Abu Dhabi, UAE — Borouge has reported a substantial $281 million net profit for the first quarter driven by record monthly production in March, an increase in sales volumes and continuous cost discipline.
Q1 2025 operational performance remained strong, with production volumes rising 7 percent year-on-year in the first quarter of 2025. Overall asset reliability remained strong, achieving 94.4 percent by the end of the quarter, with polyethylene and polypropylene utilization rates at 101 percent and 98 percent, respectively, underscoring the company’s operational excellence and efficiency.
Demand for high-value product segments was robust in the core growth markets of Asia Pacific, the Middle East, and Africa. Total sales volumes increased 10 percent year-on-year in the first quarter to 1.25 million tons, driven by substantial growth of 8 percent in polyethylene and 13 percent in polypropylene sales volumes.
Borouge’s differentiated and high-quality materials continued to attract premium pricing, with prices for polyethylene and polypropylene averaging $224 and $154 well above the company’s through-the-cycle guidance, respectively.
Hazeem Sultan Al Suwaidi, Chief Executive Officer of Borouge, commented, “Borouge is firmly positioned on an accelerated growth trajectory having demonstrated remarkable resilience and operational excellence over the past couple of years. This gives us strong confidence as we enter a new phase of transformational growth with Borouge Group International.”
He added that a core focus of Borouge’s strategy remains on delivering superior value to shareholders, demonstrated by Borouge’s intention to further increase the dividend to 16.2 fils per share for 2025 – which will also serve as the intended minimum share payout up to 2030 under Borouge Group International.
Revenue in Q1 2025 grew 9 percent year-on-year to $1.42 billion, driven by higher average selling prices and increased sales volumes. The strong performance reflects the growing demand for the company’s differentiated energy and infrastructure solutions, which contributed 38 percent of total sales volumes during the quarter. Average sales prices for polyethylene and polypropylene each rose 2 percent quarter-on-quarter.
Following the company’s 2025 Annual General Meeting (AGM) on 7th April, shareholders approved a final dividend of $650 million for 2024 which was paid on 28th April 2025, bringing the total 2024 dividend payout to $1.3 billion – equivalent to 15.88 fils per share. This brings the total dividend distributed to shareholders since the company’s IPO in 2022 to a significant $3.58 billion.
