Borealis Doubles Profit and Expects Challenging Market Conditions

Industrials › Chemicals ♦ Published: August 11, 2011; 13:39 ♦ (Vindobona)

The Austrian chemical company delivered strong second quarter results despite a softening market environment.

Borealis Doubles Profit and Expects Challenging Market Conditions / Picture: © Borealis

Borealis, in which OMV holds a stake of 36%, recorded significant growth in the first half of 2011. Revenue increased from € 3.03bn to € 3.76bn, net profit more than doubled and amounted to € 341m (after € 146m). The second quarter also showed a strong development despite “increasingly challenging market conditions”, as the company announced on Thursday.

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