Borregaard

Earnings Release • Oct 18, 2019

Borregaard ASA: EBITA adj. increased to NOK 180 million (NOK 145 million) in the 3rd quarter

Borregaard ASA: EBITA adj. increased to NOK 180 million (NOK 145 million) in the 3rd quarter

Borregaard's operating revenues were NOK 1,239 million (NOK 1,150 million)² in

the 3(rd) quarter of 2019. EBITA adj.² increased to NOK 180 million (NOK 145

million). All business areas improved their result compared with the

corresponding quarter in 2018.

Performance Chemicals had lower distribution costs and a favourable product mix,

but a lower sales volume. An improved product mix and high production volume had

a positive impact on Speciality Cellulose. Other Businesses improved as a result

of higher sales prices in Ingredients. The total net currency impact was

positive.

Profit before tax was NOK 156 million (NOK 150 million). Earnings per share were

NOK 1.31 (NOK 1.27).

- We are pleased with the overall result in the quarter and the fact that all

business areas improved compared with last year, 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 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.