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Borealis recorded a net profit of EUR 507 mln in 2011

February 28/2012

(plastech) -- Borealis, a leading provider of chemical and innovative plastics solutions, recorded a net profit of EUR 507 million in 2011, compared to EUR 333 million in 2010.

The company delivered a return on capital employed (ROCE) of 13%, compared to 10% in 2010. Net debt increased by MEUR 84 by the end of December 2011 but the gearing improved to 35%, reflecting Borealis strong financial position.

2011 was a year of high volatility with the economic climate improving in the first half of the year only to deteriorate in the second half, due in part to the unresolved sovereign debt crisis. This shift in market sentiment had a profound impact on the European polyolefins industry and resulted in significant margin erosion. As a result, the Polyolefins business segment recorded lower profits in 2011 compared to 2010. The Base Chemicals business segment was less impacted by the change in market sentiment, improving profits compared to 2010 driven by healthy margins and commercial excellence.

 

mrcplast.com

Author:Anna Larionova
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Category:General News
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