Despite facing logistics challenges in March, the company still achieved $1.2 billion in revenue, thanks to strong production of 1.21 million tons and sales of 1.09 million tons
Against the backdrop of constantly changing regional situations, the production load in the first quarter remained at 98% of the designed capacity, demonstrating excellent operational resilience
In response to the disturbance in the Strait of Hormuz, the company quickly activated alternative logistics routes in March. 61% of the production in March was delivered through alternative channels, effectively reducing the impact on revenue and customer supply
Borouge Plc remains committed to creating attractive returns for shareholders, with a total dividend of $658 million for the second half of fiscal year 2025, expected to be distributed around May 5, 2026, supported by strong profitability and cash flow in fiscal year 2025
With the successful completion of the Borouge International transaction, Borouge Corporation has officially joined this globally leading professional polyolefin enterprise platform. Relying on its scale advantage and technological leadership, the company's profitability resilience is expected to further enhance, and through the clear synergy effect of EBITDA (earnings before interest, tax, depreciation, and amortization), it will continue to drive long-term value creation
Abu Dhabi, United Arab Emirates - April 30, 2026:Borouge Limited (listed on the Abu Dhabi Stock Exchange under the stock code "BOROUGE"/International Securities Identification Number ISIN "AEE01072B225") announced robust financial and operational performance for the first quarter of 2026. Despite the challenging regional situation and logistics environment, the company still achieved $1.2 billion in revenue, $343 million in adjusted EBITDA, and $156 million in net profit. The performance is attributed to strong operational execution, with the company achieving a production of 1.21 million tons in the first quarter and a device load rate of 98% of the design capacity.
Despite the impact of the regional situation on transportation in the Strait of Hormuz, the company successfully delivered 61% of its production in March through alternative logistics channels. Affected by the tight global supply of polyolefins, prices surged by 62% in March and remained high in April, providing support for the full year performance outlook.
Hazem Sultan Suwaydi
CEO of Bolu Co., Ltd
Against the backdrop of significant environmental challenges in the region, we would like to express our sincere gratitude to all employees for their consistent professionalism and sense of responsibility. In the first quarter of 2026, we delivered robust performance, fully demonstrating excellent execution, operational management capabilities, and continuous cost control. It has been proven that our business continuity plan has withstood the test. As global prices show positive signs of recovery and the market environment continues to improve, we are fully prepared to turn opportunities into performance results, while ensuring stable customer supply and continuing to create sustainable long-term value for shareholders.
Maintain high production and safe operation under regional environmental uncertainty
In the first quarter of 2026, Boluo Co., Ltd. achieved a production capacity of 1.21 million tons, with a production load rate of 98% of the designed capacity, fully demonstrating the company's excellent operational resilience. Unsold products are stored in the warehouse through efficient inventory management and alternative logistics solutions, and will be shipped gradually in the coming months. At the same time, the company always puts employee safety and asset integrity first.
As disclosed on April 6th, an incident occurred at the company's production facility located in the Ruwais Industrial Zone in the United Arab Emirates on April 5th. After the successful interception by the air defense system, the falling debris caused damage to some assets, and production in the relevant area was temporarily suspended. With the completion of preliminary repairs and phased restarts of some affected production lines, most production facilities have now been restored to service, and the utilization rate of the facilities is gradually increasing. The unsold inventory in March is being sold gradually in the second quarter in a higher price environment, which will help to ensure stable delivery to customers in the first half of the year.
Quickly respond to logistics challenges and seize opportunities for price increases
The performance of Boluo Co., Ltd. in the first quarter of 2026 once again demonstrates the resilience of its operating model and the high flexibility of its commercial and logistics platforms, thanks to mature business continuity planning and close collaboration with various stakeholders and local government departments.
In the first quarter, the company achieved a steady revenue of 1.2 billion US dollars. In response to the disruption of transportation in the Strait of Hormuz, the company quickly implemented alternative distribution routes, and the increase in related logistics and shipping costs has been included in the company's pricing strategy. Efficient response measures effectively supported product supply during turbulent times.
Driven by the tightening global supply of polyolefins and strong demand for the specialized product portfolio of Boru Corporation, global prices surged by 62% in March. Despite the overall upward trend in prices, which has driven up the average selling price, the average price in the first quarter of 2026 has only increased by $47/ton compared to the fourth quarter of 2025, due to the lower benchmark price levels in January and February. Despite the continuous fluctuations in the market environment, the company still maintains its premium ability over the benchmark price.
Continuously creating value for shareholders
At the annual shareholders' meeting held on April 7, 2026, the shareholders of Boru Corporation approved a dividend distribution plan for the fiscal year 2025 totaling $1.32 billion (16.2 fils per share, in UAE currency). The dividend policy is expected to be maintained by Boru International until at least 2030, subject to shareholder approval. The final dividend amount approved by shareholders for the fiscal year 2025 is $658 million (8.1 fils per share), which will be distributed around May 5, 2026, and the equity registration date is April 17, 2026.
According to a favorable agreement recently reached with Abu Dhabi National Oil Company (ADNOC) and Austrian Oil and Gas Group (OMV) (hereinafter referred to as the "Agreement"), Boru AG has acquired operational control and marketing rights for the Boru IV mega project without any prior capital investment. After the project is fully put into operation, it is expected that the agreement will contribute approximately $400 million in net profit to the company over the next three years, equivalent to an annualized increase of approximately 10% in profit1.
In addition, the company achieved $143 million in value creation through artificial intelligence digitization and technology projects this quarter, and continued to promote 3D printing and digital warehousing plans to achieve on-demand production of key spare parts, effectively shortening delivery cycles and reducing inventory holding costs.
[1] Financial performance is influenced by market, operational, and regulatory factors.
Boluo International: Building a New Global Polyolefin Leading Enterprise
Boluo International was successfully established on March 30, 2026.According to the design capacity calculation, the new platform has become the fourth largest polyolefin producer in the world, fully integrating high-end product portfolio, proprietary technology, and global layout. Boluo Co., Ltd. has become an important part of Boluo International and is expected to benefit from this global platform, further enhancing long-term competitiveness, strengthening regional diversification and scale advantages, laying a more solid foundation for future value creation, while maintaining a clear commitment to shareholder returns.
The implementation time of the proposed tender offer (converting shares of Borouge Group International AG into shares of Borouge Group International AG) will be coordinated with the future equity financing arrangements of the new company to maximize the value of all shareholders. The tender offer is expected to take place in 2027, subject to market conditions and approval from the UAE Capital Market Authority.
prospect
Despite the complex and challenging short-term business environment, Boru Corporation has the favorable conditions to cope with the constantly changing market and logistics situation. A more favorable pricing environment, combined with the potential gradual recovery of logistics, has created favorable conditions for future stage recovery. Based on the current market situation, a strong price level is expected to offset the impact of rising logistics costs and short-term production and transportation disruptions.
