Borregaard Asa (BRRDF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to this first quarter 2025 presentation for Beauregard. My name is Per Sørli, 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'll talk about the highlights in the first quarter, the market development in the business segments. the tariff situation and the Algonor capital race that was completed after the end of the quarter and then the outlook for the remainder of the year. And Pebjarni 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 delivering an EBITDA of 511 million compared to 442 million in the previous same quarter last year. This was particularly driven by the development in BioSolutions, where we had an all-time high result for a single quarter. And this was particularly explained by the strong sales in agriculture, where we have a broad offering with specialized products, but also more standardized products. In biomaterials, we delivered higher sales prices as predicted, but this was offset by lower sales volume and increased wood costs. So the result was quite in line with the previous quarter last year, the same quarter last year. In fine chemicals, the results were down a bit because of lower sales prices for bioethanol. The positive net currency effects also had a positive impact on the result that was delivered in the quarter. If we then look at biosolutions first, The sales volume was in line with t...