Borregaard

Earnings Release • Jul 17, 2024

Borregaard ASA: EBITDA1 of NOK 510 million in the 2nd quarter

Borregaard ASA: EBITDA1 of NOK 510 million in the 2nd quarter

Borregaard's operating revenues were NOK 1,949 million (NOK 1,963 million)(2) in

the 2(nd) quarter of 2024. EBITDA(1) was NOK 510 million (NOK 537 million). The

result in BioSolutions increased while the result in BioMaterials was lower

compared with the 2(nd) quarter of 2023. Fine Chemicals delivered a strong

result slightly below the same quarter last year.

Improved product mix and reduced energy costs were the main reasons for a strong

result in BioSolutions. In BioMaterials, the result was affected by lower sales

prices, higher wood costs and an increase in other operating expenses, mainly

due to cost inflation. Fine Chemicals had a solid result in the quarter. High

deliveries and stable prices for bioethanol and a favourable product mix for

fine chemical intermediates contributed positively to the result. The net

currency effects were negative for the Group.

Profit before tax was NOK 322 million (NOK 379 million). Earnings per share were

NOK 2.45 (NOK 2.84).

- We are pleased with the strong performance in BioSolutions and a solid result

for the Group, says President and CEO Per A. Sørlie.

Contacts:

Director Investor Relations, Knut-Harald Bakke, +47 905 79 164

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

1. Operating profit before depreciation, amortisation and other income and

expenses

2. Figures in parentheses are for the corresponding period in the preceding year

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and is subject to the disclosure requirements pursuant

to Section 5 - 12 of the Norwegian Securities Trading Act.

This stock exchange announcement was published by Lotte Kvinlaug, Investor

Relations Officer at Borregaard ASA, on 17 July 2024 at 07:00 CEST.