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Borouge Plc reported third-quarter production of 0.95 million tonnes, up from 0.72 million tonnes in the second quarter, according to its announcement on October 29. Sales volumes increased 22 percent quarter-on-quarter to 1.07 million tonnes, supported by improved ethane supply and higher exports to Asia while the company maintained elevated technical asset availability. Revenue rose 3 percent to $1.4 billion as the volume gains offset lower average realised selling prices that followed a second-quarter spike in global polyolefin benchmarks. The company shipped all available output without reliance on the Strait of Hormuz by employing alternative logistics paths that combined road, rail and sea options.
Adjusted EBITDA reached $279 million in the third quarter, Borouge Plc said in the statement, with the figure reflecting constraints tied to regional conflicts and higher freight costs that began to ease by period end. Product premia held well above internal guidance despite the decline in benchmark prices. Average realised selling prices stood 22 percent higher than the year-earlier period even after the sequential drop. The announcement noted that utilisation rates averaged 76 percent for the quarter, up from 60 percent in the preceding three months.
Borouge Plc expects the fourth quarter to deliver the strongest financial performance of fiscal year 2026 with a substantial improvement in EBITDA, according to the October 29 announcement. The improvement will be driven by further gains in production volumes together with more favourable pricing conditions. Utilisation has already exceeded 90 percent through October as feedstock supply stabilised. The company indicated that its operational platform remains positioned for rapid recovery once logistical and supply conditions permit.
An interim dividend of 8.1 fils per share was paid in September, Borouge Plc confirmed in the statement, while it reiterated its intention to distribute 16.2 fils per share for the full year. That annual payout would represent a dividend yield of 7.2 percent based on current valuations. The reaffirmation underscores the company’s focus on consistent shareholder returns even as it manages through periodic feedstock and logistics volatility that affected earlier quarters.
The announcement also outlined plans for a proposed tender offer and listing of Borouge International targeted for 2027. Borouge Plc shareholders would gain exposure through the transaction to what the company characterised as the world’s largest pure-play polyolefins producer. Preparations for the move continue subject to market conditions and regulatory approvals from the UAE Capital Market Authority. Earlier company reports showed that second-quarter sales had been constrained by an asset incident at the Ruwais complex that was subsequently repaired ahead of schedule.
Borouge Plc operates as a leading producer of polyethylene and polypropylene solutions with facilities centred in Abu Dhabi. The Q3 performance builds on prior resilience demonstrated in alternative-route shipping that allowed the company to exceed production volumes with inventory drawdowns during periods of disruption. The latest figures come as the broader polyolefins sector continues to experience fluctuating benchmark prices influenced by global supply dynamics and demand from key Asian markets.
