All-timehigh EBITDA1 of NOK 416 million (NOK 361 million)
Strong performance in BioSolutions
Improved product mix and high deliveries in BioMaterials
Negative net currency impact
Strong cash flow
Increased biovanillin capacity in operation
3 1) Alternative performance measure, see Appendix for definition
BioSolutions markets - Q2
NOK per mtds
Average gross sales price1
8 500
7 838
8 000
7 709
7 431
7 500
6 885
6 756
7 000
6 701
500
000
500
Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21
Sales price and sales volume include lignin-based biopolymers and biovanillin
'000 mtds
Sales volume1
2020
2021
150
125
115
106
100
99
96
100
90
75
50
25
0
Q1
Q2
Q3
Q4
Average price in sales currency 18% above Q2-20
Price increases, favourable product mix and reduced sales volume to low-value applications
Sales volume 6% lower vs Q2-20
Discontinued raw material supply, partly offset by increased volume from Florida and inventory reductions
No raw material deliveries from Park Falls in Q2
Negative FX impact
1 Includes 100% of sales volume from the J/V in South Africa for the two first quarters of 2020
4
Average sales price is calculated using actual FX rates, excluding hedging impact.
Strategic priorities - BioSolutions
New supply situation - an opportunity to sharpen the strategy
Specialisation through innovation and market development
Drive value growth based on expertise and sustainable solutions with unique performance
Balance market risk through diversification of the product portfolio
Focus on advanced applications with high value-added, stable growth and preference for sustainable solutions
Reduce exposure to low-end and cyclical markets
Increased value added from the unique Sarpsborg biorefinery
Leverage the high-value lignin raw material, unique technology and increased specialisation capacity
Successful market introduction of increased biovanillin capacity
1 Includes 100% of sales volume from the J/V in South Africa for 2018 to 2020.
'000 mtds
500
450
400
350
300
250
200
150
100
50
0
Sales volume - BioSolutions
375-400
468470
416
2018
2019
2020
2021-23
5
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Borregaard ASA published this content on 15 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 July 2021 05:14:07 UTC.
Borregaard ASA is a Norway-based biorafinery. The Group provides sustainable products and solutions based on renewable raw materials. Its business model is closely linked to the integrated nature of its biorefinery in Norway, which utilises the three key components of wood cellulose fibres, lignin and sugars to produce a diversified portfolio of products. The Company operates through three business segments. BioSolutions develops, produces and sells biopolymers and biovanillin from lignin. BioMaterials develops, produces and sells speciality cellulose mainly for use as a raw material in the production of cellulose ethers, cellulose acetate and other speciality products. Fine Chemicals consists of second-generation bioethanol and intermediates mainly for contrast agents.
BORREGAARD ASA 
