Abu Dhabi, UAE – Brugge PLC announced its financial and operating results for the first quarter of 2026. It achieved revenues worth 4.41 billion dirhams, “$1.2 billion”, and adjusted profits before deducting interest, taxes, depreciation and amortization amounting to 1.26 billion dirhams, “$343 million”. Net profits amounted to 573 million dirhams, “$156 million”, despite current regional developments and logistical challenges.
Bruges’ results were supported by strong operational performance, with the company producing 1.21 million tons. Equivalent to 98% of nominal production capacity.
Alternative logistics routes
Despite developments affecting navigation in the Strait of Hormuz, Bruges successfully routed 61% of March production via alternative logistics routes.
Prices also saw strong growth of 62% during March, driven by a global shortage in supplies of polyolefin products. This increase continued through April, supporting the company’s positive full-year performance outlook.
During the first quarter, Bruges PLC recorded a production volume of 1.21 million tons, with an operating rate of 98% of the production capacity. This confirms the solidity of the company’s operational processes, while the surplus production has been stored in preparation for distribution in the coming months. Relying on effective inventory management and alternative logistics solutions, while maintaining the highest standards of worker safety and asset protection.
Brugge PLC’s performance during the first quarter of 2026 embodies the strength of its business model and the solidity of its commercial and logistics platform. Supported by effective business continuity planning and close coordination with partners, stakeholders and local authorities.
Brugge achieved strong revenues amounting to 4.41 billion dirhams, or 1.2 billion dollars, during the first quarter. It has activated alternative distribution routes as a result of the unrest in the Strait of Hormuz, while incorporating rising shipping costs into its pricing strategy.
supply support
The rapid response to business continuity plans contributed to supporting supplies and strengthening the company’s relationships with its customers during the period of turmoil.
Prog PLC shareholders approved a total dividend of AED 4.85 billion ($1.32 billion) for the fiscal year 2025, “16.2 fils per share”. This was during the annual meeting of the General Assembly held on April 7, 2026.
Bruges International is expected to maintain this level of distribution until at least 2030. This is subject to shareholder approval.
The total final dividend for 2025 approved by shareholders is AED 2.42 billion ($658 million), or 8.1 fils per share. It will be paid on or about May 5, 2026 or close to this date, to shareholders registered until April 17, 2026.
Operating rights for the “Bruges 4” project
Under a recent agreement with ADNOC and OMV, Bruges PLC has acquired the rights to operate the massive Bruges 4 project and market its products. Without the need to pay any upfront capital costs, the project is expected to generate cumulative net profits of AED 1.47 billion, or $400 million, over the next three years. The equivalent of an annual growth in Prog PLC profits of approximately 10% after reaching full operating capacity. Financial results are subject to market factors, operational processes and regulatory factors.
Brugge PLC also achieved an added value of AED 525 million, or $143 million, during the first quarter of 2026. Through its digital transformation and technology program based on artificial intelligence. In addition to making progress in the 3D printing and digital repository initiative. The company manufactured essential spare parts on demand, which contributed to reducing delivery times and reducing storage costs.
