2nd quarter 2021 results

Borregaard reported second quarter 2021 results on Thursday 15 July 2021 at 07:00 CET.

Stock exchange release:

Borregaard ASA: All-time high EBITDA of NOK 416 million in the 2nd quarter

Borregaard’s operating revenues reached NOK 1,511 million (NOK 1,358 million)² in the 2nd quarter of 2021. EBITDA¹ increased to NOK 416 million (NOK 361 million), an all-time high quarterly result for the Group. BioSolutions’ result improved significantly, BioMaterials achieved a result in line with last year, whereas Fine Chemicals had a decline. The net currency impact on EBITDA was negative compared with the 2nd quarter of 2020.

EBITDA in BioSolutions improved, mainly as a result of price increases and a favourable product mix, partly offset by negative net currency effects. For BioMaterials, high deliveries of speciality cellulose and an improved product mix compensated for reduced sales prices for certain grades. The decline in Fine Chemicals was mainly due to non-recurring bioethanol sales to disinfectants in the 2nd quarter last year. A strong production output at the Sarpsborg site had a positive impact on the Group’s results.

Profit before tax was NOK 296 million (NOK 133 million). Earnings per share was NOK 2.34 (NOK 1.01).

We are pleased to deliver an all-time high result for the Group and a significant improvement in BioSolutions, says President and CEO Per A. Sørlie.

Director Investor Relations, Jørn Syvertsen, +47 958 36 335
SVP Organisation and Public Affairs, Dag Arthur Aasbø, +47 918 34 108

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

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.