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ABU DHABI / WAM
Borouge Plc on Wednesday announced a 52 percent quarter-on-quarter (QoQ) net profit increase to $295 million in Q3 2025, exceeding market expectations and driven by record production, strong sales, and resilient margins following the successful Borouge 3 plant turnaround in Q2.
Adjusted EBITDA for Q3 rose to $565 million, representing an industry-leading 39 percent margin, up from 34 percent in the previous quarter. The higher margin reflects strong sales volumes, first quartile operating costs and robust quality pricing premia.
Despite benchmark prices declining QoQ, Borouge achieved $233/t for polyethylene (PE) and $142/t for polypropylene (PP) during the first nine months of 2025, remaining above guidance and reflecting the strength of its differentiated and innovative product portfolio. For the first nine months, Borouge generated revenue of $4.17 billion in 2025 compared to $4.41 billion recorded for the same period in 2024 due to lower average selling prices, mitigated by increased production volumes.
Adjusted EBITDA stood at $1.57 billion, while net profit reached $769 million, supported by disciplined cost control and higher operating efficiency.
“Our exceptional Q3 results reinforce Borouge’s position as the world’s most profitable polyolefins company. We delivered over 50 percent net profit growth despite softer markets, underpinned by our resilient business model, record production following the planned Q2 turnaround, and strong cost discipline,” said Hazeem Sultan Al Suwaidi, Chief Executive Officer of Borouge.
He added that the company’s cash generation underpins one of the highest dividend yields on the ADX, affirming Borouge’s intention to increase the dividend to 16.2 fils per share for 2025.
Borouge continues to advance its growth projects. The Borouge 4 expansion project is over 90 percent complete, with the first plant expected to start coming online by the end of this year. Once fully operational, the project will add 1.4 million tonnes of annual capacity and significantly enhance Borouge’s earnings power and market reach. It would also serve as a core asset within Borouge Group International, to which it is expected to be transferred at cost, upon completion. Borouge has delivered $477 million in year-to-date value through its AI, Digitalisation and Technology (AIDT) programme, and is targeting $575 million in value generation for 2025.
The company is also collaborating with Yokogawa and Honeywell to conduct a proof-of-concept for AI-powered autonomous control room operations at its Ruwais facility in Abu Dhabi and is set to deliver the petrochemical industry’s first AI-driven control room.