Significant progress for Performance Chemicals

(29.4.2014) Borregaard’s operating revenues totalled NOK 992 million (NOK 950 million1) in the 1st quarter of 2014. EBITA2 amounted to NOK 99 million, compared with NOK 109 million in the corresponding quarter of 2013.

Significant progress for Performance Chemicals was more than off-set by an EBITA decline in Specialty Cellulose. Reduced wood cost and a weaker NOK contributed positively.

EBITA in Performance Chemicals increased due to improved product mix, higher invoiced prices and favourable currency impact. The decline in Specialty Cellulose is primarily a result of lower prices and a weaker product mix. In Other Businesses, higher corporate costs were off-set by an improved result in the Fine Chemicals business.

Group profit before tax amounted to NOK 92 million (NOK 95 million) in the 1st quarter of 2014. Earnings per share was NOK 0.65 (NOK 0.65) in the 1st quarter.

- We are particularly satisfied with the all-time-high quarterly result for our Performance Chemicals business. The other business areas were in line with our expectations, 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.