Borregaard - Earnings Release 2014

Borregaard: Borregaard's 1Q 2014 results

Significant progress for Performance Chemicals

(29.04.2014) Borregaard's operating revenues totalled NOK 992 million (NOK 950

million(1)) in the 1(st) quarter of 2014. EBITA(2) amounted to NOK 99 million,

compared with NOK 109 million in the corresponding quarter of 2013.

Significant progress for Performance Chemicals was more than off-set by an EBITA

decline in Specialty Cellulose. Reduced wood cost and a weaker NOK contributed

positively.

EBITA in Performance Chemicals increased due to improved product mix, higher

invoiced prices and favourable currency impact. The decline in Specialty

Cellulose is primarily a result of lower prices and a weaker product mix. In

Other Businesses, higher corporate costs were off-set by an improved result in

the Fine Chemicals business.

Group profit before tax amounted to NOK 92 million (NOK 95 million) in the

1(st) quarter of 2014. Earnings per share was NOK 0.65 (NOK 0.65) in the 1(st)

quarter.

- We are particularly satisfied with the all-time-high quarterly result for our

Performance Chemicals business. The other business areas were in line with our

expectations, says President and CEO at Borregaard, Per A. Sørlie.

.....................................................

1. Figures in parentheses are for the corresponding period last year.

2. Operating profit before amortisation and other income and expenses.

Contacts:

Investor Relations Director Jørn Syvertsen, +47 958 36 335

SVP Organisation and Public Affairs Dag Arthur Aasbø, +47 918 34 108

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1780652]

AI assistant