Borregaard: EBITA adj. NOK 157 million (NOK 177 million) in the 1st quarter
May 03 2019 - 1:00AM
Borregaard's operating revenues increased to NOK
1,250 million (NOK 1,217 million)¹ in the 1st
quarter of 2019. EBITA adj.² was NOK 157 million (NOK 177
million). Other Businesses' result improved significantly compared
with the corresponding quarter in 2018, whereas Performance
Chemicals and Speciality Cellulose had a decline. The
implementation of IFRS16 Leases had a marginal positive impact of
NOK 1 million on EBITA adj.².
Performance Chemicals had a 7% increase in total
sales volume, primarily as a result of the Florida plant ramp-up.
EBITA adj.² decreased, mainly due to higher fixed costs and
depreciation from the Florida start-up. Higher wood costs and low
deliveries affected Speciality Cellulose negatively. Other
Businesses improved as a result of higher sales prices and a
favourable product mix in Ingredients as well as high sales
revenues in Fine Chemicals. The net currency impact was
positive.
Profit before tax was NOK 141 million (NOK 169
million). Earnings per share were NOK 1.26 (NOK 1.37).
- Ramp-up of the new production
capacity in Florida continued according to plan, lifting total
lignin sales volume by 7% compared with the 1st
quarter of last year. The diversification efforts in Performance
Chemicals continued with strong growth in Industrial. In Other
Businesses, both Ingredients and Fine Chemicals had strong
performance in the quarter, 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.
Quarterly and accounting figures
1st quarter 2019
1st quarter 2019 presentation
1st quarter 2019 report
This
announcement is distributed by West Corporation on behalf of West
Corporation 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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