Borregaard ASA: Operational issues and lower biovanillin demand in the 4th quarter
09 Diciembre 2023 - 5:10AM
Borregaard ASA: Operational issues and lower biovanillin demand in
the 4th quarter
During the 4th quarter of 2023, operational issues have affected
production at the Sarpsborg site, reducing the result mainly in
BioMaterials. Following the annual maintenance stop in October, the
production volumes, quality, and ability to utilise internal
bioenergy have been temporarily reduced. This is due to various
failures in production equipment after maintenance, as well as
prolonged commissioning of new equipment. The operational issues
have now been addressed, and no carry-over effects are expected
into the 1st quarter of 2024.
The result in BioSolutions will be negatively impacted by lower
sales volume of biovanillin in the 4th quarter. This is mainly due
to lower demand for biovanillin, which is increasingly affected by
a significant expansion in the global supply of synthetic vanillin
and ethyl vanillin.
In total, the negative EBITDA effect is estimated to be in the
range of NOK 80-100 million for the Group in the 4th quarter. The
temporary operational issues at the Sarpsborg site represent more
than half of this effect.
Sarpsborg, 9 December 2023
Contact:Director Investor Relations,
Knut-Harald Bakke, +47 905 79 164 Director Communications,
Tone Horvei Bredal, +47 924 67 711
This information is considered to be inside information pursuant
to the EU Market Abuse Regulation and is subject to the disclosure
requirements pursuant to Section 5 – 12 of the Norwegian Securities
Trading Act.
This stock exchange announcement was published by Knut-Harald
Bakke, Director Investor Relations at Borregaard ASA, on 9 December
2023 at 12:10 CET.
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