Continued favourable markets for Borregaard

2/6/2013 1:00 AM EST

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.

Contacts:
Investor Relations Director Jørn Syvertsen, +47 958 
36 335
Communication Manager Tone Horvei Bredal, +47 924 67 
711

* Operating profit before amortization and other 
income and expenses
** Figures in parentheses are for the corresponding 
period in the previous year