1.03 billion dirhams net profits "Porridge" In the first quarter
ABU DHABI, April 30/ WAM/ Borouge BLC, one of the petrochemical companies specializing in providing innovative and varied urine solutions, has announced large net profits of 1.03 billion dirhams (281 million dollars) for the first quarter of 2025, driven by registering record monthly production last March, increasing the sales volume, and continuing to manage costs.
The company maintained its strong operational performance, as production volumes increased by 7% on an annual basis during the first quarter of 2025, while the company continued to maintain the reliability of the total assets, as it reached 94.4% by the end of the first quarter, while maintaining the rates of polyethylene use by 101% and polypropylene by 98%, which confirms the operational excellence of the company and its efficiency.
The demand for high -value products sectors maintained its momentum during the first quarter of 2025 in the basic growth markets in Asia Pacific, the Middle East and Africa, and the total sales volume increased by 10% on an annual basis in the first quarter to 1.25 million tons, driven by a strong growth of 8% in polyethylene sales, and 13% in sizes of polypropylene sales.
Bruges succeeded in achieving strong price bonuses through the portfolio of its specialized and high -quality products, and exceeding the average prices of polyethylene and polypropylene the level of expectations set by the administration through economic courses, by 224 dollars and 154 dollars per ton, respectively.
These price bonuses highlight the great additional value that characterizes “Borouge” products, which play a pivotal role in supporting high -growth sectors such as infrastructure, energy, agriculture, developed packaging, and health care.
Hazim Sultan Al -Suwaidi, CEO of Buruj Company, said that “Buruj” is characterized by a solid position that allows her to continue to achieve accelerated growth, especially after it showed noticeable flexibility and operational excellence over the past two years, pointing out that these achievements give the company strong confidence in conjunction with its entry into a new stage of qualitative growth with the Bruges International Group.
He pointed to the continued implementation of the company’s strategy, which focuses mainly on creating and enhancing the value of its shareholders, which is evident by increasing the upcoming “Bruges” profits distributions to reach 16.2 fils per share for 2025, which will also constitute the minimum expected profit distributions until 2030 under the umbrella of the Bruges International Group.
The continuous strong performance of the company contributes to establishing fixed and strong foundations for the proposed integration between the “Buruj” and “Burialis” companies, and the acquisition of “Nova Chemicals” company, to establish the “Bruges International Group”, a leading global company in the field of petrochemicals worth 220 billion dirhams “60 billion dollars”.
The establishment of this new entity was planned with the aim of continuing to achieve strong profits and significant growth in the short term, provided that the group’s establishment deal will be completed in the first quarter of 2026, after obtaining the necessary legal and organizational approvals.
In the first quarter of 2025, “Bruges” achieved revenue growth on an annual basis by 9% and reached a value of 5.21 billion dirhams “1.42 billion dollars”, driven by an increase in the average selling prices and increased sales volumes.
This strong performance confirms the increasing demand for energy solutions and the distinguished infrastructure produced by the company, which constituted 38% of the total sales volume during the quarter, while the average price of polyethylene and polypropylene sales increased by 2% on a quarterly basis.
The company continued to focus on controlling costs as one of its main priorities, while achieving a decrease in sales and distribution expenses by 6% on an annual basis.
The company is based on cost management on its successful program to enhance the value, which achieved a value of 2.22 billion dirhams “607 million dollars” in 2023, which contributed to its achievement margin of pioneering profit at the level of the petrochemical sector before deducting interest, taxes, depreciation and consumption by 40% during the first quarter.
During the annual general assembly meeting of the company for the year 2025, which was held on April 7, the shareholders agreed to distribute final profits of 2.4 billion dirhams “650 million dollars” for the year 2024, which was paid on April 28, 2025, bringing the total profit distributions of 2024 to 4.8 billion dirhams “1.3 billion dollars”- equivalent to 15.88 fils per share.
Thus, the total profit distributions distributed to shareholders since the first public subscription of the company in 2022 reaches 13.14 billion dirhams “3.58 billion dollars”.
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