Borregaard's operating revenues reached NOK1219 million in the 1Q18.
EBITA adj.2 was NOK94 million. Other businesses’ result improved significantly compared with the corresponding quarter in 2017, whereas performance chemicals and speciality cellulose had a decline.
Performance chemicals had a 3% increase in total sales volume driven by diversification and growth for industrial and specialities. EBITA adj.2 decreased, due to higher fixed costs and depreciation from the Florida ramp-up, increased lignin distribution costs and continued strong price competition in the concrete admixture market. Higher wood costs and weaker product mix affected speciality cellulose negatively. Higher sales prices and sales volume in ingredients were the main reasons for the improved result in other businesses. The net currency impact was positive.
Profit before tax ended at NOK 84 million. Earnings per share were NOK0.80.
Full year 2018
Operating revenues in 2018 increased to NOK4785 million. EBITA adj.2 was NOK580 million. Profit before tax was NOK562 million . Earnings per share were NOK4.76.
"In 2018, we have strengthened the foundation for future growth by completing several strategic investment projects. The financial result for the year was affected by increased costs related to raw materials and the new plant in Florida. On the market side, we a strong improvement in Ingredients and increased diversification of our lignin business", says President and CEO Per A. Sørlie.
Read the article online at: https://www.worldfertilizer.com/special-reports/31012019/borregaard-releases-4q18-results/