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Borregaard Delivers Record 2025 EBITDA Despite Start-up Impairments and Bioethanol Pressure

Story Highlights
  • Borregaard’s fourth-quarter 2025 revenue and EBITDA rose slightly, but segment mix and start-up impairments led to a reported pre-tax loss.
  • For full-year 2025, Borregaard achieved record EBITDA and higher revenues, with underlying earnings resilient despite lower bioethanol prices and rising costs.
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The latest update is out from Borregaard ASA ( (GB:0QB7) ).

Borregaard reported a modest rise in fourth-quarter 2025 operating revenues to NOK 1,833 million and slightly higher EBITDA of NOK 405 million, with improved performance in its BioMaterials segment offset by weaker results in BioSolutions and Fine Chemicals due to higher costs and lower bioethanol prices. A NOK 245 million impairment on investments in three bio-based start-ups pushed the quarter into a pre-tax loss and negative earnings per share, but excluding these write-downs the company remained profitable and delivered a record full-year 2025 EBITDA of NOK 1,878 million, with revenues edging up to NOK 7,713 million and underlying earnings per share exceeding the previous year despite pressure from bioethanol markets and cost inflation.

The most recent analyst rating on (GB:0QB7) stock is a Hold with a NOK207.00 price target. To see the full list of analyst forecasts on Borregaard ASA stock, see the GB:0QB7 Stock Forecast page.

More about Borregaard ASA

Borregaard ASA is a Norwegian specialty chemicals company that produces advanced bio-based products, including lignin-based biomaterials, biovanillin and other biosolutions, as well as fine chemical intermediates and bioethanol. Its portfolio is organised in the BioMaterials, BioSolutions and Fine Chemicals segments, and serves global markets such as agriculture, food ingredients and various industrial applications with a focus on sustainable, wood-based raw materials.

Average Trading Volume: 73,106

Current Market Cap: NOK18.96B

For a thorough assessment of 0QB7 stock, go to TipRanks’ Stock Analysis page.

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