Abu Dhabi, United Arab Emirates – Prog PLC announced a 52% increase in net profits for the third quarter of 2025, compared to the previous quarter.
To reach 1.08 billion dirhams, “$295 million”, exceeding market expectations.
Driven by a record high in production, strong sales, and stable profit margins, following the success of planned periodic maintenance work at the Bruges 3 plant during the second quarter.
Adjusted profits rose to 2.07 billion dirhams, or $565 million, during the third quarter.
This is before deducting interest, taxes, depreciation and amortization, with strong profit margins of 39%, compared to 34% in the previous quarter.
These high margins reflect strong sales volume and lower operating costs across the sector.
In addition to the solid price premiums, and thanks to the quality of the products.
Despite the decline in average selling prices compared to the previous quarter, Bruges achieved price premiums of 855 dirhams “$233” per ton for polyethylene, and 521 dirhams “$142” per ton for polypropylene, during the first nine months of 2025.
increase in production
During the first nine months of 2025, Bruges achieved revenues amounting to 15.32 billion dirhams, or $4.17 billion, compared to 16.18 billion dirhams, or $4.41 billion, during the same period in 2024.
This was due to a decrease in average selling prices, which was offset by an increase in production volume.
Hazim Sultan Al Suwaidi, CEO of Brugge, said that the outstanding results during the third quarter strengthen Brugge’s position as the most profitable polyolefin company in the world.
It recorded a growth of more than 50% in net profits, despite market challenges, benefiting from strong operating performance.
In addition to record production following the success of planned maintenance work in the second quarter, and the company’s high efficiency in cost management.
He added that Bruges’ high rates of converting profits into cash flows strengthen its position among the top companies in providing dividend returns on the Abu Dhabi Securities Market.
It also reaffirms its intention to increase Bruges’ dividends for 2025 to 16.2 fils per share.
Bruges continues its expansion projects, with the completion rate of the huge Bruges 4 project exceeding 90%.
The first production unit is expected to start operating at the end of this year, and when the project enters full operation, it will add an annual production capacity of 1.4 million tons.
This contributes to enhancing Bruges’ ability to achieve sustainable profits and expand its presence in the markets.
This project will constitute one of the main assets within the Bruges International Group, to which ownership of the project is expected to be transferred at cost upon completion.
