Another all-time high result for performance chemicals: borregaard’s 3q 2014 results

Borregaard’s operating revenues totalled NOK 1,003 million (NOK 1,016 million)1 in the 3rd quarter of 2014. EBITA2 was NOK 165 million, compared with NOK 157 million in the corresponding quarter of 2013 and NOK 130 million in the preceding quarter.

Performance Chemicals improved its EBITA in the 3rd quarter to an all-time high level, while a decline was recorded for Specialty Cellulose and Other Businesses compared with the 3rd quarter of 2013. Currency contributed positively in all business areas.

EBITA in Performance Chemicals increased compared with the corresponding quarter last year as an improved product mix and higher sales prices more than compensated for a 5% volume decrease. The decline in Specialty Cellulose was primarily due to lower sales volume and reduced sales prices. EBITA in Other Businesses decreased due to a weaker quarter for the Ingredients business.

Group profit before tax amounted to NOK 153 million (NOK 164 million) in the 3rd quarter of 2014. Earnings per share in the 3rd quarter were NOK 1.10 (NOK 1.20).

- We are pleased with another all-time high quarterly result for our Performance Chemicals business. This strong development comes as a result of several long-term initiatives, says President and CEO Per A. Sørlie.