UAE’s Borouge posts net income growth in Q1

Abu Dhabi-based Borouge reported a solid financial performance in Q1 2025, with net profit rising by 3% year-over-year to $281 million, supported by record monthly production in March and a 10% year-on-year increase in sales volumes. Quarterly revenue rose by 9% to $1.42 billion, while adjusted EBITDA stood at $564 million, broadly stable compared to the same period last year, and maintained an industry-leading margin of 40%.

Production volumes climbed 7% year-on-year, with polyethylene and polypropylene utilisation rates at 101% and 98% respectively. Polyethylene sales rose 8% and polypropylene volumes surged 13%, bringing total sales volumes to 1.25 million tons.

Borouge is preparing for the formation of Borouge Group International through its combination with Borealis and acquisition of Nova Chemicals. The $60 billion global entity is expected to complete its formation in Q1 2026 and deliver annual dividends of $2.2 billion. Expansion projects, including the Borouge 4 plant, are expected to boost EBITDA by $900 million annually once operational.