Borregaard - Earnings Release 2015

Borregaard: Favourable currency rates contributed to a result in line with last year

Borregaard's 3(rd) quarter 2015 results

(21.10.2015) Borregaard's operating revenues totalled NOK 1,069 million (NOK

1,003 million)(1) in the 3(rd) quarter of 2015. EBITA(2) was NOK 160 million

(NOK 165 million).

There was a slight EBITA decline in Performance Chemicals and Specialty

Cellulose while Other Businesses improved. Currency developments, including

negative hedging effects, contributed positively by approximately NOK 70

million.

EBITA in Performance Chemicals declined slightly from the 3(rd) quarter of 2014

as lower sales volume and weaker product mix were not fully compensated by

higher prices and positive currency effects. For Specialty Cellulose, the impact

of lower sales prices, a weaker product mix and lower contribution from

bioethanol was largely offset by beneficial currency effects. EBITA in Other

Businesses improved due to currency impact and increased sales in Fine

Chemicals.

Profit before tax was NOK 151 million (NOK 153 million) in the 3(rd) quarter.

Earnings per share were NOK 1.12 (NOK 1.10).

- Favourable currency effects contributed to a 3(rd) quarter result in line with

last year, in spite of more challenging market conditions, says President and

CEO Per A. Sørlie.

Contacts

Director Investor Relations, Jørn Syvertsen, +47 958 36 335

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

1. Figures in parentheses are for the corresponding period in the preceding

year.

2. Operating profit before 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.

[HUG#1960260]

AI assistant