Continued favourable markets for Borregaard
Borregaard's 4th quarter 2012:
(6 January 2013) Borregaard's operating revenues
totalled NOK 925 million in the 4th quarter, compared
to NOK 941 million in the corresponding period of
2011. EBITA* amounted to NOK 89 million, compared to
NOK 71 million in the 4th quarter of 2011. For the
full year 2012 EBITA amounted to NOK 542 million, up
NOK 6 million from 2011.
The stronger result in the 4th quarter, compared to
2011, is mainly due to a notable result improvement
for Performance Chemicals. Market conditions
continued in general to be favourable, although some
soft spots still exist in Specialty Cellulose end
markets, primarily construction and coatings. Reduced
wood costs contributed positively, whilst a stronger
Norwegian krone had a negative impact.
EBITA in Performance Chemicals improved significantly
following volume increase, improved product mix,
higher sales prices and reduced operating expenses.
In Specialty Cellulose, the result declined due to a
temporary weakening of the product mix. Within Other
Businesses, progress was recorded in Ingredients and
Fine Chemicals. Net financial items amounted to NOK -
9 million (NOK -23 million)** in the 4th quarter as
the level of net interest-bearing debt declined
significantly compared to 2011.
Full year 2012
For the full year, operating revenues were NOK 3,941
million (NOK 3,854 million) with an EBITA of NOK 542
million (NOK 536 million). Group profit before tax
amounted to NOK 415 million (NOK 455 million) with a
tax charge of NOK 140 million (NOK 135 million).
"Borregaard has delivered two strong years in a row.
We are satisfied with the overall result level, the
improvement within Performance Chemicals and the fact
that we have been able to maintain prices for highly
specialised cellulose", says CEO Per A. Sørlie.
Investor Relations Director Jørn Syvertsen, +47 958
Communication Manager Tone Horvei Bredal, +47 924 67
* Operating profit before amortization and other
income and expenses
** Figures in parentheses are for the corresponding
period in the previous year