Report
Borregaard ASA
Hjalmar Wessels vei 6
Phone: +47 69118000p:+47 69118000 SARPSBORG, 1721  Norway Ticker: BRGBRG


Borregaard ASA: EBITDA of NOK 266 million in the 3rd quarter


Borregaard’s operating revenues increased to NOK 1,260 million (NOK 1,239 million)¹ in the 3rd quarter of 2020. EBITDA² was NOK 266 million (NOK 286 million). Fine Chemicals had an improved result, whereas BioSolutions and BioMaterials had weaker results compared with the corresponding quarter in 2019. 

During the 3rd quarter, Covid-19 affected sales and results. Negative effects on demand for certain biopolymers specialities and less specialised cellulose grades are mainly related to the coronavirus situation.

For BioSolutions, higher costs related to transatlantic shipments and low demand in the US market affected the result negatively. In BioMaterials, the effect of a reduced sales volume was offset by lower wood and energy costs. For Fine Chemicals, higher sales volume and prices for bioethanol were the main reasons for the improved result. The total net currency impact on EBITDA was slightly negative compared with the same quarter in 2019.

Profit before tax was NOK 133 million (NOK 156 million). Earnings per share were NOK 1.12 (NOK 1.31).

Our third quarter results were influenced by a Covid-19 related drop in demand, particularly for some of our biopolymers specialities in the US market. We are pleased to report progress in Fine Chemicals, says President and CEO Per A. Sørlie.

Contacts:
Director Investor Relations, Jørn Syvertsen, +47 958 36 335
Communication Manager, Tone Horvei Bredal, +47 924 67 711

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

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

 

Attachments


Related Businesses
- - Customer

Copyright © 2024 by CreditRiskMonitor.com (Ticker: CRMZ®). All rights reserved.  You are not permitted to use this report or the information contained herein for any purpose not expressly permitted by CreditRiskMonitor.com, Inc. Except as expressly permitted by CreditRiskMonitor.com, Inc., you are not permitted, in whole or in part, to copy, alter, correct, adapt, translate, enhance, lease, sell, sublicense, assign, distribute, publish, otherwise make available to any third party, or prepare derivative works or improvements of this report or any of the information contained therein. You are not permitted to reverse engineer, disassemble, decompile, decode, or adapt the software, algorithms or other processes used to prepare this report, or otherwise attempt to derive or gain access to the source code of same. You agree not to remove, alter, obscure, combine or otherwise change any disclaimers, trademarks, copyrights, other intellectual property rights, proprietary rights, or other symbols, notices, marks, or serial numbers on or relating to any copy of the report or on marketing or other materials that CreditRiskMonitor.com, Inc. may provide to you. You will not use this report in any manner or for any purpose that infringes, misappropriates, or otherwise violates any right of any party, or that violates any applicable law.  
The FRISK® scores, agency ratings, credit limit recommendations and other scores, analysis and commentary are opinions of CreditRiskMonitor.com, Inc. and/or its suppliers, not statements of fact, and should be one of several factors in making credit decisions.  Any reliance you place on the information in this report is strictly at your own risk. Except as expressly provided by CreditRiskMonitor.com, Inc., no warranties or representations of any type, including without limitation of results to be obtained, merchantability or fitness for a particular purpose, are made concerning any part of CreditRiskMonitor.com, Inc.’s service, including without limitation the FRISK® scores.  The information published above has been obtained from sources CreditRiskMonitor considers to be reliable.  CreditRiskMonitor.com, Inc. and its third-party suppliers do not guarantee or validate the accuracy and completeness of the information provided in this report, the underlying information input to create the FRISK® scores, and specifically do not assume responsibility for not reporting any information omitted or withheld.  By using this website, you accept the Terms of Use Agreement
Contact Us: 845.230.3000
Fundamental financial data concerning public companies may be provided by Refinitiv (click for restrictions)
Thursday, March 28, 2024