Borealis reports financial results for Q2
Despite weaker results in the second quarter, the company reached a record net profit of €574 million ($673.9 million) in the first half of 2017. The company’s net profit in the second half of the year mainly found support from Borouge’s higher profit contribution.
In the April-June period, Borealis’ consolidated revenue was up by 5% from a year earlier to reach €2.25 billion ($2.6 billion) on the back of higher polyolefin prices.
Meanwhile, the company’s net debt decreased by €112 million ($131.4 million) in the second quarter in line with strong financial performance as well as more investments on growth projects and turnarounds.
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