Borregaard – a global leader in biochemicals

Borregaard operates one of the world's most advanced and sustainable biorefineries. By using natural, sustainable raw materials, we produce advanced and environmentally friendly biochemicals that can replace fossil-based products. 

In Borregaard’s biorefinery concept, high value added is achieved through full raw material utilisation. By using all the components of the biomass, we produce lignin-based biopolymers and biovanillin, speciality cellulose, cellulose fibrils and advanced bioethanol for a variety of applications in sectors such as feed and agriculture, construction and building materials, food and pharma, personal care, batteries and biofuel.

The diversified product portfolio and global sales exposure provide flexibility and serve as an inherent hedge against market fluctuations. At the same time, Borregaard’s specialisation strategy and presence in global niches keep introducing new options to a variety of end-markets. With the unique combination of a high-value raw material base, biorefinery assets and expert knowledge, Borregaard is attractively positioned to capitalise on the increasing momentum for bio-based solutions.

We are recognised as a global leader in corporate climate action. While having a positive impact on our society when it comes to social, environmental and economic aspects, we continue to commit to our financial objectives:

  • Return on capital employed* (ROCE) above 15% pre-tax over a business cycle
  • Internal rate of return (IRR) above 15% pre-tax for expansion investments
  • Average net working capital at 20% of operating revenues
  • Replacement investments at depreciation level
  • Leverage ratio* between 1.0 and 2.25 over time to maintain "investment grade" credit quality
  • Regular and progressive dividends of between 30% and 50% of net profit

*) Alternative performance measure – see Annual Report


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Lotte Kvinlaug
Lotte Kvinlaug
Investor Relations Officer
+47 69 11 80 92 / +47 922 86 909
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Knut-Harald Bakke
Knut-Harald Bakke
Director Investor Relations
+47 905 79 164
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