Borregaard informed that the company’s operating revenues reached NOK 1,136 million (around USD 132 million) in 1Q2017. At the same time EBITA adjusted increased to NOK 200 million (from NOK 171 million) generating 17.6% margin.
Per A. Sørlie, Borregaard’s President and CEO, commented:
“We are pleased with the Group profit improvement and the increased sales of speciality products, both in Performance Chemicals and Speciality Cellulose.”
In 4Q2016 Borregaard decreased EBITA adjusted margin to 14.4%.
Earlier Borregaard announced an investment program to upgrade and specialise the production facilities for lignin products at the Sarpsborg site in Norway.
The company operates the world’s most advanced biorefinery. By using natural, sustainable raw materials, Borregaard produces advanced and environmentally friendly biochemicals, biomaterials and bioethanol that replace oil-based products. It has 1050 employees in 16 countries and had revenues in 2016 of approximately USD 535 million. The lignin business constitutes close to 50% of the Group’s turnover with plants in 7 countries.