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2015-04-28

Borregaard: Continued progress in Performance Chemicals

Borregaard's 1stquarter 2015 results

(28.04.2015) Borregaard's operating revenues totalled NOK 1,007 million (NOK
992 million)¹ in the 1stquarter of 2015. EBITA² was NOK 105 million (NOK 99
million).

Performance Chemicals and Other Businesses improved their EBITA, while there
was a decline in Specialty Cellulose. Currency developments contributed
positively in all business areas despite negative impact from hedging.
Production at the Sarpsborg site was in line with the corresponding quarter
last year. In total, raw material, energy and other costs were stable.

EBITA in Performance Chemicals increased as a favourable product mix, higher
sales prices and positive currency effects more than compensated for a 9%
reduction in total sales volume. The decline in Specialty Cellulose was
mainly due to lower sales prices and a weaker product mix. EBITA in Other
Businesses improved, primarily due to progress in the Ingredients business
and lower net corporate costs.

Profit before tax was NOK 100 million (NOK 92 million) in the 1stquarter.
Earnings per share were NOK 0.74 (NOK 0.65).

- We are pleased with the continued progress in Performance Chemicals and the
underlying result for the Group. The full impact from a weaker Norwegian
krone is delayed due to currency hedging,
says President and CEO Per A. Sørlie.

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

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

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

1st quarter 2015 presentation
http://hugin.info/155892/R/1915534/684728.pdf
Quarterly and accounting figures 1st quarter 2015
http://hugin.info/155892/R/1915534/684730.pdf
1st quarter 2015 report
http://hugin.info/155892/R/1915534/684729.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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