Highlights 
Significant improved capital efficiency in the Group over the last twelve months
with NWC reduction of MNOK 52.6.

Höganäs Borgestad 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
at 31.12.23 to MNOK 293 at 31.03.24. After closing of sale leaseback transaction
in Bjuv (expected in 2024), the net interest-bearing debt is estimated at MNOK
152.  

In first quarter Höganäs Borgestad 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 is Pål Feen Larsen, CEO Borgestad ASA, +47 488 45 333
- -

This information is subject to disclosure requirements pursuant to the
Securities Trading Act §5-12.


About Borgestad| www.borgestad.no
Borgestad 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 Höganäs Borgestad.

About Höganäs Borgestad | www.hoganasborgestad.com
Höganäs Borgestad 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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© Oslo Bors ASA, source Oslo Stock Exchange