Borregaard

Borregaard is a supplier of specialized biochemicals for a global customer base. Co.'s main products are lignin-based products and specialty cellulose, but its product portfolio also extends to vanillin, bioethanol and fine chemicals. Co.'s products serve applications in a range of global end-markets including construction, agriculture, food and beverages, transportation and pharmaceuticals. Co.'s business model is closely linked to the integrated nature of its biorefinery in Norway, which utilizes the wood components to produce a portfolio of products. Co. operates in three business segments: Performance Chemicals, Specialty Cellulose and Other Businesses.
  • TickerBRG
  • ISINNO0010657505
  • ExchangeOslo Bors
  • SectorChemicals
  • CountryNorway

Analysts

Sector Fast Comment - October pulp data: shipments +7% y-o-y

Global shipments +7% y-o-y, to China +33% y-o-y Inventories come down to 42 days of supply (44 in Sept) Softwood prices start to turn up (-30-40% from peak)

Martin Melbye ...
  • Øystein Elton Lodgaard

Sector Fast Comment - September pulp data: shipments +3% y-o-y

Global shipments +3% y-o-y, to China +15% y-o-y Inventories come down to 44 days of supply (48 in Aug) Pulp prices start to turn up (-30-40% from peak)

Sector Fast Comment - October pulp data: shipments +7% y-o-y

Global shipments +7% y-o-y, to China +33% y-o-y Inventories come down to 42 days of supply (44 in Sept) Softwood prices start to turn up (-30-40% from peak)

Martin Melbye ...
  • Øystein Elton Lodgaard

Sector Fast Comment - September pulp data: shipments +3% y-o-y

Global shipments +3% y-o-y, to China +15% y-o-y Inventories come down to 44 days of supply (48 in Aug) Pulp prices start to turn up (-30-40% from peak)

Eivind Sars Veddeng

Borregaard (Hold, TP: NOK105.00) - Down to HOLD on downside risks

Q3 was positively affected by strong sales in Specialty Cellulose (SC) and as we do not expect this to be repeated in Q4 or 2020 SC is unlikely to offset weaker results in Lignin. As a result we have lowered our 2019−2021e EBITA by 2-4%. The stock is up c30% YTD and as we now see moderate downside risk to consensus we have downgraded our recommendation to HOLD (BUY). Our new target price is NOK105 (110).

Martin Melbye ...
  • Øystein Elton Lodgaard

Borregaard - Lignin problems in Q3

Clean EBITA in-line, but weaker in Lignin results Lower input costs - price negotiations on specialty next Long-term EPS capacity of ~NOK 10, P/E of 10x

Martin Melbye ...
  • Øystein Elton Lodgaard

Borregaard - Raindrops keep falling on Q3

Clean EBITA in-line, EPS 8% below. Lignin weaker Specialty cellulose and Other better Lignin volumes guided down

1 director sold

A director at Borregaard Asa sold 12,000 shares at 92.000NOK and the significance rating of the trade was 52/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board...

Christer Magnergård ...
  • Eivind Sars Veddeng
  • Frank Maaø
  • Joachim Gunell
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Martin Hoang Nguyen
  • Mattias Holmberg
  • Niklas Wetterling
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

Alexander Aukner ...
  • Christoffer Wang Bjørnsen
  • Eivind Sars Veddeng
  • Frank Maaø
  • Karl-Johan Bonnevier
  • Ole-Andreas Krohn
  • Paul Harper
  • Rune Majlund Dahl
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

Christer Magnergård ...
  • Christoffer Wang Bjørnsen
  • Eivind Sars Veddeng
  • Frank Maaø
  • Joachim Gunell
  • Jon Masdal
  • Marius Knudssøn
  • Martin Huseby Karlsen
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Alexander Aukner ...
  • Christer Magnergård
  • Eivind Sars Veddeng
  • Martin Arnell
  • Mattias Holmberg
  • Ole-Andreas Krohn
  • Olof Larshammar

Northern Lights

Eivind Sars Veddeng ...
  • Håkon Astrup
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Martin Hoang Nguyen
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Stefan Gauffin

Northern Lights

BORREGAARD ASA loses on its star level and is downgraded to Slightly Positive

The independent financial analyst theScreener just slightly lowered the general evaluation of BORREGAARD ASA (NO), active in the Specialty Chemicals industry. The title has lost a star(s) at the fundamental level and now shows 1 out of 4 stars. Its exposure to market risk remains nonetheless the same and can be still described as defensive. theScreener slightly downgrades the general evaluation to Slightly Positive for the title on account of the lost star(s). As of the analysis date October 22, 2019, the closing price was NOK 93.80 and its potential was estimated at NOK 106.70.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

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