Q2 2026 Borregaard ASA Earnings Call Transcript
Key Points
- Borregaard ASA (BRRDF) reported a solid EBITDA of NOK515 million, closely aligning with the strong performance of the previous year.
- BioSolutions achieved a 4% increase in sales volume, driven by high deliveries to construction and industrial applications.
- BioMaterials experienced a 9% increase in sales volume, supported by record-high production of specialty cellulose.
- Fine Chemicals delivered strong results with higher deliveries and a favorable product mix, contributing to an 18% increase in operating revenues.
- The company maintained a robust cash flow from operating activities, amounting to NOK695 million in the second quarter.
- Borregaard ASA (BRRDF) recognized an impairment of NOK337 million on its investment in Alginor, reducing its ownership from 42% to 10%.
- BioSolutions faced a less favorable product mix and higher energy-related costs, resulting in a lower EBITDA compared to the previous year.
- The company experienced negative impacts from the Middle East conflict, affecting energy, logistics, and chemical costs.
- The EBITDA margin for BioSolutions decreased by nearly 3 percentage points compared to the same quarter last year.
- Borregaard ASA (BRRDF) accrued NOK30 million for ground stabilization measures at the Sarpsborg site, impacting earnings per share negatively.
Good morning, everyone, and welcome to Borregaard's second-quarter 2026 presentation. My name is Tom Erik Foss-Jacobsen. I'm the CEO of Borregaard, and I'll be joined today by our CFO, Per Bjarne Lyngstad. Together, we will take you through this agenda.
I will start with the key highlights for the quarter and then give an update on the market situation across our business segments. I will then summarize the outlook before handing over to Per Bjarne. He will walk you through the financial performance then in more detail. Before we begin, just a quick reminder to those of you watching the webcast that you are welcome to submit questions at any time during the presentation, and we'll address them at the end.
Let's begin with the highlights for the second quarter. EBITDA came in at NOK515 million compared with NOK522 million in the same quarter last year. This is a solid result broadly in line with a strong second quarter last year and also supported by good operational performance in the quarter.
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