Boregard's EBITDA for the first quarter of 2023 is 435 million NOK.

The results of the fine chemicals segment and the biomaterials segment improved, but the bio-solutions segment decreased. The performance improvement in the fine chemicals segment was due to an increase in selling prices, an increase in production volume, and an improvement in product mix. The improvement in EBITDA for the biomaterials segment was mainly due to an increase in selling prices and foreign exchange effects. The decrease in margins and volume of traded vanillin products was the main reason for the decline in EBITDA for the bio-solutions segment. Rising costs related to wood and other raw materials, maintenance, and labor affected all business areas. Operating profit reached 320 million NOK (291 million NOK). Pre-tax profit was 292 million NOK (277 million NOK). Boregaard will invest 100 million NOK in a new green technology platform and will build a commercial-scale demonstration plant with an annual production capacity of 1,000 tons at the Sarpsborg biorefinery. *Figures in parentheses are for the same period last year. *NOK = Norwegian krone

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