Q1 2025 Borregaard ASA Earnings Call Transcript
Key Points
- Borregaard ASA (STU:BO4) reported an all-time high EBITDA of NOK511 million for the first quarter, driven by strong sales in the BioSolutions segment.
- The company experienced a significant increase in operating revenues, surpassing NOK2 billion for the first time in a single quarter.
- Strong sales to agriculture contributed to an 8% increase in operating revenues for BioSolutions compared to the first quarter of 2024.
- The EBITDA margin improved to 25.1%, which is 2.7 percentage points higher than the same quarter in 2024.
- Borregaard ASA (STU:BO4) benefited from positive net currency effects, contributing NOK45 million to the quarter's results.
- BioMaterials segment faced challenges with lower sales volume and increased wood costs, offsetting higher sales prices.
- Fine Chemicals segment experienced a decrease in operating revenues due to lower sales prices for bioethanol.
- The company is facing potential impacts from tariffs and trade wars, introducing uncertainty in the BioMaterials segment.
- Wood costs remain high, with no expected change in the second quarter, impacting overall cost management.
- Fine Chemicals segment's EBITDA margin decreased by 7.5 percentage points compared to the same quarter last year.
Good morning, and welcome to this first quarter 2025 presentation for Borregaard. My name is Per Sorlie, I'm the President and CEO of the company, and I'll be joined this morning by Per Bjarne Lyngstad, our CFO, and we'll take you through this agenda. I talk about the highlights in the first quarter, the development -- market development in the business segments, the tariff situation and the Alginor capital raise that was completed after the end of the quarter and then the outlook for the remainder of the year.
And Per Bjarne will come back and talk about the financial performance. And I'd just like to take this opportunity to remind you that if you are watching this webcast live, you can put through questions throughout the presentation.
And we will revert at the end of the presentation and talk about these different questions. Then first, I'll start with the highlights for the first quarter. We ended up delivered an EBITDA of NOK511 million compared to NOK442 million in the previous same quarter last year. This was
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