Financial Performance - Operating revenues increased to NOK 2,045 million in Q2 2025, up from NOK 1,949 million in the same period last year [1] - EBITDA reached NOK 522 million, compared to NOK 510 million in the previous year [1] - Profit before tax was NOK 326 million, slightly up from NOK 322 million [2] - Earnings per share increased to NOK 2.56 from NOK 2.45 [2] Segment Performance - BioSolutions saw improved results driven by continued growth in sales to agriculture [2][3] - BioMaterials experienced an increase in results due to higher sales prices, improved product mix, and increased sales volume, although this was partly offset by higher wood costs [2] - Fine Chemicals reported a weaker result primarily due to lower sales prices for bioethanol [2] Market Conditions - Positive net currency effects were noted across all areas [2] - The company’s President and CEO highlighted strong sales to agriculture and price increases for specialty cellulose as key drivers for improved results in BioSolutions and BioMaterials [3]

Core Insights - Borregaard reported an increase in operating revenues to NOK 2,036 million in Q1 2025, up from NOK 1,975 million in the same quarter last year [1] - EBITDA rose to NOK 511 million, compared to NOK 442 million in the previous year [1] - Profit before tax increased to NOK 319 million from NOK 261 million year-over-year [2] BioSolutions Performance - BioSolutions achieved an all-time high result, driven primarily by strong sales to the agriculture sector [2][3] - The specialization strategy of the company has shown resilience in challenging macroeconomic conditions, which is expected to be a key driver for future success [3] BioMaterials and Fine Chemicals Performance - For BioMaterials, higher sales prices were countered by lower sales volumes and increased costs, including wood costs [2] - Fine Chemicals experienced a weaker result primarily due to lower sales prices for bioethanol [2] Earnings Per Share - Earnings per share increased to NOK 2.52, up from NOK 2.01 in the corresponding quarter last year [2]