Abu Dhabi, UAE – Brugge PLC recorded net profits of AED 701 million, or $191 million, during the second quarter of this year. Compared to 573 million dirhams, or $156 million, during the first quarter of the year, an increase of approximately 23%. Supported by sales volumes of 0.9 million tons.
The company specializes in petrochemicals and provides innovative and diverse polyolefin solutions, and is listed on the Abu Dhabi Securities Exchange.
revenues rising
The company’s revenues increased by about 20% during the second quarter of this year to 5.16 billion dirhams, or 1.4 billion dollars. Compared to 4.41 billion dirhams, or 1.2 billion dollars, during the first quarter of 2026. This is thanks to the flexibility of the company’s operational and business processes.
The company reported that achieving flexible financial results during the second quarter of 2026 confirms the strength of its operational operations and the flexibility of supply chains. And commitment to a disciplined financial approach, despite regional geopolitical challenges.
The company confirmed that it had succeeded in fully restoring operational readiness to all affected assets, following the accident that occurred in Ruwais Industrial City on April 5. This was ahead of schedule, as repair work was completed by the end of last June. The company also succeeded in shipping the full quantities produced during this quarter, in addition to shipping additional quantities of stored products.
Developing alternative logistics routes
The company benefited from a 53% increase in average selling prices compared to the first quarter of 2026, driven by improved global polyolefin prices and record price premiums achieved by specialized Bruges products.
During the second quarter of 2026, Bruges PLC’s production volume reached 0.7 million tons. The company’s sales volume reached 0.9 million tons.
The company has successfully developed alternative logistics routes to the Strait of Hormuz via land, sea, and rail transportation. This enabled it to ship quantities exceeding production volumes during the quarter, ensuring continuity of supplies to customers. Despite regional unrest.
Restore full operational readiness
The company’s average operating rate during the quarter reached 60%, with all assets restored to full operational readiness. Bruges is in a position to return to high operating rates during the second half of 2026. This is subject to the availability of logistics services and raw materials.
Although the increase in average selling prices achieved contributed to offsetting part of the increase in shipping and logistics costs and the rise in “primary propylene” prices. However, adjusted profit margins before deducting interest, taxes, depreciation and amortization. I was temporarily affected by these high costs during this quarter.
The company will provide further guidance and updates as needed in light of developments in regional situations. Bruges also has significant financial flexibility that enables it to efficiently deal with any short-term operational disruptions.
