Borgestad ASA — Interim / Quarterly Report 2024

Feb 28, 2025

Borgestad ASA – Interim financial report for fourth quarter 2024

Borgestad ASA – Interim financial report for fourth quarter 2024

Highlights

2024 was a transformational year for Borgestad, marked by continued positive operational development across the two business segments.

Borgestad Group reports a full year 2024 profit before tax of MNOK 82.3, up from MNOK -37.3 in 2023.

Höganäs Borgestad Group achieved an EBIT margin of 2.0 percent in Q4’24, up from 1.4 percent in Q4’23 – a solid performance given the seasonal slowdown in Q4.

Agora Bytom continued its positive momentum, posting an EBITDA of MNOK 10.8 in Q4’24, an improvement from MNOK 8.9 in Q4’23.

In light of the strong results, the Board of Directors will propose to the Annual General Meeting an ordinary dividend of NOK 0.80 per share for 2024. Conditional of approval by the Annual General Meeting dividend will be distributed as repayment of paid-in capital.

Borgestad ASA's report for the fourth quarter of 2024 is attached hereto.

The contact person is Pål Feen Larsen, CEO Borgestad ASA, +47 488 45 333

or

Bendik Persch Andersen, Head of M&A, Corporate Development and Investor

Relations in Borgestad ASA, +47 98 83 67 27

- -

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

About Borgestad| www.borgestad.no

Borgestad ASA (OSE:BOR) is an investment company focused on real estate and industry. The key investments include Agora Bytom shopping center and the leading refractory manufacturer Höganäs Borgestad.

About Höganäs Borgestad | www.hoganasborgestad.com

Höganäs Borgestad develops, manufactures and delivers refractory products, installations and turnkey solutions that enhance the productivity and competitiveness of industrial customers. The aim is to contribute to the customers' profitability by providing high-value refractory solutions to their challenges. Today, the company is a leading supplier in the refractory market of the Nordic countries and has a global presence in a number of selected application areas.