Borregaard Asa (BRRDF) Q2 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.659 Good morning and welcome to this second quarter 2025 presentation for BorderGuard. 00:00:05.659 -- 00:00:10.586 My name is Per Sørle. I'm the CEO of the company and I'll be joined during this presentation 00:00:10.586 -- 00:00:15.153 by Per-Bjarne Lyngstad, our CFO, and we will take you through this agenda. 00:00:15.153 -- 00:00:19.099 I'll talk about the highlights in the quarter, the market situation for the business 00:00:19.099 -- 00:00:24.126 segments, the environmental investment that we have just passed at the board 00:00:24.126 -- 00:00:27.502 level and also the outlook for the remainder of the year. 00:00:27.502 -- 00:00:33.647 And then Per Bjarne will come back and talk about the financial performance in more detail. 00:00:33.889 -- 00:00:39.254 First of the highlights for the second quarter, EBITDA came in at 522 million, 00:00:39.254 -- 00:00:43.959 up from 510 million in the same quarter last year. 00:00:43.959 -- 00:00:48.964 We saw strong performance in BioSolutions, where the growth again 00:00:48.964 -- 00:00:52.158 was driven by increased sales to agriculture. 00:00:52.158 -- 00:00:57.465 We also saw a very good result in biomaterials, where higher sales prices, improved product 00:00:57.465 -- 00:01:02.572 mix and increased sales volume contributed positively, but this was partly offset 00:01:02.572 -- 00:01:05.316 by increased wood costs. 00:01:05.316 -- 00:01:10.263 In fine chemicals, the result came down, and this was driven by lower sales prices for 00:01:10.263 -- 00:01:12.263 bioethanol. 00:01:12.426 -- 00:01:18.571 Altogether, we had positive net currency effects across all business areas. 00:01:18.584 -- 00:01:22.529 Then on to the market situation, first with BioSolutions. 00:01:22.529 -- 00:01:27.716 Th...