Borregaard

Earnings Release • Jan 29, 2025

Borregaard ASA: EBITDA1 of NOK 398 million in the 4th quarter

Borregaard ASA: EBITDA1 of NOK 398 million in the 4th quarter

Borregaard's operating revenues were NOK 1,744 million (NOK 1,605 million)(2) in

the 4(th) quarter of 2024. EBITDA(1) reached NOK 398 million (NOK 327 million).

The result in BioSolutions increased compared with the 4(th) quarter of 2023.

BioMaterials remained at the same level, while there was a decrease in Fine

Chemicals.

Increased sales were the main reason for the strong result in BioSolutions. For

BioMaterials, higher sales volume and an improved product mix of speciality

cellulose were offset by increased wood costs. Lower deliveries were the main

reason for the weaker result in Fine Chemicals. The net currency effects were

positive.

Other income and expenses(1) were NOK -30 million in the 4(th) quarter of 2024.

This accrual was for remediation of contaminated soil at the Sarpsborg site.

Profit before tax was NOK 170 million (NOK 135 million). Earnings per share were

NOK 1.30 (NOK 1.20).

Full year 2024

Operating revenues increased to NOK 7,617 million (NOK 7,132 million). EBITDA(1)

reached an all-time high of NOK 1,874 million (NOK 1,781 million). Profit before

tax was NOK 1,079 million (NOK 1,124 million). Earnings per share were NOK 8.25

(NOK 8.73).

- We are pleased to report an all-time high result for 2024. Our specialisation

strategy has proven resilient amid challenging macroeconomic and geopolitical

conditions, says President and CEO Per A. Sørlie.

Contacts:

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

Director Communications, Tone Horvei Bredal, +47 924 67 711

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 29 January 2025 at 07:00 CET.