Borregaard EBITA adj. increased to NOK 179 million in Q2

2019-07-16

Jul. 16, 2019 - Borregaard’s operating revenues were NOK 1,340 million (NOK 1,199 million)¹ in the 2nd quarter of 2019. EBITA adj.² increased to NOK 179 million (NOK 164 million). The results in Performance Chemicals and Other Businesses improved compared with the corresponding quarter in 2018, whereas Speciality Cellulose had a decline. The net currency impact was positive.

Performance Chemicals had a favourable product mix which offset higher fixed costs and depreciation from the Florida start-up. Higher wood costs affected Speciality Cellulose negatively. Other Businesses improved as a result of higher sales prices and a favourable product mix in Ingredients.

Profit before tax was NOK 140 million (NOK 159 million). Earnings per share were NOK 1.22 (NOK 1.32).

- We are pleased with the improvement in Performance Chemicals and the continued strong performance in Ingredients, says President and CEO Per A. Sørlie.

Note:

1. Figures in parentheses are for the corresponding period in the preceding year
2. Operating profit before amortisation and other income and expenses