Borregaard’s 3rd quarter results

All-time high result for the Group

Borregaard’s operating revenues were NOK 1,102 million (NOK 1,069 million)1 in the 3rd quarter of 2016. EBITA adjusted2 increased to NOK 216 million (NOK 160 million), an all-time high quarterly result. Compared with the 3rd quarter of 2015, all business areas improved their EBITA adjusted. Currency, including hedging effects, contributed positively by approximately NOK 40 million, benefitting all business areas. Energy conservation measures continued to contribute positively at the Sarpsborg site.

Performance Chemicals improved its EBITA adjusted level mainly due to positive currency and mix effects. Currency effects, lower energy consumption and contribution from bioethanol explain the progress in Speciality Cellulose. The higher EBITA adjusted in Other Businesses was due to positive currency effects and a strong quarter for Ingredients.

Profit before tax was NOK 205 million (NOK 151 million). Earnings per share increased to NOK 1.57 (NOK 1.12)

- We report an all-time high result for the Group and are pleased to note that all three business areas made progress even without the favourable currency effects, 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 amortization and other income and expenses