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2014-04-29

Borregaard: Borregaard's 1Q 2014 results

Significant progress for Performance Chemicals

(29.04.2014) Borregaard's operating revenues totalled NOK 992 million (NOK 950
million1) in the 1stquarter of 2014. EBITA2amounted to NOK 99 million,
compared with NOK 109 million in the corresponding quarter of 2013.

Significant progress for Performance Chemicals was more than off-set by an
EBITA decline in Specialty Cellulose. Reduced wood cost and a weaker NOK
contributed positively.

EBITA in Performance Chemicals increased due to improved product mix, higher
invoiced prices and favourable currency impact. The decline in Specialty
Cellulose is primarily a result of lower prices and a weaker product mix. In
Other Businesses, higher corporate costs were off-set by an improved result
in the Fine Chemicals business.

Group profit before tax amounted to NOK 92 million (NOK 95 million) in the
1stquarter of 2014. Earnings per share was NOK 0.65 (NOK 0.65) in the
1stquarter.

- We are particularly satisfied with the all-time-high quarterly result for
our Performance Chemicals business. The other business areas were in line
with our expectations, says President and CEO at Borregaard, Per A. Sørlie.

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

Contacts:
Investor Relations Director Jørn Syvertsen, +47 958 36 335
SVP Organisation and Public Affairs Dag Arthur Aasbø, +47 918 34 108

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Quarterly figures 1st quarter 2014
http://hugin.info/155892/R/1780652/608879.pdf
1st quarter 2014 presentation
http://hugin.info/155892/R/1780652/608876.pdf
1st quarter 2014 report
http://hugin.info/155892/R/1780652/608878.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Borregaard via Globenewswire

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