Borregaard ASA Sees Promising Results in Q2
Borregaard ASA has reported a significant increase in operating revenues for the 2nd quarter. With revenues soaring to NOK 2,045 million from NOK 1,949 million the previous year, this mark reflects a commendable growth trajectory. Notably, the company's EBITDA reached NOK 522 million, an increase from NOK 510 million, showcasing a remarkable performance in the market.
Performance Breakdown by Division
BioSolutions Division
The BioSolutions segment has shown continued growth, primarily driven by robust sales to the agriculture sector. This surge has positively impacted the financial outcomes for this division, indicating strong market demand for Borregaard's unique offerings.
BioMaterials Growth
Similarly, the BioMaterials segment experienced a rise in results, attributed to higher sales prices and an improved product mix alongside increased sales volume. However, this increase faced some challenges due to elevated wood costs, which somewhat tempered the overall growth.
Challenges in Fine Chemicals
In contrast, the Fine Chemicals division encountered some difficulties, with lower sales prices for bioethanol leading to a decrease in results. Despite this setback, it's noteworthy that positive net currency effects benefited all divisions, balancing the overall financial landscape.
Financial Highlights and Leadership Remarks
Profit before tax saw a slight increase, reaching NOK 326 million, compared to NOK 322 million in the prior year. Furthermore, earnings per share rose to NOK 2.56, up from NOK 2.45, reflecting the company’s strong financial management and operational efficiency.
President and CEO Per A. Sørlie expressed pride in the improved results from BioSolutions and BioMaterials, emphasizing the impact of strong sales in agriculture and price increases for specialty cellulose. These strategic enhancements have clearly contributed to Borregaard’s positive financial report for the quarter.
Company Contacts
For further inquiries, the company can be contacted through:
Director Investor Relations, Knut-Harald Bakke, +47 905 79 164
SVP Organisation and Public Affairs, Dag Arthur Aasbø, +47 918 34 108
Understanding Company Regulations
It is important to note that this information is considered inside information as defined by the EU Market Abuse Regulation and is subject to the disclosure requirements of Section 5 – 12 of the Norwegian Securities Trading Act. This compliance reflects Borregaard’s dedication to transparency and adherence to regulatory standards.
Frequently Asked Questions
What is Borregaard ASA's EBITDA for the 2nd quarter?
Borregaard ASA's EBITDA for the second quarter reached NOK 522 million.
How did the BioSolutions segment perform?
The BioSolutions segment saw continued growth, largely due to strong sales to the agriculture market.
What challenges did Borregaard face in the Fine Chemicals division?
The Fine Chemicals division faced challenges due to lower sales prices for bioethanol.
What was the profit before tax for Borregaard ASA?
The profit before tax for Borregaard ASA was NOK 326 million.
How can I contact Borregaard ASA for investor relations?
You can contact Knut-Harald Bakke at +47 905 79 164 for investor relations inquiries.
