Skip to main content

Borregaard ASA: EBITDA1 of NOK 524 million in the 3rd quarter

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

Borregaard’s operating revenues were NOK 1,949 million (NOK 1,714 million)2 in the 3rd quarter of 2024. EBITDA1 reached NOK 524 million (NOK 482 million). The result in both BioSolutions and Fine Chemicals increased while the result in BioMaterials was lower compared with the 3rd quarter of 2023.

Increased sales volume was the main reason for the improved result in BioSolutions. For BioMaterials, significantly higher deliveries were more than offset by increased wood costs and other operating expenses. The main reasons for the stronger result in Fine Chemicals were significantly higher deliveries of bioethanol and a favourable product mix for fine chemical intermediates. The net currency effects were slightly positive.

Profit before tax was NOK 326 million (NOK 318 million). Earnings per share were NOK 2.51 (NOK 2.38).

Borregaard will invest NOK 490 million to debottleneck and increase the capacity at the Sarpsborg site. The debottlenecking is the first out of two planned steps to increase capacity at the Sarpsborg site towards 2027. In total, the expected capacity increase is 5-10%. Production output is expected to increase gradually from the second half of 2026.

– We are pleased with the Group’s solid performance in the quarter. The strategic investment decision to debottleneck the Sarpsborg site will increase capacity for lignin-based biopolymers, speciality cellulose and bioethanol. In addition, this investment will lead to higher raw material utilisation and a reduction of effluents to water, says President and CEO Per A. Sørlie.

Contacts:
Director Investor Relations, Knut-Harald Bakke, +47 905 79 164
SVP Organisation and Public Affairs, Dag Arthur Aasbø, +47 918 34 108

1. Operating profit before depreciation, amortisation and other income and expenses
2. Figures in parentheses are for the corresponding period in the preceding year

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5 – 12 of the Norwegian Securities Trading Act.

This stock exchange announcement was published by Lotte Kvinlaug, Investor Relations Officer at Borregaard ASA, on 30 October 2024 at 07:00 CET.

Attachments

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.