BORREGAARD ASA Income Statement Borregaard Group Q1 2024
1.1-31.3 | 1.1-31.12 | |||||
Amounts in NOK million | 2024 | 2023 | 2023 | |||
Operating revenues | 1 975 | 1 850 | 7 132 | |||
Operating expenses | -1 533 | -1 415 | -5 351 | |||
EBITDA | 442 | 435 | 1 781 | |||
Depreciation property, plant and equipment | -133 | -114 | -485 | |||
Amortisation intangible assets | -1 | -1 | -5 | |||
Operating profit | 308 | 320 | 1 291 | |||
Financial items, net | -47 | -28 | -167 | |||
Profit before taxes | 261 | 292 | 1 124 | |||
Income tax expence | -61 | -71 | -268 | |||
Profit for the period | 200 | 221 | 856 | |||
Profit attributable to non-controlling interests | 0 | -10 | -14 | |||
Profit attributable to owners of the parent | 200 | 231 | 870 | |||
Earnings per share (NOK) | 2,01 | 2,32 | 8,73 | |||
EBITDA margin | 22,4 % | 23,5 % | 25,0 % | |||
Interim condensed statement of financial position Borregaard Group
31.3. | 31.12. | |||
Amounts in NOK million | 2024 | 2023 | ||
Assets: | ||||
Intangible assets | 82 | 84 | ||
Property, plant and equipment | 4 728 | 4 661 | ||
Right-of-use assets | 524 | 527 | ||
Other assets | 362 | 437 | ||
Investments in joint venture/associate companies | 286 | 289 | ||
Non-current assets | 5 982 | 5 998 | ||
Inventories | 1 348 | 1 447 | ||
Receivables | 1 753 | 1 201 | ||
Cash and cash deposits | 200 | 469 | ||
Current assets | 3 301 | 3 117 | ||
Total assets | 9 283 | 9 115 | ||
Equity and debt: | ||||
Group equity | 4 835 | 4 855 | ||
Non-controlling interests | 42 | 39 | ||
Equity | 4 877 | 4 894 | ||
Provisions and other liabilities | 441 | 401 | ||
Interest-bearing liabilities | 2 043 | 2 016 | ||
Non-current liabilities | 2 484 | 2 417 | ||
Interest-bearing liabilities | 330 | 246 | ||
Other current liabilities | 1 592 | 1 558 | ||
Current liabilities | 1 922 | 1 804 | ||
Equity and liabilities | 9 283 | 9 115 | ||
Equity ratio (%): | 52,5 % | 53,7 % | ||
Interim condensed cash flow statement Borregaard Group Q1 2024
1.1-31.3 | 1.1-31.12 | ||||
Amounts in NOK million | 2024 | 2023 | 2023 | ||
Profit before taxes | 261 | 292 | 1 124 | ||
Amortisation, depreciation and impairment charges | 134 | 115 | 490 | ||
Change in net working capital, etc | -466 | -193 | 205 | ||
Dividend/share of profit from JV & associate companies | 3 | 6 | 9 | ||
Taxes paid | -115 | -109 | -265 | ||
Cash flow from operating activities | -183 | 111 | 1 563 | ||
Investments property, plant and equipment and intangible assets * | -115 | -107 | -667 | ||
Investment in associate companies & bio-basedstart-ups | 0 | 0 | -171 | ||
Other capital transactions | 3 | 2 | 9 | ||
Cash flow from Investing activities | -112 | -105 | -829 | ||
Dividends | 0 | 0 | -324 | ||
Proceeds from exercise of options/shares to employees | 35 | 41 | 49 | ||
Buy-back of treasury shares | -28 | -41 | -92 | ||
Gain/(loss) on hedges for net investments in subsidiaries | -50 | -58 | -38 | ||
Net paid to/from shareholders | -43 | -58 | -405 | ||
Proceeds from interest-bearing liabilities | 0 | 0 | 800 | ||
Repayment of interest-bearing liabilities | -67 | -14 | -843 | ||
Change in interest-bearing liabilities/other instruments | 36 | 41 | 33 | ||
Change in net interest-bearing liablities | -31 | 27 | -10 | ||
Cash flow from financing activities | -74 | -31 | -415 | ||
Change in cash and cash equivalents | -369 | -25 | 319 | ||
Cash and cash equivalents at beginning of period | 429 | 111 | 111 | ||
Change in cash and cash equivalents | -369 | -25 | 319 | ||
Currency effects cash and cash equivalents | 21 | 19 | -1 | ||
Cash and cash equivalents at the close of the period | 81 | 105 | 429 | ||
* Investment by category: | |||||
Replacement investments | 95 | 87 | 550 | ||
Expansion investments including investment in associate companies and bio-basedstart-ups | 20 | 20 | 288 | ||
Total investments including investment in associate companies and bio-basedstart-ups | 115 | 107 | 838 |
Quarterly segment information Borregaard Group
Operating revenues | |||||||||||||||
1.1-31.12 | 1.1-31.12 | 1.1-31.3 | 1.4-30.6 | 1.7-30.9 | 1.10-31.12 | 1.1-31.12 | 1.1-31.3 | 1.4-30.6 | 1.7-30.9 | 1.10-31.12 | 1.1-31.12 | 1.1-31.3 | |||
Amounts in NOK million | 2020 | 2021 | 2022 | 2022 | 2022 | 2022 | 2022 | 2023 | 2023 | 2023 | 2023 | 2023 | 2024 | ||
Borregaard | 5 328 | 5 805 | 1 615 | 1 744 | 1 752 | 1 770 | 6 881 | 1 850 | 1 963 | 1 714 | 1 605 | 7 132 | 1 975 | ||
BioSolutions | 3 082 | 3 469 | 948 | 1098 | 1007 | 997 | 4 050 | 995 | 1 087 | 956 | 906 | 3 944 | 1 088 | ||
BioMaterials | 1 732 | 1 878 | 532 | 540 | 558 | 620 | 2 250 | 684 | 661 | 568 | 526 | 2 439 | 704 | ||
Fine Chemicals | 543 | 491 | 143 | 119 | 200 | 170 | 632 | 180 | 227 | 199 | 180 | 786 | 192 | ||
Eliminations | - 29 | - 33 | - 8 | - 13 | - 13 | - 17 | - 51 | -9 | -12 | -9 | -7 | -37 | -9 | ||
EBITDA | |||||||||||||||
1.1-31.12 | 1.1-31.12 | 1.1-31.3 | 1.4-30.6 | 1.7-30.9 | 1.10-31.12 | 1.1-31.12 | 1.1-31.3 | 1.4-30.6 | 1.7-30.9 | 1.10-31.12 | 1.1-31.12 | 1.1-31.3 | |||
Amounts in NOK million | 2020 | 2021 | 2022 | 2022 | 2022 | 2022 | 2022 | 2023 | 2023 | 2023 | 2023 | 2023 | 2024 | ||
Borregaard | 1 132 | 1 372 | 400 | 445 | 434 | 364 | 1 643 | 435 | 537 | 482 | 327 | 1 781 | 442 | ||
BioSolutions | 632 | 942 | 261 | 305 | 261 | 159 | 986 | 224 | 284 | 235 | 172 | 915 | 264 | ||
BioMaterials | 318 | 284 | 97 | 91 | 101 | 138 | 427 | 127 | 143 | 161 | 103 | 534 | 111 | ||
Fine Chemicals | 182 | 146 | 42 | 49 | 72 | 67 | 230 | 84 | 110 | 86 | 52 | 332 | 67 | ||
Depreciations and write downs | |||||||||||||||
1.1-31.12 | 1.1-31.12 | 1.1-31.3 | 1.4-30.6 | 1.7-30.9 | 1.10-31.12 | 1.1-31.12 | 1.1-31.3 | 1.4-30.6 | 1.7-30.9 | 1.10-31.12 | 1.1-31.12 | 1.1-31.3 | |||
Amounts in NOK million | 2020 | 2021 | 2022 | 2022 | 2022 | 2022 | 2022 | 2023 | 2023 | 2023 | 2023 | 2023 | 2024 | ||
Borregaard | - 443 | - 416 | - 108 | - 110 | - 112 | - 114 | - 444 | -114 | -116 | -121 | -134 | -485 | -133 | ||
BioSolutions | - 206 | - 189 | - 50 | - 53 | - 54 | - 55 | - 212 | -56 | -56 | -60 | -71 | -243 | -69 | ||
BioMaterials | - 203 | - 193 | - 49 | - 48 | - 49 | - 49 | - 195 | -49 | -49 | -51 | -51 | -200 | -53 | ||
Fine Chemicals | - 34 | - 34 | - 9 | - 9 | - 9 | - 10 | - 37 | -9 | -11 | -10 | -12 | -42 | -11 | ||
Amortisation | |||||||||||||||
1.1-31.12 | 1.1-31.12 | 1.1-31.3 | 1.4-30.6 | 1.7-30.9 | 1.10-31.12 | 1.1-31.12 | 1.1-31.3 | 1.4-30.6 | 1.7-30.9 | 1.10-31.12 | 1.1-31.12 | 1.1-31.3 | |||
Amounts in NOK million | 2020 | 2021 | 2022 | 2022 | 2022 | 2022 | 2022 | 2023 | 2023 | 2023 | 2023 | 2023 | 2024 | ||
Borregaard | - 5 | - 4 | - 1 | - 1 | - 1 | - 2 | - 5 | -1 | -2 | -1 | -1 | -5 | -1 | ||
BioSolutions | - 5 | - 4 | - 1 | - 1 | - 1 | - 2 | - 5 | -1 | -2 | -1 | -1 | -5 | -1 | ||
BioMaterials | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Fine Chemicals | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Other income and expenses | |||||||||||||||
1.1-31.12 | 1.1-31.12 | 1.1-31.3 | 1.4-30.6 | 1.7-30.9 | 1.10-31.12 | 1.1-31.12 | 1.1-31.3 | 1.4-30.6 | 1.7-30.9 | 1.10-31.12 | 1.1-31.12 | 1.1-31.3 | |||
Amounts in NOK million | 2020 | 2021 | 2022 | 2022 | 2022 | 2022 | 2022 | 2023 | 2023 | 2023 | 2023 | 2023 | 2024 | ||
Borregaard | -116 | 0 | 0 | 12 | 0 | -20 | -8 | 0 | 0 | 0 | 0 | 0 | 0 | ||
BioSolutions | -97 | 0 | 0 | 12 | 0 | -6 | 6 | 0 | 0 | 0 | 0 | 0 | 0 | ||
BioMaterials | -18 | 0 | 0 | 0 | 0 | -12 | -12 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Fine Chemicals | - 1 | 0 | 0 | 0 | 0 | - 2 | - 2 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Operating profit (EBIT) | |||||||||||||||
1.1-31.12 | 1.1-31.12 | 1.1-31.3 | 1.4-30.6 | 1.7-30.9 | 1.10-31.12 | 1.1-31.12 | 1.1-31.3 | 1.4-30.6 | 1.7-30.9 | 1.10-31.12 | 1.1-31.12 | 1.1-31.3 | |||
Amounts in NOK million | 2020 | 2021 | 2022 | 2022 | 2022 | 2022 | 2022 | 2023 | 2023 | 2023 | 2023 | 2023 | 2024 | ||
Borregaard | 568 | 952 | 291 | 346 | 321 | 228 | 1 186 | 320 | 419 | 360 | 192 | 1 291 | 308 | ||
BioSolutions | 324 | 749 | 210 | 263 | 206 | 96 | 775 | 167 | 226 | 174 | 100 | 667 | 194 | ||
BioMaterials | 97 | 91 | 48 | 43 | 52 | 77 | 220 | 78 | 94 | 110 | 52 | 334 | 58 | ||
Fine Chemicals | 147 | 112 | 33 | 40 | 63 | 55 | 191 | 75 | 99 | 76 | 40 | 290 | 56 | ||
Quarterly segment information Borregaard Group
Hedging effects & currency exposure | |||||||||||||||||
1.1-31.12 | 1.1-31.12 | 1.1-31.3 | 1.4-30.6 | 1.7-30.9 | 1.10-31.12 | 1.1-31.12 | 1.1-31.3 | 1.4-30.6 | 1.7-30.9 | 1.10-31.12 | 1.1-31.12 | 1.1-31.3 | |||||
Amounts in NOK million | 2020 | 2021 | 2022 | 2022 | 2022 | 2022 | 2022 | 2023 | 2023 | 2023 | 2023 | 2023 | 2024 | ||||
Borregaard - EBITDA hedging gains & losses | -241 | -29 | 10 | -3 | -23 | -34 | -50 | -48 | -65 | -62 | -93 | -268 | -89 | ||||
BioSolutions | -103 | -11 | 3 | -5 | -19 | -23 | -44 | -25 | -29 | -31 | -44 | -129 | -44 | ||||
BioMaterials | -116 | -15 | 5 | 1 | -4 | -9 | -7 | -19 | -26 | -22 | -37 | -104 | -34 | ||||
Fine Chemicals | -22 | -3 | 2 | 1 | 0 | -2 | 1 | -4 | -10 | -9 | -12 | -35 | -11 | ||||
Borregaard - USD EBITDA currency exposure (approx) | 177 | 198 | 197 | 232 | |||||||||||||
Borregaard - EUR EBITDA currency exposure (approx) | 112 | 139 | 147 | 149 | |||||||||||||
Sales revenues | |||||||||||||||||
1.1-31.12 | 1.1-31.12 | 1.1-31.3 | 1.4-30.6 | 1.7-30.9 | 1.10-31.12 | 1.1-31.12 | 1.1-31.3 | 1.4-30.6 | 1.7-30.9 | 1.10-31.12 | 1.1-31.12 | 1.1-31.3 | |||||
Amounts in NOK million | 2020 | 2021 | 2022 | 2022 | 2022 | 2022 | 2022 | 2023 | 2023 | 2023 | 2023 | 2023 | 2024 | ||||
Borregaard | 5 227 | 5 715 | 1 591 | 1 720 | 1 723 | 1 742 | 6 776 | 1 825 | 1 937 | 1 688 | 1 574 | 7 024 | 1 948 | ||||
BioSolutions | 2 995 | 3 392 | 929 | 1 072 | 979 | 966 | 3 946 | 973 | 1 062 | 934 | 880 | 3 849 | 1 066 | ||||
BioMaterials | 1 695 | 1 840 | 521 | 530 | 546 | 608 | 2 205 | 674 | 649 | 557 | 515 | 2 395 | 693 | ||||
Fine Chemicals | 538 | 485 | 141 | 118 | 198 | 168 | 625 | 178 | 226 | 197 | 179 | 780 | 189 | ||||
Eliminations | - 1 | - 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
BioSolutions | |||||||||||||||||
1.1-31.12 | 1.1-31.12 | 1.1-31.3 | 1.4-30.6 | 1.7-30.9 | 1.10-31.12 | 1.1-31.12 | 1.1-31.3 | 1.4-30.6 | 1.7-30.9 | 1.10-31.12 | 1.1-31.12 | 1.1-31.3 | |||||
2020 | 2021 | 2022 | 2022 | 2022 | 2022 | 2022 | 2023 | 2023 | 2023 | 2023 | 2023 | 2024 | |||||
Average gross sales price NOK per mtds | 6 951 | 8 106 | 9 780 | 10 150 | 10 479 | 11 104 | 10 369 | 12 402 | 11 319 | 11 609 | 11 756 | 11 753 | 12 582 | ||||
Volume (`000 mtds) | 416 | 366 | 81 | 90 | 84 | 79 | 334 | 74 | 86 | 76 | 72 | 308 | 81 | ||||
Specialities volume (`000 mtds) | 88 | 89 | 84 | 73 | |||||||||||||
Contruction volume (`000 mtds) | 178 | 131 | 117 | 100 | |||||||||||||
Industrial volume (`000 mtds) | 150 | 146 | 133 | 135 | |||||||||||||
BioMaterials | |||||||||||||||||
1.1-31.12 | 1.1-31.12 | 1.1-31.3 | 1.4-30.6 | 1.7-30.9 | 1.10-31.12 | 1.1-31.12 | 1.1-31.3 | 1.4-30.6 | 1.7-30.9 | 1.10-31.12 | 1.1-31.12 | 1.1-31.3 | |||||
2020 | 2021 | 2022 | 2022 | 2022 | 2022 | 2022 | 2023 | 2023 | 2023 | 2023 | 2023 | 2024 | |||||
Average gross sales price NOK per mt | 11 678 | 10 807 | 12 595 | 13 656 | 14 880 | 16 179 | 14 283 | 16 449 | 17 551 | 15 786 | 16 260 | 16 527 | 15 700 | ||||
Volume (`000 mt) | 148,4 | 164,4 | 39,4 | 36,6 | 34,7 | 36,3 | 147,0 | 40,0 | 36,8 | 34,9 | 32,6 | 144,3 | 44,5 | ||||
High specialised as % of total cellulose product sales volum | 77 % | 79 % | 85 % | 81 % | |||||||||||||
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Disclaimer
Borregaard ASA published this content on 24 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 April 2024 05:25:06 UTC.
