EBITDA1 of NOK 442 million in the 1st quarter

Stock exchange release:

Borregaard’s operating revenues reached NOK 1,975 million (NOK 1,850 million) ² in the 1 ^st quarter of 2024. EBITDA ¹ increased to NOK 442 million (NOK 435 million). The result in BioSolutions increased while results in BioMaterials and Fine Chemicals were lower compared with the 1 ^st quarter of 2023.

The result in BioSolutions increased due to higher sales volume and reduced energy costs. In BioMaterials, higher sales volume was more than offset by lower sales prices and higher wood costs. Fine Chemicals had a lower result due to low bioethanol deliveries and increased costs. The net currency effects were slightly negative for the Group.

Profit before tax was NOK 261 million (NOK 292 million). Earnings per share were NOK 2.01 (NOK 2.32).

- We are pleased with the strong result improvement in BioSolutions and the positive sales volume development for the Group, 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 April 2024 at 07:00 CEST.

Borregaard reported first quarter 2024 results on Wednesday 24 April 2024 at 07:00 CET.