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Borouge PLC has released its Management Discussion & Analysis for the second quarter and first half of 2024, dated July 31, 2024.

Borouge PLC has released its Directors' Report, Review Report, and Interim Condensed Consolidated Financial Statements for the period ending on 30 June 2024.

On 30 July 2024, Borouge PLC's Board of Directors held a meeting via video conference. The Board approved the company's financial results for Q2 2024 and proposed an interim cash dividend distribution of USD 650 million (approximately AED 2.387 billion, or 7.9 fils per share) for the first half of 2024. The proposal will be considered by the General Assembly on 29 August 2024. The Board also reviewed recent company activities and projects. The notification was signed by CEO Hazeem Sultan Al Suwaidi and a copy was sent to the Securities and Commodities Authority (SCA).

Borouge Plc, a leading petrochemicals company, reported a 33% year-on-year increase in net profit for Q2 2024, reaching $308 million. This growth was driven by record production volumes, strong sales, and cost efficiencies. The company's Q2 revenue increased by 6% year-on-year to $1.5 billion, and its EBITDA margin rose to 41%. Borouge's sales volume grew by 16% quarter-on-quarter and 9% year-on-year. The Borouge 4 growth project is over 70% complete and will increase annual production capacity by 28%. The company remains committed to a $1.3 billion dividend for 2024, with a current yield of 6.5%. Borouge leveraged its competitive advantage in key markets, maintaining robust price premiums for polyethylene and polypropylene. The company achieved record production levels with high utilisation rates and maintained strong operational performance.

PureHealth reported a net profit of AED 1.0 billion for the first half of 2024, with EBITDA rising to AED 2.2 billion, a 15% increase from the previous year. Consolidated revenue grew by 53% to AED 12.5 billion, driven by the Hospitals segment and supported by organic growth and acquisitions. Despite the growth, net profit decreased by 26% year-on-year due to accounting changes, finance costs from acquisitions, and corporate income tax charges, resulting in a net profit margin of 8.0%. Significant acquisitions included Circle Health Group and Sheikh Shakhbout Medical City, while the company divested its investments in YAS Clinics Group and Abu Dhabi Stem Cells Centre. The Hospitals segment saw an 83% revenue increase and 9% EBITDA growth, attributed to higher patient volumes and strategic acquisitions. The Insurance vertical, comprising Daman, reported a 15% revenue increase and a 79% rise in EBITDA, driven by higher premiums and increased membership. Total assets increased to AED 47.6 billion, with a total cash balance of AED 7.4 billion and a net cash balance of AED 5.4 billion as of June 30, 2024.

Pure Health Holding PJSC has released its interim condensed consolidated financial statements for the period ending June 30, 2024.