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People & Business :: Companies
Borealis's Third-Quarter Earnings Drop Year-Over-Year, But Improve Sequentially
October 27, 2009 | Kerri Walsh
Borealis reported third-quarter net income down 71%, to €46 million ($68 million), on sales down 30%, to €1.3 billion. Operating profit fell 66%, to €58 million. Sales margins improved slightly, but are still below historic levels, Borealis says. This trend is not expected to change because additional volumes are scheduled to come on stream from the Middle East, the company says. Margins and sales volumes continue to be under significant pressure in the melamine and fertilizer businesses. Borealis says its earnings improved...
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