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Borealis financials

Borealis Revenue

Borealis revenue was €8.1 b in FY, 2019 which is a 2.8% year over year decrease from the previous period.

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Summary - Funding Rounds

Founding Date	1994

Borealis is a subsidiary of Mubadala

Borealis Revenue Breakdown

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Borealis revenue breakdown by business segment: 63.5% from Polyolefins, 18.4% from Base Chemicals, 15.6% from Borealis NITRO and 2.6% from Other

Borealis revenue breakdown by geographic segment: 74.4% from EU Countries, 6.0% from Middle East and Asia, 9.7% from Non-EU Countries in Europe, 7.1% from Other and 2.8% from Other

Annual

EUR	FY, 2017	FY, 2018	FY, 2019
Revenue	7.6b	8.3b	8.1b
Revenue growth, %		10%	(3%)
Cost of goods sold	5.8b	6.8b	6.4b
Gross profit	1.8b	1.5b	1.7b
Gross profit Margin, %	24%	18%	21%
Sales and marketing expense	673.0m	703.7m	717.1m
R&D expense	138.4m	127.7m	144.6m
General and administrative expense	219.6m	226.3m	249.5m
Operating expense total	1.0b	1.1b	1.1b
EBIT	790.7m	495.9m	604.5m
EBIT margin, %	10%	6%	7%
Interest expense	45.1m	39.0m	39.4m
Interest income	4.4m	6.1m	13.3m
Pre tax profit	1.3b	1.1b	953.8m
Income tax expense	172.8m	164.0m	81.8m
Net Income	1.1b	906.2m	872.0m

Half Year

EUR	H1, 2018	H1, 2019	H1, 2020
Revenue	4.2b	4.3b	3.5b
Cost of goods sold	3.3b	3.4b	2.8b
Gross profit	893.4m	876.7m	657.1m
Gross profit Margin, %	21%	20%	19%
Sales and marketing expense	346.4m	359.8m	352.0m
R&D expense	65.4m	67.1m	82.8m
General and administrative expense	108.9m	109.7m	118.5m
Operating expense total	520.6m	536.6m	553.3m
EBIT	396.2m	340.1m	103.7m
EBIT margin, %	9%	8%	3%
Pre tax profit	641.3m	551.7m	235.6m
Income tax expense	108.5m	24.1m	20.4m
Net Income	532.9m	527.6m	215.2m

Annual

EUR	FY, 2017	FY, 2018	FY, 2019
Cash	229.1m	72.3m	106.3m
Accounts Receivable	574.0m	691.0m	749.9m
Inventories	1.2b	1.2b	1.1b
Current Assets	2.6b	2.7b	2.4b
PP&E	2.9b	2.9b	2.9b
Goodwill	142.0m	159.0m	159.0m
Total Assets	9.4b	9.9b	10.1b
Accounts Payable	797.8m	852.5m	746.5m
Short-term debt	174.9m	651.1m	268.1m
Current Liabilities	1.4b	2.0b	1.5b
Long-term debt	844.2m	726.5m	1.4b
Non-Current Liabilities	1.6b	1.5b	2.2b
Total Debt	1.0b	1.4b	1.7b
Total Liabilities	3.0b	3.5b	3.7b
Common Stock	1.6b	1.6b	1.6b
Retained Earnings	4.9b	4.8b	4.8b
Total Equity	6.4b	6.4b	6.5b
Debt to Equity Ratio	0.2 x	0.2 x	0.3 x
Debt to Assets Ratio	0.1 x	0.1 x	0.2 x
Financial Leverage	1.5 x	1.5 x	1.6 x

Half Year

EUR	H1, 2018	H1, 2019	H1, 2020
Cash	86.1m	142.9m	148.2m
Accounts Receivable	736.3m	870.7m	628.1m
Inventories	1.1b	1.1b	903.8m
Current Assets	2.6b	2.7b	2.0b
PP&E	2.9b	2.8b	3.1b
Total Assets	9.6b	10.3b	10.3b
Accounts Payable	779.8m	827.1m	650.4m
Short-term debt	429.4m	579.8m	463.9m
Current Liabilities	1.7b	2.0b	1.6b
Long-term debt	830.6m	1.0b	1.6b
Non-Current Liabilities	1.6b	1.8b	2.4b
Total Debt	1.3b	1.6b	2.1b
Total Liabilities	3.3b	3.8b	4.0b
Common Stock	1.6b	1.6b	1.6b
Retained Earnings	4.7b	4.9b	4.7b
Total Equity	6.3b	6.5b	6.3b
Debt to Equity Ratio	0.2 x	0.2 x	0.3 x
Debt to Assets Ratio	0.1 x	0.2 x	0.2 x
Financial Leverage	1.5 x	1.6 x	1.6 x

Annual

EUR	FY, 2017	FY, 2018	FY, 2019
Cash From Operating Activities	725.1m	517.5m	873.2m
Purchases of PP&E	(453.2m)	(326.3m)	(375.8m)
Capital Expenditures	(51.8m)	(93.8m)	(95.0m)
Cash From Investing Activities	(140.7m)	(25.7m)	(41.3m)
Short-term Borrowings	(497.1m)	(374.6m)	(768.9m)
Long-term Borrowings			(38.7m)
Dividends Paid	(751.0m)	(1.0b)	(825.6m)
Cash From Financing Activities	(1.1b)	(648.1m)	(797.9m)
Net Change in Cash	(532.2m)	(156.3m)	33.9m
Interest Paid	41.7m	35.7m	40.4m
Income Taxes Paid	259.7m	154.1m	225.0m
Free Cash Flow	673.3m	423.7m	778.2m

Half Year

EUR	H1, 2018	H1, 2019	H1, 2020
Cash From Operating Activities	279.8m	399.4m	598.2m
Purchases of PP&E	(140.5m)	(134.1m)	(277.2m)
Capital Expenditures	(23.7m)	(33.7m)	(35.0m)
Cash From Investing Activities	41.2m	74.9m	(686.9m)
Short-term Borrowings	(129.5m)	(360.6m)	(146.9m)
Long-term Borrowings		(17.8m)	(21.5m)
Dividends Paid	(700.0m)	(400.0m)	(300.0m)
Cash From Financing Activities	(463.5m)	(403.8m)	131.2m
Net Change in Cash	(142.4m)	40.5m	42.5m
Interest Paid	17.7m	14.8m	20.5m
Income Taxes Paid	87.8m	100.4m	53.6m
Free Cash Flow	256.1m	365.7m	563.2m

EUR	FY, 2017
Revenue/Employee	1.2m
Debt/Equity	0.2 x
Debt/Assets	0.1 x
Financial Leverage	1.5 x

	H1, 2017	FY, 2017	H1, 2018	FY, 2018	H1, 2019	FY, 2019	Feb, 2020	H1, 2020
Countries (Customers)		120		120	120	120	120
Feedstock for Fertilizer Production, kilotonnes		1.43 k		1.35 k
Feedstock for Olefins Production, gigawatt hours						14.78 k
Feedstock for Olefins Production, kilotonnes		2.39 k		2.56 k		2.93 k
Fertilizer Capacity, tonnes						1.7 m
Fertilizers Consumed (Big Bags), kg per 1000 kg Produced Material		0.59		0.53		0.96
Fertilizers Consumed (Form Fill Seal), kg per 1000 kg Produced Material		0.22		0.13		0.09
Industries Served	6	7	7	7	7	7		7
New Patents		106				120
Olefins for Polyolefin Production, kilotonnes		1.38 k		1.42 k		1.52 k
Patent Families		1.6 k	1.6 k
Patents Issued				6.4 k		6.9 k
Patents Pending				2.8 k		3 k
Polyolefins Consumed (Big Bags), kg per 1000 kg Produced Material		3.91		3.93
Polyolefins Consumed (Carton), kg per 1000 kg Produced Material		13.39		13.86
Polyolefins Consumed (Form Fill Seal), kg per 1000 kg Produced Material		4.36		4.29
Polyolefins Consumed (Other Materials), kg per 1000 kg Produced Material		1.01		1.14
Polyolefins Production, tonnes		4.5 m
Suppliers (Raw Materials and Packaging)		700		700
Technical Suppliers		6.5 k		6.5 k		6.5 k
Total Fertilizers Consumed, kg per 1000 kg Produced Material		0.82		0.66		1.05
Total Polyolefins Consumed, kg per 1000 kg Produced Material		22.67		23.22
Vendors		10 k		10 k		7 k