Borregaard: ALL-TIME HIGH RESULT
July 18 2017 - 1:00AM
Borregaard's operating revenues reached NOK 1,256
million (NOK 1,167 million)¹ in the 2nd quarter of
2017. EBITA adj.² increased to NOK 243 million (NOK 200 million),
an all-time high quarterly result. Compared with the 2nd quarter of
2016, all business areas improved their EBITA adj. Final insurance
settlement related to the seasoning silos had a positive impact on
the result. Currency impact, including hedging effects, was
slightly positive. Energy, raw material and chemicals costs
increased compared with the corresponding quarter of 2016.
Depreciation increased mainly as a result of expansion
investments.
Performance Chemicals achieved an all-time high
quarterly EBITA adj. as positive reallocation effects and
favourable mix within Specialities offset the effect of cost
increases and a 3% reduction in sales volume. The improved result
in Speciality Cellulose was due to increased sales prices, high
sales volume and improved product mix. The increased EBITA adj. in
Other Businesses was primarily due to a strong quarter for Fine
Chemicals.
Profit before tax increased to NOK 241 million
(NOK 207 million). Earnings per share were NOK 1.81 (NOK 1.54).
- We are pleased with the Group's strong
performance and the favourable product mix development in both
Performance Chemicals and Speciality Cellulose, 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.
Quarterly and accounting figures
2nd quarter 2017
2nd quarter 2017 presentation
2nd quarter 2017 report
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Borregaard via Globenewswire
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