Borregaard: EBITA adj. NOK 145 million (NOK 197 million) in 3rd quarter
October 23 2018 - 12:00AM
Borregaard's operating revenues increased to NOK
1,150 million (NOK 1,089 million)¹ in the 3rd
quarter of 2018. EBITA adj.² was NOK 145 million (NOK 197
million). Other Businesses improved its result compared with the
corresponding quarter last year, whereas Performance Chemicals and
Speciality Cellulose had a decline. EBITA adj.² was negatively
affected by the Florida start-up and higher lignin distribution
costs. In addition, the result was impacted by higher wood and
caustic soda prices. The net currency impact was positive.
In Performance Chemicals, total sales volume
increased by 9% with growth above 10% for both Industrial³ and
Specialities. EBITA adj.² declined, mainly due to increased costs
and strong price competition in construction markets. For
Speciality Cellulose, higher wood and caustic soda prices and lower
sales of acetate cellulose were the main reasons for the lower
EBITA adj.¹. Other Businesses' result improved due to higher sales
prices in Ingredients.
Profit before tax ended at NOK 150 million (NOK
190 million), and was positively affected by a NOK 20 million gain
on sale of a minority stake in a chemical company in USA. Earnings
per share were NOK 1.27 (NOK 1.47).
- We are pleased to see
that the on-going efforts to diversify the lignin portfolio
resulted in volume growth for specialities and industrial products.
However, the result in Performance Chemicals was negatively
impacted by start-up costs in Florida and the effect of
interruptions in raw material supply, 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
3. Market segment renamed to Industrial, formerly Miscellaneous
This information is subject to the disclosure
requirements pursuant to Section 5-12 of the Norwegian Securities
Trading Act.
3rd quarter 2018 presentation
Quarterly and accounting figures 3rd quarter 2018
3rd quarter 2018 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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