) in the third quarter when compared to the income of €131 million ($163 million) reported in the same period of the previous year.

The increase was attributed to stronger margins for the company’s polyolefins and olefins businesses and the startup of the Borouge 3 complex, through which Borouge will increase its polyolefins production to 4.5 million tons/year.

Meanwhile, the company’s net debt for the third quarter reached €114 million ($142 million) due to an increase in working capital needs while its net sales declined to €2 billion ($2.5 billion) in the third quarter from €2.04 billion in the same period of 2013.
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