Borouge Achieves Stellar $1.1 Billion Net Profit in 2025 Driven by Operational Excellence and Record Sales

2025 Q4 production and capacity utilization hit record highs.

Borouge delivered a strong operational performance in the fourth quarter, with quarterly production reaching a record high of 1.46 million tonnes and capacity utilization also reaching an all-time peak. Production capabilities were further enhanced after the company's most complex and largest-ever Borouge 3 turnaround project was completed ahead of schedule and on budget in the second quarter.

Increased production this quarter drove a 21% sequential increase in sales volume, reaching a record high of 1.64 million tons. Revenue increased 16% sequentially to $1.68 billion, and net profit increased 12% sequentially. At the same time, the company continued to achieve strong premiums above industry benchmark prices thanks to its differentiated product portfolio.

Borealis continued its strategic focus on high-value businesses in the fourth quarter, including infrastructure solutions, which accounted for 39% of total quarterly sales, a 3-percentage-point increase compared to the previous quarter. The company continued to direct its products to markets with the highest net returns, with Asia Pacific accounting for 59% of sales and the Middle East and Africa accounting for 32%.

Full-year results reflect stable demand and solid profit performance.

Borouge achieved revenue of USD 5.85 billion in FY2025. Polyethylene (PE) and polypropylene (PP) price premiums remained strong at USD 224/tonne and USD 134/tonne, respectively, despite weaker benchmark prices in the second half. Full-year sales reached a record high of 5.4 million tonnes.

Adjusted EBITDA reached $2.17 billion in 2025, benefiting from a differentiated product portfolio and robust demand in high-value segments, with strong margins maintained at 37%. Full-year net profit reached $1.1 billion, with a net profit margin of 19%, once again demonstrating the company's earnings resilience. Borouge maintained rigorous cost management throughout the year, further demonstrating the company's strong capabilities in production and operations.

16. 2 fils per share dividend confirmed for fiscal year 2025

Borouge reaffirmed its plan to pay a higher dividend of 16.2 fils per share for the 2025 fiscal year, with the second-half dividend to be distributed in April 2026 following shareholder approval. Following the formal establishment of Borouge Group International PLC and receipt of relevant approvals, the company expects to maintain at least the same dividend level through 2030. The company continued its share buyback program in 2025, with 212 million shares repurchased by the end of the fourth quarter, reflecting management's strong confidence in Borouge's long-term business performance and cash generation capabilities.

博禄稳健的股息纪录以及具有吸引力的股息收益率，也使其成功入选富时阿布扎比证券交易所股息明星指数（FTSE ADX Dividend Stars Index），彰显了公司在阿布扎比证券交易所（ADX）上具有最高和最一致的股息水平。

After achieving positive results of US$607 million through the Value Enhancement Programme in 2023 and carrying this momentum into 2024 and beyond, Borouge continued to implement stringent cost control and revenue enhancement measures in 2025. This enabled the company to deliver solid operational results even in a challenging market environment.

2025财年，博禄通过其人工智能、数字化与技术项目创造了7.17亿美元的价值，大幅超过5.75亿美元的年度目标。公司还与霍尼韦尔成功启动概念验证项目，为博禄在鲁韦斯的生产基地打造全球石化行业首个完全由人工智能驱动的自主控制室奠定了基础。

The company is currently advancing several growth projects, among which the Borouge 4 mega-expansion project, upon full production, will add 1.4 million tonnes of annual capacity, significantly enhancing Borouge's profitability and market coverage. Borouge 4 will also become one of the core assets of Borouge Pte Ltd, expected to be transferred at cost and with flexibility in the timing of the transfer.

As the first production facility of the Borouge 4 mega-project, the second cross-linked polyethylene unit (XLPE 2) commenced trial operations at the end of 2025 and is scheduled for official start-up in the first quarter of 2026. This facility is designed for highly specialized wire and cable material solutions. The remaining units of Borouge 4 are expected to progressively enter the trial operation phase in 2026.

The Front-End Engineering Design (FEED) for the Ethane Cracker Unit 2 (EU2) expansion project has been completed, and the company plans to initiate the award of the Engineering, Procurement, and Construction (EPC) contract later this year. Borouge has awarded EPC contracts for the expansion and revamp of its fourth polyethylene (PE4) and fifth polyethylene (PE5) production units. The company has also completed the feasibility study for the Ethane Cracker Unit 3 (EU3) expansion and is progressing pre-FEED activities.

为了兑现对创新的承诺，博禄在2025年推出10款全新的差异化产品，其中包括其首款阿联酋本土生产的医疗级低密度聚乙烯（LDPE）产品、为极石汽车的新能源车型开发的先进材料解决方案，以及循环产品解决方案：以机械回收聚烯烃为原料的Recleo™产品组合，以及一款适用于先进包装应用的Borstar®新产品，有助于节能并减少食物浪费。这些最新产品助力公司的创新组合在2025年创造了破纪录的9,400万美元价值。

博禄的循环产品解决方案销量在2025年增长了20%，反映出该类产品在此细分市场的贡献度正在持续提升。自2018年启动能源效率路线图以来，博禄到2025年为止，每年已累计实现超过50万吨的二氧化碳减排。公司还扩大了其排放报告范围，纳入了范围 3排放（所有其他间接温室气体排放），以进一步增强其在整个产业链中实现碳减排的能力。

Borealis AG

The proposed Borouge Global Corp. is progressing well and is expected to be completed in the first quarter of 2026, having already obtained most of the pre-closing regulatory approvals. This global polyolefin industry giant, formed by Borouge, Borealis, and the proposed acquisition of NOVA Chemicals, still awaits confirmation of its final completion date upon obtaining all remaining regulatory approvals. Once the transaction is finalized, it is expected to generate significant synergies, adding over $500 million in annual EBITDA, with approximately 75% of these synergies anticipated to be realized within three years of closing.

While short-term market prices will likely continue to fluctuate, the company is well-prepared to navigate market uncertainties by focusing on differentiated products, rigorous cost management, and operational excellence. Demand growth in the Asia Pacific and Middle East regions is expected to continue to outpace other fully developed markets. With the planned Borouge 4 new production facility scheduled to come on stream in 2026, coupled with ongoing cost control, digitalization, and efficiency improvement initiatives, the company's long-term profitability is expected to be further enhanced and shareholder returns will be steadily supported.