Highlights Significant improved capital efficiency in the Group over the last twelve months with NWC reduction of MNOK 52.6. HöganäsBorgestad Group has increased its adjusted EBIT margin with 1.7 percent over the last twelve months. Net interest-bearing debt further decreased in the first quarter from MNOK 307 at31.12.23 to MNOK 293 at31.03.24 . After closing of sale leaseback transaction in Bjuv (expected in 2024), the net interest-bearing debt is estimated at MNOK 152. In first quarter HöganäsBorgestad Group has entered into three maintenance contracts with a total estimated contract value of MNOK 140 - 185.Borgestad ASA's report for the first quarter of 2024 is attached hereto. The contact person isPål Feen Larsen , CEOBorgestad ASA , +47 488 45 333 - - This information is subject to disclosure requirements pursuant to the Securities Trading Act §5-12. AboutBorgestad | www.borgestad.noBorgestad ASA (OSE:BOR) is an investment company focused on real estate and industry. The key investments include Agora Bytom shopping center and the leading refractory manufacturer HöganäsBorgestad . About HöganäsBorgestad | www.hoganasborgestad.com HöganäsBorgestad develops, manufactures and delivers refractory products, installations and turnkey solutions that enhance the productivity and competitiveness of industrial customers. The aim is to contribute to the customers' profitability by providing high-value refractory solutions to their challenges. Today, the company is a leading supplier in the refractory market of the Nordic countries and has a global presence in a number of selected application areas.
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