Borregaard - Earnings Release 2025

Borregaard ASA: EBITDA1 of NOK 522 million in the 2nd quarter

Borregaard's operating revenues increased to NOK 2,045 million (NOK 1,949

million)(2) in the 2(nd) quarter of 2025. EBITDA(1) reached NOK 522 million (NOK

510 million). The result in BioSolutions and BioMaterials increased while Fine

Chemicals had a lower result.

Continued growth in sales to agriculture was the main reason for the improved

result in BioSolutions. In BioMaterials, the result increased due to higher

sales prices, improved product mix and increased sales volume, partly offset by

higher wood costs. Lower sales prices for bioethanol were the main reason for

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

all areas.

Profit before tax was NOK 326 million (NOK 322 million). Earnings per share were

NOK 2.56 (NOK 2.45).

We are pleased to report improved results for both BioSolutions and

BioMaterials, driven by continued strong sales to agriculture and price

increases for speciality cellulose, 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 16 July 2025 at 07:00 CEST.

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