Borregaard's EBITA adj. NOK 73 million (NOK 94 million) in the 4th quarter

2020-02-05

Feb. 5, 2020 - Borregaard’s operating revenues increased to NOK 1,234 million (NOK 1,219 million)¹ in the 4thquarter of 2019. EBITA adj.² was NOK 73 million (NOK 94 million). Other Businesses improved its result, whereas Performance Chemicals and Speciality Cellulose had a decline. The operational incidents affecting production at the Sarpsborg site had a negative impact on EBITA adj.² of about NOK 35 million. 

Performance Chemicals had a favourable product mix, but reduced sales volume and higher costs and depreciation. Speciality Cellulose was negatively affected by the operational incidents at the Sarpsborg site. Other Businesses improved as a result of higher sales in Ingredients. The net currency impact was positive.

Profit before tax was NOK 30 million (NOK 84 million). Earnings per share were NOK 0.38 (NOK 0.80).

Full year 2019

Operating revenues in 2019 reached NOK 5,063 million (NOK 4,785 million). EBITA adj.² was NOK 589 million (NOK 580 million). Profit before tax was NOK 467 million (NOK 562 million). Earnings per share were NOK 4.17 (NOK 4.76).

- 2019 marked the completion of a strategic investment programme that will lay the foundation for future growth and development. We are pleased to see product mix improvements in most business areas and a continued strong result in wood based vanillin. The financial result was also affected by increased costs and depreciation, as well as the operational incidents at the Sarpsborg site, says President and CEO Per A. Sørlie.