Borealis’ second quarter profits lower than in 2012
The improvement in net profit in Q2 versus Q1 was driven by continued good results in Fertilizer and Base Chemicals and an improvement in Borouge profits following the completion of the Q1 turnaround. The lower net profit in the year-on-year comparison results largely from soft market conditions for polyolefins in Europe. Net debt increased in Q2 2013 due to the acquisitions of GPN SA and TOTAL’s majority interest in Rosier SA. Borealis’ financial position remains strong with gearing (net debt/equity) of 50% at the end of Q2.
Organizations
Other news from the department business & finance
Get the chemical industry in your inbox
From now on, don't miss a thing: Our newsletter for the chemical industry, analytics, lab technology and process engineering brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.