All-time high result for performance chemicals

Tone Horvei Bredal,   16/07/2014

Borregaard’s operating revenues totalled NOK 993 million (NOK 952 million)1 in the 2nd quarter of 2014. EBITA2 was NOK 130 million, compared with NOK 137 million in the corresponding quarter of 2013 and NOK 99 million in the preceding quarter.

Performance Chemicals improved its EBITA in the 2nd quarter to an all-time high level, while a decline was recorded for Specialty Cellulose and Other Businesses.

EBITA in Performance Chemicals advanced as an improved product mix and higher sales prices more than compensated for a 7% volume decrease. The decline in Specialty Cellulose was primarily attributable to lower sales prices. EBITA in Other Businesses decreased due to a weaker product mix for the Fine Chemicals business. Lower production output at the Sarpsborg plant had a negative impact on EBITA in the quarter, while the overall currency impact relative to the 2nd quarter of 2013 was positive.

 Group profit before tax amounted to NOK 126 million (NOK 122 million) in the 2nd quarter of 2014. Earnings per share in the 2nd quarter were NOK 0.91 (NOK 0.88).

- We are pleased with the new all-time high quarterly result for our Performance Chemicals business. The other business areas were in line with our expectations, says President and CEO at Borregaard, Per A. Sørlie.

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