Borregaard’s operating revenues were NOK 1,744 million (NOK 1,605 million)² in the 4^th quarter of 2024. EBITDA¹ reached NOK 398 million (NOK 327 million). The result in BioSolutions increased compared with the 4^th quarter of 2023. BioMaterials remained at the same level, while there was a decrease in Fine Chemicals.

Increased sales were the main reason for the strong result in BioSolutions. For BioMaterials, higher sales volume and an improved product mix of speciality cellulose were offset by increased wood costs. Lower deliveries were the main reason for the weaker result in Fine Chemicals. The net currency effects were positive.

Other income and expenses¹ were NOK -30 million in the 4^th quarter of 2024. This accrual was for remediation of contaminated soil at the Sarpsborg site.

Profit before tax was NOK 170 million (NOK 135 million). Earnings per share were NOK 1.30 (NOK 1.20).

Full year 2024
Operating revenues increased to NOK 7,617 million (NOK 7,132 million). EBITDA¹ reached an all-time high of NOK 1,874 million (NOK 1,781 million). Profit before tax was NOK 1,079 million (NOK 1,124 million). Earnings per share were NOK 8.25 (NOK 8.73).

- We are pleased to report an all-time high result for 2024. Our specialisation strategy has proven resilient amid challenging macroeconomic and geopolitical conditions, says President and CEO Per A. Sørlie.

Contacts:
Director Investor Relations, Knut-Harald Bakke, +47 905 79 164
Director Communications, Tone Horvei Bredal, +47 924 67 711

1. Operating profit before depreciation, amortisation and other income and expenses
2. Figures in parentheses are for the corresponding period in the preceding year

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5 – 12 of the Norwegian Securities Trading Act.

This stock exchange announcement was published by Lotte Kvinlaug, Investor Relations Officer at Borregaard ASA, on 29 January 2025 at 07:00 CET.