Borregaard ASA (BRGAY) Q3 2026 Earnings Call Transcript
Tom Foss-Jacobsen
Chief Executive Officer
Good morning, everyone, and welcome to Borregaard’s presentation of the third quarter 2026 results. My name is Tom Erik Foss-Jacobsen, CEO of Borregaard. I’m joined today by our CFO, Per Bjarne Lyngstad. And together, we will take you through this agenda. I’ll start with the main highlights, followed by an update on our business segments and the outlook for the fourth quarter. I will then hand over to Per Bjarne, who will take you through the financial performance in more detail. And before we begin, just a quick reminder to those of you watching the live webcast that you’re welcome to submit questions at any time during the presentation, and we will address your questions at the end.
Let’s start with the highlights for the third quarter. The key message is strong execution. EBITDA reached an all-time high of NOK 557 million with a record margin of 29.4%. Results improved across all business areas and BioMaterials delivered an all-time high result, supported by higher deliveries and strong production of specialty cellulose. More broadly, the performance was supported by high production and stable operations at our site in Sarpsborg, contributing also to lower unit costs. The result also benefited from savings from our cost improvement program and from optimization of our flexible energy system. Selective price increases at the beginning of the quarter also provided further support to the record results. Overall, the result was driven primarily by operational execution and disciplined cost management.
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