Regions :: Western Europe
Borealis's net profit grows 67% driven by polyolefins
7:57 AM MDT | May 14, 2014 | Francinia Protti-Alvarez
Borealis reports €102 million ($140.1 million) in net profit for the first quarter, growing about 67% year-on-year (YOY), driven by a better performance by the company's polyolefins business. Net sales amounted to €2.26 billion, up 14% YOY. The company has not provided Ebitda figures or revenue on a segment-by-segment basis. "[The results are] in line with what we expected because we had [the] Borouge 1 and 2 [joint venture complexes] in turnaround at this time last year; when you take Borouge 1 and 2 off-line, that is a big profit contributor that...
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