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Borouge PLC has released its Directors' Report, Review Report, and Interim Condensed Consolidated Financial Statements as of September 30, 2024.

Borouge Plc announced a 16% year-on-year increase in net profit for the third quarter of 2024, reaching $328 million, exceeding analyst expectations. This growth was attributed to record production levels and the highest-ever quarterly sales, with sales volumes increasing by 2% year-on-year. The company achieved a 40% EBITDA margin and saw a 7% rise in revenue, resulting in a 9% increase in adjusted EBITDA to $646 million. Borouge is nearing completion of its Borouge 4 growth project, which is 80% complete and expected to boost annual production capacity by 28%. The company reaffirmed its commitment to pay a $1.3 billion dividend for the fiscal year 2024, offering a 6.3% dividend yield. Despite global market volatility, Borouge maintained strong pricing for its products, with polyethylene and polypropylene prices significantly above benchmarks. CEO Hazeem Sultan Al Suwaidi highlighted the company's continued financial and operational success, driven by technology, innovation, and operational excellence.

On October 28, 2024, the Board of Directors of Borouge PLC held a meeting via video conference. During the meeting, they approved the company's financial statements for the third quarter of the 2024 financial year and agreed to enter into a $500 million revolving credit facility. The Board also reviewed recent developments related to the company's activities and projects. The notification was sent by Hazeem Sultan Al Suwaidi, the Chief Executive Officer, and a copy was forwarded to the Securities and Commodities Authority.

On 28 October 2024, the Board of Directors of EMSTEEL Building Materials PJSC held a meeting where they elected H.E. Hamad Abdulla Mohamed Al Hammadi as the Chairman and Mr. Ahmed Ali Al Shamsi as the Vice Chairman of the Board. Additionally, the Audit and Risk Committee was formed with Mr. Abdulaziz Abdulla Al Hajri as the Committee Chairman, and Mrs. Fatima Abdulla Al Fahim and Mr. Nabeel Qadir as Committee Members.