Borregaard's operating revenues were NOK 1,714 million (NOK 1,752 million)(2) in
the 3(rd) quarter of 2023. EBITDA(1) increased to NOK 482 million (NOK 434
million). BioMaterials and Fine Chemicals had result improvements while
BioSolutions had a decrease compared with the 3(rd) quarter of 2022.
In BioSolutions, higher sales prices and reduced energy costs were more than
offset by reduced sales volume, lower contribution from traded vanillin products
and cost inflation in general. Lower energy costs and higher sales prices were
the main reasons for the EBITDA improvement in BioMaterials. The increased
result in Fine Chemicals was mainly due to increased sales prices for
bioethanol. The net currency effects were positive in all areas.
The proposed reduction in the Norwegian CO(2) compensation scheme will impact
Borregaard's EBITDA(1) for 2023 by approximately NOK -25 million compared with
the previously calculated compensation. The reduction for the first three
quarters of 2023 is reflected in the 3(rd) quarter results.
Operating profit reached NOK 360 million (NOK 321 million). Net financial items
were NOK -42 million (NOK -12 million). Profit before tax was NOK 318 million
(NOK 309 million). Earnings per share were NOK 2.38 (NOK 2.40).
- We are pleased to deliver solid results and strong margins in all business
areas, says President and CEO Per A. Sørlie.
Contacts:
Director Investor Relations, Knut-Harald Bakke, +47 905 79 164
Director Communications, Tone Horvei Bredal, +47 924 67 711
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 considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5 - 12 of the Norwegian Securities Trading Act.
This stock exchange announcement was published by Lotte Kvinlaug, Investor
Relations Officer at Borregaard ASA, on 24 October 2023 at 07:00 CEST.