Borregaard launches NOK 150 million cost programme after second-quarter results

Borregaard ASA posted operating revenues of NOK 2,114 million in the second quarter of 2026, up from NOK 2,045 million, while EBITDA was NOK 515 million versus NOK 522 million a year earlier. BioMaterials and Fine Chemicals improved, with record production and higher speciality cellulose and Fine Chemicals deliveries, while BioSolutions fell on energy costs and currency effects. The company recorded a NOK 337 million impairment on its Alginor ASA investment, leaving profit before tax at NOK -45 million, and is launching a cost programme targeting NOK 150 million in annual savings with full effect from 2028.

Key facts

Market context

Specialty cellulose is a purified form of wood pulp used in products where consistency and purity matter, such as paints and coatings, construction materials, pharmaceutical excipients, food ingredients and filtration media. Fine chemicals derived from wood-based feedstocks serve related markets including pharmaceuticals, agrochemicals and specialty additives. Demand in these end markets tends to follow industrial output and consumer goods cycles, while the feedstock is linked to forestry supply and pulp market conditions. Energy, logistics and raw material costs strongly influence margins for producers in this group, and currency movements can shift reported earnings for companies that sell internationally. Cost reduction programmes like this are common across the sector when input costs rise faster than prices, as producers look to protect profitability and remain competitive against other cellulose and specialty chemical suppliers.

Source: official release on borregaard.com. Summary and context written by Market Krystal.