15 November 2006 – Borealis turned in a third quarter net profit of ˆ104m, an improvement on both the ˆ92m generated in the previous three months and on the equivalent period of last year when the group made ˆ40m. At the operating level, the difference was even greater at ˆ111m versus ˆ26m. “It was a very solid quarter,” said ceo John Taylor, who highlighted the improvements in the company’s return on capital over the past three years to a current figure of 16%.
Sales at ˆ1.5bn were appreciably up on the ˆ1.23bn for the same period of 2005 and total ˆ4.3bn against ˆ3.55bn for the first nine months of 2005 and a 5% volume growth so far this year outperforms the overall polyolefins market in Europe.
The polyolefins major attributes the improvement to its ability to provide value creating solutions for its customers.
In its statement, the Vienna-based group gives firm confirmation of its plans to build a 330,000tpa polypropylene plant using its Borstar multi-modal technology at Burghausen, in Germany. The plant is on track for completion by the end of next year, it discloses, with a key reactor being delivered this week.
