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Another record year for Austria-based group Borealis

February 24, 2017

With a net profit of EUR 1.1 billion in 2016, the Linz-based company continues to show sustainable growth 

Borealis , a leading provider of innovative solutions in the fields of polyolefins and base chemicals, announced a net profit of EUR 239 million for the fourth quarter of 2016, compared to EUR 242 million in the same quarter of 2015. For the entire year of 2016 the company recorded a net profit of EUR 1,107 million, compared to EUR 988 million in 2015.

Borealis said in its press release: “The improved result over 2016 was driven by overall stronger margins in the polyolefins business and an improved contribution from Borouge, following the successful completion of the Borouge 3 project. Mark Garrett, CEO at Borealis, also said: “During 2017 we expect significant capacities to start coming on stream in North America. North America will become a significant net exporter in the coming years and it would be naïve to think that this won’t affect us; it’s simply the nature of our cyclical business.”

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