UAE’s Borouge Q1 net profit grows 3% amid premium prices

SINGAPORE (ICIS)–Borouge’s net profit rose 3% year on year to $281 million in the first quarter, driven by “record” monthly production and an increase in sales volumes, the United Arab Emirates (UAE)-based polyolefins maker said on 30 April.

in $ millions	Q1 2025	Q1 2024	% Change
Revenue	1,420	1,302	9
Adjusted EBITDA	564	567	-0.6
Net profit	281	273	3

Borouge’s revenue for Q1 2025 was $1.42 billion, with sales volumes for polyethylene (PE) up 8% year on year and polypropylene (PP) up 13%.

Both PE and PP materials attracted premium prices, contributing to its revenue along with increased sales volumes, Borouge said.

The company said it continued strong operations and achieved its highest ever monthly production in March.

Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the first quarter stood at $564 million, broadly stable year on year.

“Borouge is firmly positioned on an accelerated growth trajectory having demonstrated remarkable resilience and operational excellence over the past couple of years,” said Hazeem Sultan Al Suwaidi, the CEO of Borouge.

A new entity, Borouge Group International, combining Borouge and Borealis, along with the newly acquired Nova Chemicals, is expected to be founded in Q1 2026 subject to legal and regulatory approvals.

Also, once fully operational, the Borouge 4 plant will add 1.4 million tonnes/year of capacity and is expected to contribute approximately $900 million in annual EBITDA through a typical business cycle, Borouge said.

Borouge 4 is being developed by Borouge and will be transferred to Borouge Group International at cost upon completion.

“Borouge is also closely monitoring tariff developments and is positioning itself to support its customers in key markets. The management remains confident in the company’s ability to deliver outperformance and maintain a competitive edge, even amid market volatility,” the company said.