Borregaard informed that the company’s operating revenues reached NOK 1,256 million (around USD 155 million) in 2Q2017. At the same time EBITA adjusted increased to NOK 243 million (from NOK 200 million) generating 19.4% margin.
Per A. Sørlie, Borregaard’s President and CEO, commented:
“We are pleased with the Group’s strong performance and the favourable product mix development in both Performance Chemicals and Speciality Cellulose.”
In 1Q2017 Borregaard increased EBITA adjusted margin to 17.6% in 1Q2017.
Earlier Borregaard received a grant from Innovation Norway’s Bioeconomy Scheme.
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.