New Risk • Jul 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 137% Cash payout ratio: 94% Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. Minor Risk High level of debt (56% net debt to equity). New Risk • May 16
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 107% Cash payout ratio: 94% Dividend yield: 6.4% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 107% Cash payout ratio: 94% Minor Risk High level of debt (57% net debt to equity). Upcoming Dividend • Apr 09
Upcoming dividend of د.إ0.081 per share Eligible shareholders must have bought the stock before 16 April 2026. Payment date: 28 April 2026. The company is paying out more than 100% of its profits and is paying out 82% of its cash flow. Trailing yield: 6.1%. Lower than top quartile of Emirian dividend payers (6.8%). Higher than average of industry peers (1.8%). Announcement • Apr 07
Borouge plc Approves Cash Dividend for Second Half of the Financial Year Ended on 31 December 2025, Payable Within 30 Days of the Agm Date 7 April 2026 Borouge plc at its AGM held on April 7, 2026 approved a cash dividend distribution of 8.1 fils per share, amounting to approximately USD 658 million (equivalent to approximately AED 2,415 million) for the second half of the financial year ended 31 December 2025, to bring the total cash dividend for the financial year ended 31 December 2025 to USD 1,321 million (equivalent to AED 4,851 million, and amounting to approximately 16.2 fils per share).
Ex-dividend Date is 16 April 2026. Payment Date is Within 30 days of the AGM date 7 April 2026. Last Entitlement date is 15 April 2026. Announcement • Apr 06
Borouge plc to Report Q1, 2026 Results on Apr 30, 2026 Borouge plc announced that they will report Q1, 2026 results on Apr 30, 2026 Announcement • Apr 02
Borouge plc (ADX:BOROUGE) and Borealis AG completed the acquisition of NOVA Chemicals Corporation from Nova Chemicals Holding GmbH. Borouge plc (ADX:BOROUGE) and Borealis AG agreed to acquire NOVA Chemicals Corporation from Nova Chemicals Holding GmbH for $9.4 billion on March 3, 2025. ADNOC will acquire NOVA Chemicals for $13.4 billion including debt. The acquisition, together with the recontribution of Borouge-4, would create a new $60+ billion global polyolefins champion, set to be the world’s fourth largest by nameplate production capacity. Under the terms of the agreement, ADNOC and OMV will hold equal stakes of 46.94% in Borouge Group International, with joint control and equal partnership, with the remaining 6.12% in free float. This is subject to Securities and Commodities Authority (SCA) approval and assuming all existing Borouge free float shareholders accept to exchange their existing shares in Borouge into shares in Borouge Group International. The acquisition implies a multiple of c. 7.5x forward through-the-cycle Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) and is expected to be debt financed through the capital markets. The proposed agreement assumes a primary cash injection of approximately €1.6 billion by OMV into Borouge Group International. The cash injection will be reduced accordingly upon closing due to adjustment of the equity value of Borouge and Borealis after expected dividend payments up to completion. The new entity will be listed on the Abu Dhabi Securities Exchange (ADX), subject to approval by the SCA and ADX. The acquisition of NOVA Chemicals by the ADNOC is envisaged to be financed by a bridge-financing which shall thereafter be refinanced including by way of a capital increase with a currently expected volume up to an amount of $4 billion where OMV and ADNOC are not expected to participate, leading to an increase of the free float of the joint venture company.
Post completion of the acquisition, Borouge Group International is intended to be headquartered and domiciled in Vienna, with regional headquarters in Abu Dhabi, subject to regulatory approvals. In addition, Borouge Group International will retain key corporate hubs in Calgary, Pittsburgh and Singapore and Borouge Group International will be listed on the ADX.
The combination of Borouge and Borealis and acquisition of Nova is subject to regulatory approvals and other customary conditions. The final transaction will be under comprehensive review by the Borouge PLC Board of Directors. The transaction is currently expected to complete in first quarter of 2026. Margin profile of the new entity is expected to remain best-in-class globally and is expected to also be resilient over the cycle compared to peers, while providing the financial strength to fund future organic and inorganic growth opportunities. The proposed transactions are expected to unlock significant value through the realisation of operational and commercial synergies, improved global market access, accelerated rollout of new innovations, and sharing and scaling of advanced technologies. These synergies are currently estimated by ADNOC and OMV to deliver around a $500 million additional run-rate EBITDA, with 75% expected to be realised within three years after completion of the transactions.
As of July 8, 2025, The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Nova Chemicals Corporation.
Morgan Stanley acted as the financial advisor to NOVA Chemicals. Christopher Cross, Simon Tysoe, Ashley Nguyen and Lilia Vazova of Latham & Watkins LLP acted as legal advisor to Abu Dhabi National Oil Company. Matthew Readings, Thomas Masterman of Allen Overy Shearman Sterling LLP acted as legal advisor to Abu Dhabi National Oil Company. Katja Tautscher, Andreas Aigner, Michael Ebner and Christian Horvath of CERHA HEMPEL Rechtsanwälte GmbH served as legal advisor to Borouge and Borealis GmbH.
Borouge plc (ADX:BOROUGE) and Borealis AG completed the acquisition of NOVA Chemicals Corporation from Nova Chemicals Holding GmbH on March 31, 2026. Announcement • Mar 16
Borouge plc, Annual General Meeting, Apr 07, 2026 Borouge plc, Annual General Meeting, Apr 07, 2026, at 15:00 Arabian Standard Time. Major Estimate Revision • Feb 13
Consensus revenue estimates increase by 12% The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from US$5.20b to US$5.84b. EPS estimate unchanged from US$0.042 at last update. Chemicals industry in United Arab Emirates expected to see average net income growth of 28% next year. Consensus price target of د.إ2.79 unchanged from last update. Share price was steady at د.إ2.64 over the past week. Declared Dividend • Feb 06
Final dividend of د.إ0.081 announced Shareholders will receive a dividend of د.إ0.081. Ex-date: 16th April 2026 Payment date: 28th April 2026 Dividend yield will be 6.2%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is not covered by earnings (107% earnings payout ratio). However, it is covered by cash flows (82% cash payout ratio). The dividend has increased by an average of 27% per year over the past 3 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 18% to bring the payout ratio under control. EPS is expected to grow by 11% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Feb 05
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: US$0.036 (down from US$0.041 in FY 2024). Revenue: US$5.85b (down 3.0% from FY 2024). Net income: US$1.09b (down 11% from FY 2024). Profit margin: 19% (down from 20% in FY 2024). Revenue exceeded analyst estimates by 5.2%. Earnings per share (EPS) also surpassed analyst estimates by 17%. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Chemicals industry in Asia. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Feb 04
Borouge plc Proposes Dividend for the Second Half of the Financial Year Ended December 31, 2025 Borouge plc at its board of directors meeting held on 3 February 2026 proposed a cash dividend distribution of 8.1 fils per share, amounting to approximately USD 663 million (equivalent to approximately AED 2,435 million) for the second half of the financial year ended 31 December 2025. This proposal will be submitted for approval by the shareholders at the upcoming general assembly meeting. Announcement • Jan 29
Borouge plc to Report Fiscal Year 2025 Results on Feb 03, 2026 Borouge plc announced that they will report fiscal year 2025 results on Feb 03, 2026 Reported Earnings • Oct 30
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: US$0.01 (down from US$0.011 in 3Q 2024). Revenue: US$1.45b (down 9.5% from 3Q 2024). Net income: US$292.1m (down 9.9% from 3Q 2024). Profit margin: 20% (in line with 3Q 2024). Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) also missed analyst estimates by 11%. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Chemicals industry in Asia. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Sep 01
Borouge plc Approves Interim Cash Dividend for the First Half of the Current Financial Year 2025, Payable Within 30 Days from 29 August 2025 Borouge plc at its AGM held on August 29, 2025, approved recommendation of the Board of Directors concerning an interim cash dividend distribution to shareholders of 8.1 fils per eligible share, equivalent to a total amount of approximately USD 660 million (approximately AED 2.4 billion) for the first half of the current financial year 2025. Last Entitlement date is 4 September 2025. Ex- dividend Date is 5 September 2025. Payment Date is Within 30 days from 29 August 2025. Upcoming Dividend • Sep 01
Upcoming dividend of د.إ0.081 per share Eligible shareholders must have bought the stock before 08 September 2025. Payment date: 26 September 2025. Payout ratio is a comfortable 58% and the cash payout ratio is 78%. Trailing yield: 6.0%. Within top quartile of Emirian dividend payers (6.0%). Higher than average of industry peers (2.0%). Upcoming Dividend • Aug 29
Upcoming dividend of د.إ0.081 per share Eligible shareholders must have bought the stock before 05 September 2025. Payment date: 26 September 2025. Payout ratio is a comfortable 58% and the cash payout ratio is 78%. Trailing yield: 6.0%. Within top quartile of Emirian dividend payers (6.0%). Higher than average of industry peers (2.0%). Declared Dividend • Aug 02
First half dividend of د.إ0.081 announced Shareholders will receive a dividend of د.إ0.081. Ex-date: 5th September 2025 Payment date: 26th September 2025 Dividend yield will be 6.0%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is not covered by earnings (105% earnings payout ratio). However, it is covered by cash flows (78% cash payout ratio). The dividend has increased by an average of 26% per year over the past 3 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 17% to bring the payout ratio under control. EPS is expected to grow by 5.2% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Aug 01
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: US$0.01 (in line with 2Q 2024). Revenue: US$1.31b (down 13% from 2Q 2024). Net income: US$191.7m (down 37% from 2Q 2024). Profit margin: 15% (down from 20% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 88%. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Chemicals industry in Asia. Reported Earnings • May 01
First quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2025 results: EPS: US$0.01 (up from US$0.009 in 1Q 2024). Revenue: US$1.42b (up 9.0% from 1Q 2024). Net income: US$278.8m (up 3.0% from 1Q 2024). Profit margin: 20% (down from 21% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.8%. Earnings per share (EPS) missed analyst estimates by 49%. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Chemicals industry in Asia. Upcoming Dividend • Apr 09
Upcoming dividend of د.إ0.079 per share Eligible shareholders must have bought the stock before 16 April 2025. Payment date: 28 April 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 6.0%. Lower than top quartile of Emirian dividend payers (6.8%). Higher than average of industry peers (2.4%). Announcement • Mar 19
Borouge plc, Annual General Meeting, Apr 07, 2025 Borouge plc, Annual General Meeting, Apr 07, 2025, at 15:00 Arabian Standard Time. Announcement • Mar 05
Borouge plc (ADX:BOROUGE) and Borealis AG agreed to acquire NOVA Chemicals Corporation from Nova Chemicals Holding GmbH for $9.4 billion. Borouge plc (ADX:BOROUGE) and Borealis AG agreed to acquire NOVA Chemicals Corporation from Nova Chemicals Holding GmbH for $9.4 billion on March 3, 2025. ADNOC will acquire NOVA Chemicals for $13.4 billion including debt. The acquisition, together with the recontribution of Borouge-4, would create a new $60+ billion global polyolefins champion, set to be the world’s fourth largest by nameplate production capacity. Under the terms of the agreement, ADNOC and OMV will hold equal stakes of 46.94% in Borouge Group International, with joint control and equal partnership, with the remaining 6.12% in free float. This is subject to Securities and Commodities Authority (SCA) approval and assuming all existing Borouge free float shareholders accept to exchange their existing shares in Borouge into shares in Borouge Group International. The acquisition implies a multiple of c. 7.5x forward through-the-cycle Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) and is expected to be debt financed through the capital markets. The proposed agreement assumes a primary cash injection of approximately €1.6 billion by OMV into Borouge Group International. The cash injection will be reduced accordingly upon closing due to adjustment of the equity value of Borouge and Borealis after expected dividend payments up to completion. The new entity will be listed on the Abu Dhabi Securities Exchange (ADX), subject to approval by the SCA and ADX. The acquisition of NOVA Chemicals by the ADNOC is envisaged to be financed by a bridge-financing which shall thereafter be refinanced including by way of a capital increase with a currently expected volume up to an amount of $4 billion where OMV and ADNOC are not expected to participate, leading to an increase of the free float of the joint venture company.
Post completion of the acquisition, Borouge Group International is intended to be headquartered and domiciled in Vienna, with regional headquarters in Abu Dhabi, subject to regulatory approvals. In addition, Borouge Group International will retain key corporate hubs in Calgary, Pittsburgh and Singapore and Borouge Group International will be listed on the ADX.
The combination of Borouge and Borealis and acquisition of Nova is subject to regulatory approvals and other customary conditions. The final transaction will be under comprehensive review by the Borouge PLC Board of Directors. The transaction is currently expected to complete in first quarter of 2026. Margin profile of the new entity is expected to remain best-in-class globally and is expected to also be resilient over the cycle compared to peers, while providing the financial strength to fund future organic and inorganic growth opportunities. The proposed transactions are expected to unlock significant value through the realisation of operational and commercial synergies, improved global market access, accelerated rollout of new innovations, and sharing and scaling of advanced technologies. These synergies are currently estimated by ADNOC and OMV to deliver around a $500 million additional run-rate EBITDA, with 75% expected to be realised within three years after completion of the transactions. Announcement • Mar 01
Borouge plc Announces Executive Changes Borouge plc appointed Mr. Roland Janssen as Chief Marketing Officer in accordance with the Company's Articles of Association, effective 1 March 2025. Mr. Janssen will be replacing Mr. Rainer Hoefling. After successfully completing his tenure in Singapore, Mr. Hoefling is transitioning back to Europe, where he looks forward to the next phase of his career. Mr. Janssen has over 25 years of professional experience in different sectors of the chemicals industry. He joins Borouge from Phillips 66, a diversified energy company, where he oversaw the company's chemicals portfolio. Prior to Phillips 66, Mr. Janssen served at Borealis in various leadership roles and disciplines around the world, which included a 6-year appointment as Vice President at Borouge Pte. based in Singapore. Prior to Borealis, Mr. Janssen held several roles with The Dow Chemical Company and the Volkswagen Group. Mr. Janssen holds a Master of Science degree in Automotive Engineering from the University of Hertfordshire, UK. Declared Dividend • Feb 06
Final dividend of د.إ0.079 announced Shareholders will receive a dividend of د.إ0.079. Ex-date: 28th March 2025 Payment date: 1st January 1970 Dividend yield will be 6.2%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is not covered by earnings (109% earnings payout ratio). However, it is covered by cash flows (74% cash payout ratio). The dividend has increased by an average of 41% per year over the past 2 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 22% to bring the payout ratio under control. However, EPS is expected to decline by 20% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. New Risk • Feb 05
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 6.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 6.3% per year for the foreseeable future. Minor Risks High level of debt (56% net debt to equity). Dividend is not well covered by earnings (109% payout ratio). Reported Earnings • Feb 05
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: US$0.04 (up from US$0.033 in FY 2023). Revenue: US$6.03b (up 4.1% from FY 2023). Net income: US$1.23b (up 24% from FY 2023). Profit margin: 20% (up from 17% in FY 2023). Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 1.0%. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Chemicals industry in Asia. Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: US$0.01 (vs US$0.009 in 3Q 2023) Third quarter 2024 results: EPS: US$0.01 (up from US$0.009 in 3Q 2023). Revenue: US$1.60b (up 6.9% from 3Q 2023). Net income: US$324.1m (up 16% from 3Q 2023). Profit margin: 20% (up from 19% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Chemicals industry in Asia. Major Estimate Revision • Aug 15
Consensus EPS estimates increase by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from US$5.59b to US$5.74b. EPS estimate increased from US$0.031 to US$0.036 per share. Net income forecast to shrink 2.6% next year vs 33% growth forecast for Chemicals industry in United Arab Emirates . Consensus price target broadly unchanged at د.إ2.82. Share price rose 2.1% to د.إ2.45 over the past week. Declared Dividend • Aug 02
First half dividend of د.إ0.079 announced Shareholders will receive a dividend of د.إ0.079. Ex-date: 6th September 2024 Payment date: 1st January 1970 Dividend yield will be 6.5%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by both earnings (87% earnings payout ratio) and cash flows (69% cash payout ratio). The dividend has increased by an average of 41% per year over the past 2 years and payments have been stable during that time. EPS is expected to grow by 7.0% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 01
Second quarter 2024 earnings released: EPS: US$0.01 (vs US$0.008 in 2Q 2023) Second quarter 2024 results: EPS: US$0.01 (up from US$0.008 in 2Q 2023). Revenue: US$1.50b (up 6.1% from 2Q 2023). Net income: US$304.5m (up 33% from 2Q 2023). Profit margin: 20% (up from 16% in 2Q 2023). Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Chemicals industry in Asia. Reported Earnings • May 01
First quarter 2024 earnings released: EPS: US$0.01 (vs US$0.007 in 1Q 2023) First quarter 2024 results: EPS: US$0.01 (up from US$0.007 in 1Q 2023). Revenue: US$1.30b (down 5.8% from 1Q 2023). Net income: US$270.6m (up 37% from 1Q 2023). Profit margin: 21% (up from 14% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Chemicals industry in Asia. Announcement • Mar 30
Borouge plc Approves Dividend for 2023 Borouge plc confirmed shareholder approval of a $650 million (7.94 fils/share) final 2023 cash dividend at its Annual General Meeting (AGM). Ex-dividend date is 5 April 2024. Record date is 12 April 2024. Dividend payment is Within 30 days of the date of the Annual General Assembly. Announcement • Mar 29
Borouge plc Provides Dividend Guidance for the Year 2024 Borouge plc confirmed its intention to pay a total dividend of $1.3 billion for 2024, equivalent to 15.88 fils (AED 0.1588) per share, reinforcing its commitment to shareholder value and demonstrating its confidence and ability in generating earnings and profits even in the face of challenging market conditions. Reported Earnings • Feb 02
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: US$0.03 (down from US$0.036 in FY 2022). Revenue: US$5.79b (down 3.4% from FY 2022). Net income: US$991.1m (down 8.8% from FY 2022). Profit margin: 17% (in line with FY 2022). Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates by 2.2%. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Chemicals industry in Asia. Announcement • Feb 02
Borouge plc Intends to Distribute Dividends for the Year 2024 Borouge plc management intends to distribute 15.9 fils per share in dividends for full year 2024, equating to a 6.6% current dividend yield. Announcement • Feb 01
Borouge plc, Annual General Meeting, Mar 28, 2024 Borouge plc, Annual General Meeting, Mar 28, 2024. New Risk • Feb 01
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.7% per year for the foreseeable future. Minor Risks High level of debt (71% net debt to equity). Dividend is not well covered by earnings (136% payout ratio). Announcement • Jan 31
Borouge plc to Report Q4, 2023 Results on Jan 31, 2024 Borouge plc announced that they will report Q4, 2023 results on Jan 31, 2024 Board Change • Dec 31
High number of new and inexperienced directors There are 11 new directors who have joined the board in the last 3 years. The company's board is composed of: 11 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Director Roger Brown is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Oct 31
Third quarter 2023 earnings released: EPS: US$0.01 (vs US$0.02 in 3Q 2022) Third quarter 2023 results: EPS: US$0.01 (down from US$0.02 in 3Q 2022). Revenue: US$1.50b (down 58% from 3Q 2022). Net income: US$279.1m (down 54% from 3Q 2022). Profit margin: 19% (up from 17% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is expected to decline by 3.0% p.a. on average during the next 3 years, while revenues in the Chemicals industry in Asia are expected to grow by 12%. Major Estimate Revision • Aug 24
Consensus EPS estimates increase by 13% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from US$0.03 to US$0.034. Revenue forecast steady at US$6.00b. Net income forecast to grow 20% next year vs 33% growth forecast for Chemicals industry in United Arab Emirates. Consensus price target broadly unchanged at د.إ2.99. Share price was steady at د.إ2.75 over the past week. Reported Earnings • Jul 29
Second quarter 2023 earnings released: EPS: US$0.01 (vs US$0.012 in 2Q 2022) Second quarter 2023 results: EPS: US$0.01 (down from US$0.012 in 2Q 2022). Revenue: US$1.42b (down 11% from 2Q 2022). Net income: US$229.0m (down 36% from 2Q 2022). Profit margin: 16% (down from 23% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Chemicals industry in Asia. Announcement • Jul 29
Borouge plc to Report Q3, 2023 Results on Oct 31, 2023 Borouge plc announced that they will report Q3, 2023 results on Oct 31, 2023 Announcement • Jul 25
Borouge plc to Report Q2, 2023 Results on Jul 27, 2023 Borouge plc announced that they will report Q2, 2023 results on Jul 27, 2023 Announcement • Jul 15
OMV to Enter Talks with ADNOC to Create $20 Billion Chemicals Giant OMV Aktiengesellschaft (WBAG:OMV) said on July 14, 2023 said it will enter negotiations with Abu Dhabi National Oil Co (ADNOC) to potentially create a chemicals giant via the combination of two entities in which both companies own stakes. The deal, if realised, would include a merger of petrochemicals group Borealis AG which is owned by OMV and ADNOC in a 75:25 split -- and Borouge plc (ADX:BOROUGE), which is 54:36 owned by ADNOC and Borealis. OMV said such a tie-up would result in both Borealis and Borouge becoming "equal partners under a jointly controlled, listed platform for potential growth acquisitions to create a global polyolefin company". A potential tie-up between the both petrochemicals companies, which was first reported last week, would create a global heavyweight with combined annual sales of more than $20 billion. OMV said any transaction depended on a number of criteria, including the valuation of both businesses as well as the approval of the Austrian group's management and supervisory boards and antitrust authorities. Announcement • Jul 06
Adnoc, OMV Reportedly Explore USD 30 Billion Merger of Borealis, Borouge OMV Aktiengesellschaft (WBAG:OMV) are exploring a combination of Borouge plc (ADX:BOROUGE) and Borealis AG to create a chemicals and plastics company worth more than $30 billion, people familiar with the matter said. The owners are discussing the potential valuation and ownership structure of a combined entity and may reach the broad outlines for formal merger negotiations in the coming weeks, according to the people. Talks have been on-and-off for several months and could still be delayed or fall apart, they said, asking not to be identified because deliberations are private. Borealis is 75% owned by OMV, with the remainder held by Abu Dhabi National Oil Co. Abu Dhabi-listed Borouge is itself a partnership between Adnoc and Borealis and has a market value of about $22 billion. The two parties are discussing a possible valuation of about $10 billion for Borealis, including its Borouge stake, the people said. After taking into account potential synergies, the overall valuation of the combined entity could exceed $30 billion, the people said. The exact value and ownership structure remain the two key hurdles for any agreement and may still change, they said. The Austrian side would also prefer to have the headquarters in Europe, where most of the operations are, even if the combined entity was listed in Abu Dhabi, the people said. Representatives for Adnoc and OMV declined to comment. Spokespeople for Borealis and Borouge referred queries to their owners. The Abu Dhabi firm is continuing its pursuit of a potential Covestro takeover and has been studying its next steps, according to people with knowledge of the matter. Adnoc is likely to decide as soon as the next couple weeks whether to increase its offer for Covestro, the people said. A spokesperson for Covestro declined to comment. Announcement • Jun 07
Borouge plc Appoints Daniela Vlad as Board Member Borouge plc informed that Ms. Daniela Vlad has been appointed as a board member in the Company in accordance with the provisions of the Company's articles of association, in the vacant position, effective from 6 June 2023. Announcement • Jun 01
Borouge plc Announces Resignation of Mark Tonkens as Director Borouge plc announced that Mr. Mark Tonkens has resigned as a director of the Company, effective from 31 May 2023. The Company is in the process of identifying and appointing a suitable replacement for Mr. Tonkens in accordance with its articles of association, and will update the market in due course. Reported Earnings • Apr 29
First quarter 2023 earnings released: EPS: US$0.01 (vs US$0.012 in 1Q 2022) First quarter 2023 results: EPS: US$0.01 (down from US$0.012 in 1Q 2022). Revenue: US$1.38b (down 13% from 1Q 2022). Net income: US$197.8m (down 45% from 1Q 2022). Profit margin: 14% (down from 23% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Chemicals industry in Asia. Major Estimate Revision • Apr 27
Consensus EPS estimates fall by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$6.20b to US$6.12b. EPS estimate also fell from US$0.045 per share to US$0.037 per share. Net income forecast to grow 30% next year vs 23% growth forecast for Chemicals industry in United Arab Emirates. Consensus price target of د.إ3.01 unchanged from last update. Share price was steady at د.إ2.62 over the past week. Announcement • Feb 20
Borouge plc Proposes Cash Dividend for the Second Half of the Financial Year Ended 31 December 2022 Borouge plc at its AGM to be held on March 13, 2023, to approve the recommendation of the Board of Directors concerning a cash dividend distribution ofUSD 650,000,000 (equivalent to AED 2,387,125,000 amounting to approximately 7.9 fils per share) for the second half of the financial year ended 31December 2022 bringing the total post IPO cash dividend for the year ended 31 December 2022 to USD 975 million. Announcement • Feb 11
Borouge plc, Annual General Meeting, Mar 13, 2023 Borouge plc, Annual General Meeting, Mar 13, 2023, at 11:30 Coordinated Universal Time. Announcement • Feb 03
Borouge plc to Report Q1, 2023 Results on Apr 28, 2023 Borouge plc announced that they will report Q1, 2023 results on Apr 28, 2023 Announcement • Feb 02
Borouge plc to Report Fiscal Year 2022 Results on Feb 01, 2023 Borouge plc announced that they will report fiscal year 2022 results on Feb 01, 2023 Announcement • Sep 23
Borouge plc Announces General Assembly Approval for Its 2022 Interim Dividend Payment Borouge plc announced General Assembly approval for its 2022 interim dividend payment of USD 325 million (AED 1.2 billion) equivalent to 3.97 fils per share. The interim dividend will be paid to shareholders of record as at 3 October 2022 and is the first payment of the expected total fiscal year 2022 dividend of USD 975 million (AED 3.6 billion) equivalent to 11.91 fils per share. Announcement • Jul 30
Borouge plc to Report Q3, 2022 Results on Oct 28, 2022 Borouge plc announced that they will report Q3, 2022 results on Oct 28, 2022 Announcement • Jul 23
Borouge plc to Report Q2, 2022 Results on Jul 27, 2022 Borouge plc announced that they will report Q2, 2022 results on Jul 27, 2022 Announcement • Jun 04
Borouge plc has completed an IPO in the amount of AED 7.364134 billion. Borouge plc has completed an IPO in the amount of AED 7.364134 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 360,692,299
Price\Range: AED 2.45
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,787,934,002
Price\Range: AED 2.45
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 857,142,857
Price\Range: AED 2.45
Transaction Features: Regulation S; Reserved Share Offering; Rule 144A 
