Pål Espen Ramberg
Good afternoon, and welcome to Borregaard’s pre-close call. My name is Pal Espen Ramberg, Director of Investor Relations at Borregaard. I’m joined today by CFO, Per Bjarne Lyngstad, and we are broadcasting live from the biorefinery in Norway.
Here is the agenda for today’s call. First, the outlook for the latest quarterly report; secondly, currency and commodity inputs based on public data; and last, a Q&A session. Participants are welcome to submit questions via the chat during the call.
I will now hand over to Per Bjarne, who will present the key points from the outlook communicated in the Q4 report.
Per Bjarne Lyngstad
CFO & Interim Director of Investor Relations
Thank you, Pal Espen, and good afternoon, everyone.
I will start with reiterating the key points from the outlook for both the full year and the first quarter of 2026. And when relevant, prefer to comment on the outlook given in the Q&A sessions at the webcast for the fourth quarter on the 4th of February this year.
I will start with the BioSolutions, where we expect the sales volume to be approximately 340,000 tonnes for the full year with continued growth in the agriculture segment. The first quarter sales volume is expected to be around 80,000 tonnes, more or less in line with 81,000 tonnes we had in the first quarter of 2025.
We got one question regarding BioSolutions at the webcast, which was related to our reference to strong agriculture markets and improvements in biovanillin. Except from the first quarter, EBITDA in 2025 was not much stronger than 2024 for
