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08-15-2007

Borealis: Record Net Profit for First Half of 2007

Borealis AG, Vienna/Austria, has presented it´s key figures for second quarter and first half of 2007. Therefore the company announced sales revenue of EUR 1,593 million and a net profit of EUR 137 million after tax for the second quarter of 2007. The net profit increases 20 % over the previous quarter and 50 % on the same period last year. The net profit after tax for the first half of the year is EUR 250 million and the sales revenue for the same period grow up to EUR 3,075 million.

The performance was driven by strong market conditions coupled with company’s focus on specialised applications and was achieved in spite of maintenance turnarounds at the steam crackers in Norway and Finland.

The second quarter also saw the sale of the company’s Norwegian polyolefins business and share in the Noretyl gas cracker to Ineos for EUR 290 million, a further step towards increasing the overall competitiveness of Borealis’ European operations.

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