709 million dirhams net profits "Porridge" During the second quarter of 2025
Abu Dhabi, July 31/ WAM/ Bruges BLC, one of the leading petrochemical companies in providing innovative and varied urine solutions, announced a net profit of 709 million dirhams during the second quarter of 2025, bypassing market expectations.
This performance reflects the implementation of the planned periodic maintenance work planned in the “Borouge 3” factory with high efficiency, which enabled the company to maintain strong profitable margins, and achieve large cash flows, supported by effective cost management and continued achievement of price bonuses in its high -value products portfolio.
Periodic maintenance work was carried out in the “Bruges 3” factory successfully during the second quarter, where it was safely completed and within the budget, and the facilities that were subjected to maintenance were delivered eight days before the date.
These are the largest and most complex periodic maintenance work carried out to this day, and the company has succeeded in reducing its implementation time by 15%.
This performance reflects the efficiency of the company’s planning and implementation teams. The planned periodic maintenance work, which is implemented every six years, is necessary to maintain the efficiency of the global -level “Borouge” assets and maintain high use rates and strong production volumes.
The profits of the modified company before deducting interest, taxes, depreciation and consumption for the second quarter amounted to 1.62 billion dirhams, and succeeded in maintaining a strong margin of profits before deducting interest, taxes, depreciation and consumption of 34%, supported by improving the product group throughout the periodic maintenance period.
Hazim Sultan Al -Suwaidi, CEO of Buruj Company, said that the company’s distinguished results are supported by strong cash flows, a disciplined implementation of the strategy, and fixed price allowances, including the successful achievement of periodic maintenance work planned in the Bruges 3 factory, which is the largest periodic maintenance process to date.
He emphasized the commitment to achieve the value of the shareholders by renewing the determination to raise the profits distributions to 16.2 fils per share for the year 2025, and the proposed distributions of profits for the first half of 2025, equivalent to 8.1 fils per share and is scheduled The proposed.
The powerful pricing bonuses of products continued to be over the reference prices for both polyethylene and polypropylene as one of the most prominent features of this quarter, as 914 dirhams per ton were achieved for polyethylene and 518 dirhams per ton for polypropylene, and both of them exceeded management directions through economic courses.
In detail about the financial results for the second quarter, Bruges revenue reached 4.79 billion dirhams, while the total sales volume reached 1.1 million tons, in a stable performance compared to the previous quarter, as a result of the sale of about 140 thousand tons of stock, and the high -value products continued to seize 41% of the total sales volume, with a strong momentum in infrastructure solutions and developed packaging.
Capital expenditures during the second quarter amounted to 477 million dirhams, and “Bruges” concluded this period with a net debt rate to profits before deducting benefits, taxes, destruction and consumption at 1.0 times, which reflects its financial flexibility and the strength of its public budget.
On the results of the first half of the year, “Borouge” achieved revenues of up to 10 billion dirhams, while the modified profits before deducting interest, taxes, depreciation and consumption amounted Annual, which reflects the operational flexibility of “Borouge” and its ability to adapt to changes.
“Borouge” made an offer to increase the value of the distribution of phased profits for the first half of 2025, equivalent to 8.1 fils per share, under the approval of the General Assembly scheduled for next August, and these distributions reflect the first batch within the company’s plan to raise profits in 2025 to 16.2 fils per share, an increase of 15.88 fils in 2024, which represents 6.1% of the return The estimated dividends are estimated according to the current share price, which is among the highest in the Abu Dhabi Securities Market, which enhances the framework of increasing the distributions of the company.
Since the first public subscription of the company in 2022, Buruj pushed total cash dividends for the shareholders amounting to 13.13 billion dirhams, and after completing the proposed “Bruges International Group” deal, the new entity intends to maintain a minimum profit distributions at least 16.2 fils per share until at least 2030, which represents cumulative returns for shareholders by approximately 37 percent, With a strong possibility to increase the value of the share and the percentage of profit distribution of 90% of the net profit.
Bruges continues to implement the shares resetting program, which was approved by the General Assembly in April, which reflects the company’s strong confidence in its future growth prospects, as it purchased 125 million shares at the end of the first half of the year, and these transactions were disclosed according to the organizational requirements of the Abu Dhabi Securities Market.
Bruges continues to strengthen its program for artificial intelligence, digital transformation and technology, which achieved an additional value of 1.13 billion dirhams from the beginning of the year to date, and one of the most prominent stations that the program witnessed this year is the launch of the “Proof of the Concept” project in cooperation with the “Haniole” company, to develop the first control room supported by artificial intelligence in the petrochemical sector, which allows self -employment to “Bruges” facilities in Ruwais.
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