Borregaard Asa (BRRDF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the third quarter 2025 presentation for Borgard. My name is Tom-Erik Foss Jakobsen. I'm the new CEO since 1st of August, and I'll be joined today by Per-Bjarne Lyngstad, our CFO, and we will take you through this agenda. I'll begin with the key highlights from the quarter and provide an update on the market situation across our business segments. I will then share details on our second investment to increase capacity at our site in Salzburg, which has recently been approved on the board level, as well as our participation in a convertible loan to Algenor. Finally, I'll summarize the outlook for the remainder of the year before handing over to Per Bjarne, who will walk you through the financial performance in more detail. Before we continue, I just would like to remind those of you watching the webcast live that you're welcome to submit questions at any time during the presentation, and we'll address them at the end of the presentation. Let's begin with the highlights for the third quarter. EBITDA came in at 440 million, down from 524 million in the same quarter last year. The overall result was reduced due to lower bioethanol prices and disruption in cell-lose production. The disruption had a negative EBITDA impact of approximately 40 million. We saw solid performance in biosolutions, driven by continued sales growth in agriculture, marking the seventh consecutive quarter of growth in that area. In biomaterials, we continued to see increased sales prices. Our fine chemical intermediates delivered a strong result. Across all business areas, we had positive net currency effects. Now let's turn to the market situation, starting with BioSolutions. Sales volume increased 4% compared to the same quarter last year. This growth was again driven by...