Skip Navigation Links

Borealis | Strategy and Financial Highlights Information from ICIS

 

Borealis states states that it is ‘well prepared’ for an industry upswing, which it expects to start in 2011 and beyond.

  

The company will continue to maintain its investments in long-term growth drivers such as the new low density polyethylene (LDPE) plant in Stenungsund, Sweden, which is expected to be inaugurated in June 2010; the expanded headquarters in Linz, Austria; Borouge 2, which is expected to triple the polyolefins capacity at its Abu Dhabi joint venture to 2m tonnes/year; and Borouge 3, which will add an additional 2.5m tonnes/year of polyolefins capacity in the Middle East.

 

Please also see the ICIS plants and projects database .

 

In addition, the company will continue to focus on cost competitiveness and cash generation.

 

Borealis’s key strategy includes:

 

(1)   Growing its business in infrastructure, automotive and advanced packaging;

(2)   Expanding the Abu Dhabi complex to supply growth in the Middle East and Asia;

(3)   Strengthen its European base, ensuring cost competitiveness from feedstocks to customers;

(4)   Develop its base chemicals business;

(5)   Pursue operational excellence, considering safety at all times;

(6)   Achieve a step change in innovation;

(7)   Exceed in serving its customers with a focus on quality and reliable execution; and

(8)   Build a cross-cultural organisational capability.

 

Its financial strategy includes:

 

(1)   Outperform financially;

(2)   11% + average return on capital employed (ROCE) after tax; and

(3)   40%-60% debt to equity ratio. 

 

“We will continue to do what we are good at: providing the innovative solutions our customers expect. What makes me confident about our success is that IPIC and OMV, as our shareholders, are standing behind our long term strategy,” concludes Garrett.

 

Please see Interview: Borealis poised for chem industry upswing – CEO on ICIS news

 

Download the The ICIS Top 100 Chemical Companies listing here

 

Financial highlights: Borealis, year ended 31 December

 

2010

 2009

 2008

 2007

 2006

Sales (€ m)

6,269

4,714

6,697

6,350

5,742

Operating Profit (€ m)

349

24

163

451

353

Net Profit (€ m)

333

38

239

533

327

Total Assets (€ m)

5,630

4,816

4,828

 4,631

3,671

Number of Employees

5,075

5,215

5,395

5,060

4,639

 

Currency Converter by OANDA.com, The Currency Site.

Borealis Company Structure

Borealis is a fully integrated petrochemical company. Since June 2005, Borealis is owned by the International Petroleum Investment Company (IPIC) of Abu Dhabi (64%) and by OMV, the Austrian oil and gas group (36%). Borealis was previously owned by Statoil (50%), OMV (25%), and IPIC (25%). It became operational in March 1994.
More about Borealis Structure

News:

Get news on Borealis plus the latest chemical news, information, data, market movements and analysis in one place with ICIS news

Search:

Find details on other chemical companies and suppliers with ICIS search

Newsletters:

ICIS offers a range of FREE e-newsletters to ensure that you don't miss out on the latest development and key market intelligence in your industry. If you want the latest news sent to your inbox, sign up for ICIS e-newsletters today.

Plants and projects:

Find out more about current and planned chemical plants and projects by subscribing to our comprehensive database

 
Free trial to ICIS
Barbara Ortner - Chemicals Confidential Blog
Take a look at the off-beat side of reporting on the global chemicals industry with Barbara Ortner who reports from key industry events and behind the scenes at training sessions across three continents by clicking on to ICIS Chemicals Confidential.

Insight

INSIGHT: China’s apparent PE demand is too good to be true
“China’s PE demand on an apparent basis was up by a staggering a 25% in January-May this year over the same period in 2012.” more

VIDEO: ICIS Special Report - Asia methanol, acetic acid

More...

We welcome your feedback. Please feel free to send us your comments on any aspect of this site. Click here to make your comments.