Borregaard to invest in Alginor ASA
Borregaard will co-invest with the European Innovation Council Fund (EIC Fund) and the current shareholder Hatteland Group in a direct offering of new shares in the marine biotech company Alginor ASA.
All-time high EBITDA, NOK 416 million in Q2
Borregaard’s operating revenues reached NOK 1,511 million (NOK 1,358 million)2 in the 2nd quarter of 2021.
EBITDA increased to NOK 302 million in Q1
Borregaard’s operating revenues reached NOK 1,419 million (NOK 1,372 million)2 in the 1st quarter of 2021. EBITDA1 increased to NOK 302 million (NOK 242 million).
Ebitda of nok 263 million in Q4
Borregaard’s operating revenues increased to NOK 1,338 million (NOK 1,234 million)1 in the 4th quarter of 2020. EBITDA2 increased to NOK 263 million (NOK 183 million). All business areas improved their result compared with the corresponding quarter in 2019. The total net currency impact on EBITDA was slightly negative compared with the 4th quarter of 2019. In BioSolutions, EBITDA increased due to improved product mix for biopolymers and lower operating expenses. BioMaterials had lower wood and energy costs and high deliveries compared with the weak result in the 4th quarter of 2019, which was impacted by operational incidents at the Sarpsborg site. A favourable product mix for pharma intermediates and higher sales volume for bioethanol were the main reasons for an improved result in Fine Chemicals. Other income and expenses were NOK -20 million (NOK -11 million) in the 4th quarter due to environmental accruals for preventive measures related to former operations at the Sarpsborg site. Profit before tax was NOK 119 million (NOK 30 million). Earnings per share were NOK 1.21 (NOK 0.38). Full year 2020 Operating revenues in 2020 reached NOK 5,328 million (NOK 5,063 million). EBITDA increased to an all-time high of NOK 1,132 million (NOK 1,007 million). Profit before tax was NOK 496 million (NOK 467 million). Earnings per share were NOK 4.36 (NOK 4.17). - We are pleased with the Group’s strong performance in 2020 and the way our organisation has handled a challenging coronavirus situation with significant disruptions for our operations, says President and CEO Per A. Sørlie. Contacts:Director Investor Relations, Jørn Syvertsen, +47 958 36 335Director Communication, Tone Horvei Bredal, +47 924 67 711 1. Figures in parentheses are for the corresponding period in the preceding year2. Operating profit before depreciation, amortisation and other income and expenses
NOK 15.7 Million in research funding
Borregaard has received a commitment of NOK 15.7 million in funding from the Research Council of Norway for a project for the development of biochemicals to replace petrochemical alternatives.