Favourable market conditions for Performance Chemicals

(05.02.14) Borregaard’s operating revenues totalled NOK 997 million (NOK 925 million)1 in the 4th quarter of 2013. EBITA amounted to NOK 90 million, compared with NOK 91 million in the corresponding quarter of 2012. For the full year 2013, EBITA amounted to NOK 501 million (NOK 546 million).

A lower EBITA level in Specialty Cellulose was compensated by progress for Performance Chemicals. Market conditions continued to be generally favourable. Reduced wood cost, high production output and the impact of a weaker NOK contributed positively. The annual maintenance stop at the Sarpsborg site in October was carried out according to plan.

EBITA in Performance Chemicals rose as improved product mix, higher prices and favourable currency impact more than off-set a reduced sales volume. The decline in Specialty Cellulose is primarily attributable to lower prices. Other Businesses suffered from lower vanillin prices. 

Full year 2013
For the full year 2013, Borregaard’s operating revenues totalled NOK 3,997 million (NOK3,941 million). EBITA amounted to NOK 501 million (NOK 546 million). Profit before tax amounted to NOK 474 million (NOK 420 million). The tax charge was NOK 143 million (NOK 142 million). Earnings per share ended at NOK 3.35 (NOK 2.76).

- A strong EBITA improvement in Performance Chemicals, lower wood cost and an all-time high production output at the Sarpsborg site contributed to satisfactory results also in 2013, says President and CEO at Borregaard Per A. Sørlie.

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