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results, whereas BioSolutions had a result in line with the same period last
year.
BioSolutions had a significant reduction in raw material supply and hence lower
sales volume, offset by an improved product mix and favourable currency effects.
In BioMaterials, lower wood and energy costs, high production volume and
positive currency effects more than compensated for a lower sales volume. For
Fine Chemicals, sales of bioethanol to disinfectants was the main reason for the
improved result. The total net currency impact on EBITDA was approximately NOK
30 million compared with the corresponding period in 2019.
During the 2(nd) quarter, effects related to the coronavirus situation started
to materialise in sales and results. The discontinued raw material supply to
LignoTech South Africa and reduced demand in some biopolymers sectors and
certain cellulose grades all had a negative effect, while the increased sales of
bioethanol to disinfectants contributed positively.
Other income and expenses were NOK -96 million (NOK -16 million) in the 2(nd)
quarter, mainly due to impairment of assets and restructuring costs related to
the mothballed operation in South Africa.
Profit before tax was NOK 133 million (NOK 140 million). Earnings per share were
NOK 1.01 (NOK 1.22).
- We are pleased with the Group’s strong performance and the way our
organisation has handled a demanding period with significant disruptions for our
operations, says President and CEO Per A. Sørlie.
Contacts:
Director Investor Relations, Jørn Syvertsen, +47 958 36 335
SVP Organisation and Public Affairs, Dag Arthur Aasbø, +47 918 34 108
- Figures in parentheses are for the corresponding period in the preceding year
- Operating profit before depreciation, amortisation and other income and
expenses
This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act.
Kilde
