IHS Chemical Week

People & Business :: Earnings/Finance

Borealis reports improved results; Borouge 3 in start-up phase

3:34 AM MST | November 8, 2013 | Natasha Alperowicz

Borealis today reported an improvement in sales and profits and said that the polyolefins business saw some improvement in margins. Fertilizer margins, in contrast, have deteriorated as the company experienced some challenges with the newly acquired GPN assets. Borealis’s net profit for the third quarter rose 2% to €131 million ($175.9 million) on sales 6% higher at €2.04 billion. Speaking to CW this morning Daniel Shook, Borealis’s CFO said that two-thirds of the profits came from Borouge, Borealis’s joint venture in Abu Dhabi.  ...

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