4.55 billion dirhams profits "Porridge" In 2024 a growth of 24%

Abu Dhabi, February 4/ WAM/ Beruj BLC increased by 24% on an annual basis in its net profit for the year 2024 to reach 4.55 billion dirhams “$ 1.24 billion” supported by record production and sales sizes.
Bruges witnessed continuous growth and tangible rise in performance levels, crying out its leading position in this industrial sector, based on high production rates, a strong international marketing network, and its use of the latest tools and solutions of advanced technology with a global level to innovate and provide the necessary products to meet the increasing requirements and needs of customers.
Bruges continued to focus on achieving distinct profits rates compared to their counterparts from international competing companies in the sector, by achieving a profit margin before deducting benefits, taxes, destruction and consumption by 41% for the year 2024.
The company’s profits, before deduction of interest, taxes, depreciation and consumption, increased by 14% on an annual basis to reach 9.10 billion dirhams “2.48 billion dollars”, driven by the annual revenue increasing by 4% to 22.13 billion dirhams “6 billion dollars”.
Through its operating performance, the company recorded a record production of 5.2 million tons, driven by exceptional use rates for polyethylene, amounting to 110% and 98% for polypropylene.
The company’s sales volumes also reached its highest level, which is 5.3 million tons, supported by the strategic position it enjoys in high -growth markets throughout Asia, the Middle East and Africa, in addition to the company’s strong relations with customers through its international network that includes 14 sales offices And marketing.
Hazim Sultan Al -Suwaidi, CEO of Buruj, said: The company has achieved significant growth in the returns in 2024 while maintaining a strong profit rate despite the challenges in the global petrochemical sector.
He added that these results contribute to the consolidation of the “Borouge” financial and operational status, noting that the strategic expansion project Bruges 4 will increase the size of the company’s production by about a third to enhance its innovative capabilities, and leads to increasing sales growth in the main markets.
He pointed out that “Buruj” is implementing a comprehensive program in digital transformation and artificial intelligence, as it really contributes to enhancing productivity and also helps to reformulate our operational operations in the coming years.
Al -Suwaidi said: “Bruges” intends to maintain dividends of 4.8 billion dirhams “1.3 billion dollars” for the fiscal year 2025, which is currently returning to the profit distributions by 6.3%.
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