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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.

Shuaa Capital PSC held a board meeting to review company activities and progress on capital structure improvement plans. The board approved two convertible bond issuances, pending necessary regulatory approvals, with final terms to be presented at the next board meeting. The decision to call a general assembly meeting for shareholder approval of the convertible bonds was postponed to the next board meeting scheduled for November 13, 2024.

Takaful Emarat Insurance PJSC has announced a capital increase from AED 25,652,000 to a maximum of AED 185,000,000 through a rights issue, as approved by the General Assembly on 27 February 2024 and 14 June 2024. Shareholders are informed that the record date for this rights issue is set for Friday, 1 November 2024. Any changes to this date will be disclosed on the Dubai Financial Market website. The company will also announce important dates related to the rights issue in the prospectus.