Highlights
o	Cashflow from operations improved by MNOK 210 in 2023, from negative MNOK 52
in 2022 to positive MNOK 158 in 2023. Significant improved capital efficiency in
Höganäs Borgestad during 2023, NWC reduction of MNOK 28,3.
o	New equity, after transaction costs, of MNOK 296.7.
o	Gross interest-bearing debt reduced from MNOK 780 at 31.12.22 to MNOK 458 at
31.12.23. After closing of sale leaseback transaction in Bjuv (expected in 2024)
net interest-bearing debt estimated at MNOK 152
o	Agora Bytom refinanced with new maturity date 31.12.28

"The fourth quarter of 2023 was a transformatory period for Borgestad, with a
continued positive operational development for our two businesses, in addition
to the significant financial restructuring and the positive outcome (payment) of
the arbitration process in Vienna. These developments position Borgestad as a
financially strong investment company, and the ongoing strategy process will
outline the priorities for growth and value creation to leverage on the
opportunities" says Pål Feen Larsen, Chief Executive Officer of Borgestad.

Borgestad ASA's report for the fourth quarter of 2023 is attached hereto. 
The contact person is Pål Feen Larsen, CEO Borgestad ASA, +47 488 45 333
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This information is subject to disclosure requirements pursuant to the
Securities Trading Act §5-12.


About Borgestad| www.borgestad.no 
Borgestad ASA (OSE:BOR) is an investment company focused on real estate and
industry. The key investments include Agora Bytom shopping center and the
leading refractory manufacturer Höganäs Borgestad.

About Höganäs Borgestad | www.hoganasborgestad.com
Höganäs Borgestad develops, manufactures and delivers refractory products,
installations and turnkey solutions that enhance the productivity and
competitiveness of industrial customers. The aim is to contribute to the
customers' profitability by providing high-value refractory solutions to their
challenges. Today, the company is a leading supplier in the refractory market of
the Nordic countries and has a global presence in a number of selected
application areas.