Borealis: Third Quarter Results
Borealis announces an operating profit of EUR 143 million for the third quarter of 2007, a 29 % increase on the same period last year. This performance was achieved despite polyolefin production disruptions in Austria.
The net profit of EUR 225 million after tax for the third quarter of 2007 includes a once-off gain of EUR 105 million related to the sale of Borealis’ Norwegian polyolefins operations and share in the Noretyl cracker to Ineos.
Financial gearing improved slightly versus June 2007 to 31 %, although net interest-bearing debt increased during the quarter by EUR 43 million, reflecting the company’s ongoing investment programme to strengthen its European footprint and its acquisition of Agrolinz Melamine International (AMI).
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