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2016-02-03

Borregaard: Strong result in Performance Chemicals and favourable currency effects

Borregaard's 4thquarter results

(03.02.2016) Borregaard's operating revenues increased to NOK 1,034 million
(NOK 951 million)¹ in the 4thquarter of 2015. EBITA² was NOK 101 million (NOK
92 million).

There was an improvement in Performance Chemicals and Other Businesses, while
Specialty Cellulose was somewhat weaker. Currency developments contributed
positively across all business areas, but the impact was partly delayed by
hedging.

EBITA in Performance Chemicals increased as a lower sales volume was more than
offset by a positive currency impact. Weaker demand and increased price
competition in the construction sector led to lower sales in some regions.
The new Flambeau lignin volume has been included in the reported figures from
23 October 2015. The decline in Specialty Cellulose was primarily due to
lower sales prices and a weaker product mix. EBITA in Other Businesses
improved due to progress in the Ingredients and Fine Chemicals segments,
partly offset by increased Exilva costs.

Profit before tax was NOK 130 million (NOK 59 million) in the 4thquarter.
Earnings per share were NOK 1.08 (NOK 0.68).

Full year 2015

Operating revenues in 2015 increased to NOK 4,164 million (NOK 3,939 million).
EBITA was NOK 497 million (NOK 486 million). Profit before tax was NOK 506
million (NOK 430 million). Earnings per share were NOK 3.86 (NOK 3.34).

-We are pleased with the strong result in Performance Chemicals and the
progress made on our strategic expansion projects
, 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.

4th quarter 2015 report
http://hugin.info/155892/R/1983234/726763.pdf
4th quarter 2015 presentation
http://hugin.info/155892/R/1983234/726764.pdf
Quarterly and accounting figures 4th quarter 2015
http://hugin.info/155892/R/1983234/726766.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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