EBITDA1 of NOK 510 million in the 2nd quarter

Stock exchange release:

Borregaard’s operating revenues were NOK 1,949 million (NOK 1,963 million) ² in the 2 ^nd quarter of 2024. EBITDA ¹ was NOK 510 million (NOK 537 million). The result in BioSolutions increased while the result in BioMaterials was lower compared with the 2 ^nd quarter of 2023. Fine Chemicals delivered a strong result slightly below the same quarter last year.

Improved product mix and reduced energy costs were the main reasons for a strong result in BioSolutions. In BioMaterials, the result was affected by lower sales prices, higher wood costs and an increase in other operating expenses, mainly due to cost inflation. Fine Chemicals had a solid result in the quarter. High deliveries and stable prices for bioethanol and a favourable product mix for fine chemical intermediates contributed positively to the result. The net currency effects were negative for the Group.

Profit before tax was NOK 322 million (NOK 379 million). Earnings per share were NOK 2.45 (NOK 2.84).

- We are pleased with the strong performance in BioSolutions and a solid result for the Group, says President and CEO Per A. Sørlie.

Contacts:
Director Investor Relations, Knut-Harald Bakke, +47 905 79 164
SVP Organisation and Public Affairs, Dag Arthur Aasbø, +47 918 34 108

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 17 July 2024 at 07:00 CEST.

Borregaard reported second quarter 2024 results on Wednesday 17 July 2023 at 07:00 CEST.