According to Amac News: Borouge said that last year it achieved profitability metrics that significantly exceeded its global peers, with an EBITDA margin of 41% for the fiscal year 2024.
EBITDA also increased by 14% year-on-year to $2.48 billion, driven by a 4% increase in annual revenue to $6 billion.
With a focus on operational excellence, the company achieved a record production of 5.2 million tonnes, driven by exceptional utilization rates of 110% for polyethylene and 98% for polypropylene.
Sales volumes reached an all-time high of 5.3 million tonnes, supported by strategic positioning in high-growth markets in Asia, the Middle East and Africa and strong customer relationships built through an international network of 14 sales and marketing offices.
“Borouj has delivered significant revenue growth in 2024. We have maintained strong profitability while the global industry has faced challenges,” said Hazim Sultan Al Suwaidi, CEO of Borouj.
He also announced that Borouj plans to pay out $1.3 billion in dividends in fiscal year 2025, equivalent to a current dividend yield of 6.3%.
“The strategic expansion project at Borouj 4 will increase production scale by almost a third and contribute to sales growth in key markets. We are also implementing a comprehensive digital transformation and artificial intelligence program that is already increasing productivity and will transform our operations in the years to come,” Al Suwaidi added.