Borregaard's EBITDA increased to NOK 302 million in Q1

2021-05-18

May 1, 2021 - Borregaard’s operating revenues reached NOK 1,419 million (NOK 1,372 million) in the 1st quarter of 2021. EBITDA increased to NOK 302 million (NOK 242 million).

All business areas improved their results compared with the corresponding quarter in 2020. The net currency impact on EBITDA was negative compared with the 1st quarter of 2020.

EBITDA in BioSolutions improved as a result of price increases for certain biopolymer applications and reduced costs. The BioMaterials result improved due to high deliveries of speciality cellulose and a favourable product mix which more than compensated for lower sales prices. In Fine Chemicals, the effect of low deliveries was more than offset by a favourable product mix for fine chemical intermediates and a high production volume of bioethanol.

Profit before tax was NOK 176 million (NOK 111 million). Earnings per share was NOK 1.47 (NOK 1.02).

- We are pleased to deliver a strong result with improvement in all business areas, says President and CEO Per A. Sørlie.

Note: Figures in parentheses are for the corresponding period in the preceding year