Borregaard's operating revenues increased to NOK 1,260 million (NOK 1,239
million)¹ in the 3(rd) quarter of 2020. EBITDA² was NOK 266 million (NOK 286
million). Fine Chemicals had an improved result, whereas BioSolutions and
BioMaterials had weaker results compared with the corresponding quarter in
2019.
During the 3(rd) quarter, Covid-19 affected sales and results. Negative effects
on demand for certain biopolymers specialities and less specialised cellulose
grades are mainly related to the coronavirus situation.
For BioSolutions, higher costs related to transatlantic shipments and low demand
in the US market affected the result negatively. In BioMaterials, the effect of
a reduced sales volume was offset by lower wood and energy costs. For Fine
Chemicals, higher sales volume and prices for bioethanol were the main reasons
for the improved result. The total net currency impact on EBITDA was slightly
negative compared with the same quarter in 2019.
Profit before tax was NOK 133 million (NOK 156 million). Earnings per share were
NOK 1.12 (NOK 1.31).
- Our third quarter results were influenced by a Covid-19 related drop in
demand, particularly for some of our biopolymers specialities in the US market.
We are pleased to report progress in Fine Chemicals, says President and CEO Per
A. Sørlie.
Contacts:
Director Investor Relations, Jørn Syvertsen, +47 958 36 335
Communication Manager, Tone Horvei Bredal, +47 924 67 711
1. Figures in parentheses are for the corresponding period in the preceding year
2. Operating profit before depreciation, amortisation and other income and
expenses
This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act.