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3rd quarter 2016 results

Borregaard reported 3rd quarter 2016 results on Friday 21 October 2016.

Stock exchange release:

Borregaard: All-time high result for the Group

Borregaard’s 3rd quarter results

Borregaard’s operating revenues were NOK 1,102 million (NOK 1,069 million)1 in the 3rd quarter of 2016. EBITA adjusted2 increased to NOK 216 million (NOK 160 million), an all-time high quarterly result. Compared with the 3rd quarter of 2015, all business areas improved their EBITA adjusted. Currency, including hedging effects, contributed positively by approximately NOK 40 million, benefitting all business areas. Energy conservation measures continued to contribute positively at the Sarpsborg site.

Performance Chemicals improved its EBITA adjusted level mainly due to positive currency and mix effects. Currency effects, lower energy consumption and contribution from bioethanol explain the progress in Speciality Cellulose. The higher EBITA adjusted in Other Businesses was due to positive currency effects and a strong quarter for Ingredients.

Profit before tax was NOK 205 million (NOK 151 million). Earnings per share increased to NOK 1.57 (NOK 1.12).

- We report an all-time high result for the Group and are pleased to note that all three business areas made progress even without the favourable currency effects, says President and CEO Per A. Sørlie.

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

Borregaard's 3rd quarter 2016 presentation, report as well as quarterly and accounting figures are available to download from the download center.