Borregaard Management
Management criteria checks 3/4
We currently do not have sufficient information about the CEO.
Key information
Tom Foss-Jacobsen
Chief executive officer
NOK 8.0m
Total compensation
| CEO salary percentage | 46.72% |
| CEO tenure | 1yr |
| CEO ownership | 0.03% |
| Management average tenure | 4.1yrs |
| Board average tenure | 8.3yrs |
Recent management updates
Recent updates
Narrative Update • Jun 25
BRG: Reset Expectations And Buybacks Will Support Future Earnings Reappraisal
Borregaard's analyst price target has been revised to NOK 174 from NOK 183.80, as analysts factor in slightly lower revenue growth and profit margin assumptions, alongside a modestly reduced future P/E multiple. They view much of the recent "bad news" as already reflected in the stock.Narrative Update • Jun 04
BRG: Dividend Support And Margin Resilience Will Underpin Future Upside
The analyst fair value estimate for Borregaard has moved from NOK 198.60 to NOK 183.80 as analysts factor in updated assumptions on revenue growth, profit margins and future P/E following recent supportive research updates from Danske Bank and Kepler Cheuvreux. Analyst Commentary Bullish Takeaways Bullish analysts highlight that recent research updates support a more constructive view on Borregaard's earnings power, which feeds directly into a higher comfort level around the updated fair value range.Narrative Update • Apr 21
BRG: Dividend Support And Volume Outlook Will Underpin Future Upside
Analysts have trimmed the Borregaard fair value estimate by NOK 1.0 to NOK 198.6. This reflects slightly adjusted assumptions on discount rate, revenue growth, profit margins and future P/E following mixed recent research, including a lower price target and a downgrade alongside a separate upgrade. Analyst Commentary Bullish Takeaways Bullish analysts highlight that the recent upgrade signals confidence that current pricing already reflects much of the previous caution baked into Borregaard's shares.Narrative Update • Apr 07
BRG: Dividend Support And Updated Volume Guidance Will Drive Future Upside
Narrative Update The analyst price target for Borregaard has been adjusted slightly from NOK 200 to around NOK 199.60, as analysts update their models with a lower discount rate, largely unchanged growth and margin assumptions, and a modestly higher future P/E, following a mix of recent upgrades and target cuts in Street research. Analyst Commentary Recent Street research around Borregaard has been mixed, with one upgrade and at least two cautious views.Narrative Update • Mar 23
BRG: Dividend Support And Stable Earnings Profile Will Drive Future Upside
Analysts kept the fair value estimate for Borregaard steady at NOK 200, with only very small tweaks to inputs like the discount rate, revenue growth, profit margin, and future P/E, reflecting recent price target cuts and more cautious views in Street research. Analyst Commentary Bullish Takeaways Bullish analysts view the unchanged NOK 200 fair value estimate as a sign that the long term earnings and cash flow assumptions remain intact despite recent target cuts.Narrative Update • Mar 08
BRG: Dividend Support And Niche Margin Resilience Will Drive Future Upside
Analysts have trimmed their Borregaard price targets, with one key house cutting its view by NOK 45. This reflects a more cautious stance that also feeds into slightly lower assumed discount rates and P/E multiples in updated models.Narrative Update • Feb 22
BRG: Dividend And Margin Resilience Will Support Higher Future Fair Value
Analysts have trimmed their Borregaard price targets, with one cut of NOK 45 reflecting slightly higher discount rates and only marginal tweaks to long term revenue growth, profit margins and future P/E assumptions. Analyst Commentary Bullish Takeaways Bullish analysts appear comfortable that only marginal adjustments to long term revenue growth, profit margins and future P/E assumptions are needed, which suggests they still view the core earnings profile as intact.Analysis Article • Feb 08
Borregaard (OB:BRG) Is Increasing Its Dividend To NOK4.75
Borregaard ASA ( OB:BRG ) will increase its dividend from last year's comparable payment on the 27th of April to...Narrative Update • Feb 08
BRG: Dividend Policy And Higher Margins Will Support Future Fair Value
Analysts have reduced their fair value estimate for Borregaard from NOK 211.40 to NOK 200.00, reflecting updated assumptions on the discount rate, revenue growth, profit margin and future P/E following recent research, including a downgrade from SEB Equities. Analyst Commentary Bullish Takeaways Bullish analysts see the revised fair value of NOK 200.00 as still implying room for execution on revenue growth and margins, even after accounting for a higher discount rate and more cautious P/E assumptions.Analysis Article • Feb 03
Is Now The Time To Look At Buying Borregaard ASA (OB:BRG)?
Borregaard ASA ( OB:BRG ), might not be a large cap stock, but it received a lot of attention from a substantial price...Narrative Update • Jan 23
BRG: Government Support And Bio Project Will Continue To Underpin Fair Value
Analysts have trimmed their fair value estimate for Borregaard slightly from NOK 212.50 to about NOK 211.40, reflecting modest adjustments to the discount rate, revenue growth, profit margin and forward P/E inputs. Valuation Changes Fair Value Estimate has been adjusted slightly from NOK 212.50 to about NOK 211.40.Narrative Update • Jan 08
BRG: Government Support And Bio Project Will Support Fairly Valued Outlook
Analysts have kept their fair value estimate for Borregaard steady at NOK 212.50, with only slight technical adjustments to inputs such as discount rate, revenue growth, profit margin, and future P/E feeding into the updated price target rationale. Valuation Changes Fair Value: The fair value estimate is unchanged at NOK 212.50, with no modification to the central valuation point.Narrative Update • Dec 19
BRG: Government Support And Bio Project Will Support Stable Future Outlook
Analysts have marginally raised their price target on Borregaard to NOK 212.50, citing slightly lower discount rate assumptions while keeping revenue growth, profit margin, and future P E expectations essentially unchanged. What's in the News Norwegian Research Council awards Borregaard NOK 15 million for its Biomer innovation project, supporting development of bio based alternatives to fossil based polycarboxylates used in agriculture, industry, and household products (Norwegian Research Council) Biomer project to leverage Borregaard’s Sarpsborg biorefinery and wood chemistry expertise to convert Norwegian bioresources into greener polymers with a significantly lower environmental footprint (Norwegian Research Council) Valuation Changes The fair value estimate remains unchanged at NOK 212.50 per share, indicating no revision to the overall intrinsic value assessment.Narrative Update • Dec 05
BRG: Government Support And Stable Outlook Will Offset Temporary Production Disruption
Analysts have nudged their price target on Borregaard slightly higher to NOK 212.50, reflecting marginally lower discount rate assumptions and continued expectations for steady revenue growth, profit margins, and valuation multiples. What's in the News NOK 15 million in funding from the Norwegian Research Council will support Borregaard’s Biomer project, which aims to develop bio based alternatives to fossil based polycarboxylates used across agriculture, industry, and household products (Regulatory Authority: Compliance).Narrative Update • Nov 21
BRG: Recent Government Support Will Strengthen Outlook Amid Temporary Production Disruption
Analysts have maintained Borregaard's price target at NOK 212.50. This reflects continued confidence in the company’s financial outlook, despite only marginal adjustments to key assumptions.Narrative Update • Nov 06
BRG: Rising Bio-Based Support Will Drive Long-Term Upside Momentum
Analysts have revised Borregaard’s fair value target slightly downwards, from NOK 214.75 to NOK 212.50. They cite updated projections for profit margins and market conditions as influencing factors.Narrative Update • Oct 23
Analysts Adjust Borregaard Price Target and Valuation Following Recent Updates and Ongoing Developments
Analysts have slightly lowered their price target for Borregaard from NOK 217.50 to NOK 214.75. This change is due to minor adjustments in discount rate and valuation metrics after reviewing updated forecasts.Analysis Article • Sep 17
Borregaard (OB:BRG) Is Experiencing Growth In Returns On Capital
If you're looking for a multi-bagger, there's a few things to keep an eye out for. Amongst other things, we'll want to...Analysis Article • Sep 02
We Think Borregaard (OB:BRG) Can Stay On Top Of Its Debt
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Analysis Article • Jul 19
Analysts Are Updating Their Borregaard ASA (OB:BRG) Estimates After Its Second-Quarter Results
Shareholders might have noticed that Borregaard ASA ( OB:BRG ) filed its quarterly result this time last week. The...Analysis Article • Jun 10
If EPS Growth Is Important To You, Borregaard (OB:BRG) Presents An Opportunity
Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...Analysis Article • May 03
Borregaard ASA (OB:BRG) First-Quarter Results Just Came Out: Here's What Analysts Are Forecasting For This Year
Borregaard ASA ( OB:BRG ) just released its latest quarterly results and things are looking bullish. Results were good...Analysis Article • Apr 04
Here's Why Borregaard ASA's (OB:BRG) CEO Compensation Is The Least Of Shareholders Concerns
Key Insights Borregaard to hold its Annual General Meeting on 10th of April CEO Per Sørlie's total compensation...Analysis Article • Mar 19
There's Reason For Concern Over Borregaard ASA's (OB:BRG) Price
With a price-to-earnings (or "P/E") ratio of 21.5x Borregaard ASA ( OB:BRG ) may be sending very bearish signals at the...
New Narrative • Feb 02
BioSolutions Expansion And Environmental Initiatives Will Benefit Future Operations
Focus on high-value products and specialization in BioSolutions and BioMaterials aims to improve product mix and enhance net margins.Analysis Article • Feb 01
Borregaard ASA (OB:BRG) Just Released Its Yearly Earnings: Here's What Analysts Think
It's been a good week for Borregaard ASA ( OB:BRG ) shareholders, because the company has just released its latest...Analysis Article • Jan 24
Returns Are Gaining Momentum At Borregaard (OB:BRG)
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'd...Analysis Article • Nov 21
Borregaard ASA's (OB:BRG) Business Is Yet to Catch Up With Its Share Price
Borregaard ASA's ( OB:BRG ) price-to-earnings (or "P/E") ratio of 22.5x might make it look like a strong sell right now...Analysis Article • Sep 21
Here's Why Borregaard (OB:BRG) Can Manage Its Debt Responsibly
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Analysis Article • Aug 31
Borregaard (OB:BRG) Shareholders Will Want The ROCE Trajectory To Continue
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...Analysis Article • Jul 23
Borregaard ASA's (OB:BRG) Share Price Not Quite Adding Up
With a price-to-earnings (or "P/E") ratio of 23.1x Borregaard ASA ( OB:BRG ) may be sending very bearish signals at the...Analysis Article • Jun 22
Here's Why Borregaard (OB:BRG) Can Manage Its Debt Responsibly
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Analysis Article • Jun 07
Calculating The Fair Value Of Borregaard ASA (OB:BRG)
Key Insights The projected fair value for Borregaard is kr223 based on 2 Stage Free Cash Flow to Equity Borregaard's...Analysis Article • Apr 05
This Is Why We Think Borregaard ASA's (OB:BRG) CEO Might Get A Pay Rise Approved By Shareholders
Key Insights Borregaard's Annual General Meeting to take place on 11th of April CEO Per Sørlie's total compensation...Analysis Article • Apr 05
This Is Why We Think Borregaard ASA's (OB:BRG) CEO Might Get A Pay Rise Approved By Shareholders
Key Insights Borregaard to hold its Annual General Meeting on 11th of April Salary of kr4.12m is part of CEO Per...Analysis Article • Feb 12
These 4 Measures Indicate That Borregaard (OB:BRG) Is Using Debt Reasonably Well
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Analysis Article • Jan 27
There's Reason For Concern Over Borregaard ASA's (OB:BRG) Price
When close to half the companies in Norway have price-to-earnings ratios (or "P/E's") below 11x, you may consider...Analysis Article • Jan 06
Investors Will Want Borregaard's (OB:BRG) Growth In ROCE To Persist
If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...Analysis Article • Nov 03
Calculating The Intrinsic Value Of Borregaard ASA (OB:BRG)
Key Insights Borregaard's estimated fair value is kr155 based on 2 Stage Free Cash Flow to Equity Current share price...Analysis Article • Oct 19
Here's Why Borregaard (OB:BRG) Can Manage Its Debt Responsibly
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Analysis Article • Sep 26
Is Now The Time To Put Borregaard (OB:BRG) On Your Watchlist?
For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...Analysis Article • Sep 07
Borregaard (OB:BRG) Is Investing Its Capital With Increasing Efficiency
What trends should we look for it we want to identify stocks that can multiply in value over the long term? Firstly...CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Jun 30 2026 | n/a | n/a | NOK 169m |
| Mar 31 2026 | n/a | n/a | NOK 551m |
| Dec 31 2025 | NOK 8m | NOK 4m | NOK 620m |
| Sep 30 2025 | n/a | n/a | NOK 830m |
| Jun 30 2025 | n/a | n/a | NOK 885m |
| Mar 31 2025 | n/a | n/a | NOK 874m |
| Dec 31 2024 | NOK 6m | NOK 3m | NOK 823m |
| Sep 30 2024 | n/a | n/a | NOK 813m |
| Jun 30 2024 | n/a | n/a | NOK 800m |
| Mar 31 2024 | n/a | n/a | NOK 839m |
| Dec 31 2023 | NOK 6m | NOK 3m | NOK 870m |
| Sep 30 2023 | n/a | n/a | NOK 935m |
| Jun 30 2023 | n/a | n/a | NOK 937m |
| Mar 31 2023 | n/a | n/a | NOK 906m |
| Dec 31 2022 | NOK 5m | NOK 3m | NOK 892m |
| Sep 30 2022 | n/a | n/a | NOK 810m |
| Jun 30 2022 | n/a | n/a | NOK 782m |
| Mar 31 2022 | n/a | n/a | NOK 763m |
| Dec 31 2021 | NOK 5m | NOK 3m | NOK 692m |
| Sep 30 2021 | n/a | n/a | NOK 711m |
| Jun 30 2021 | n/a | n/a | NOK 612m |
| Mar 31 2021 | n/a | n/a | NOK 480m |
| Dec 31 2020 | NOK 3m | NOK 2m | NOK 436m |
| Sep 30 2020 | n/a | n/a | NOK 353m |
| Jun 30 2020 | n/a | n/a | NOK 372m |
| Mar 31 2020 | n/a | n/a | NOK 393m |
| Dec 31 2019 | NOK 3m | NOK 2m | NOK 417m |
Compensation vs Market: Tom's total compensation ($USD847.17K) is about average for companies of similar size in the Norwegian market ($USD995.88K).
Compensation vs Earnings: Tom's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
CEO
Tom Foss-Jacobsen (57 yo)
1yr
Tenure
NOK 8,002,786
Compensation
Mr. Tom Erik Foss-Jacobsen serves as Chief Executive Officer of Borregaard ASA since August 01, 2025 and had been its Executive Vice President of BioSolutions since May 27, 2019 until August 01, 2025 and s...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chief Executive Officer | 1yr | NOK 8.00m | 0.032% NOK 5.1m | |
| Chief Financial Officer | 28.6yrs | NOK 4.67m | 0.063% NOK 10.1m | |
| Executive VP of Manufacturing & Technology | 1.6yrs | NOK 4.83m | 0.035% NOK 5.6m | |
| Senior Vice President of Public Affairs & Sustainability | 18.6yrs | NOK 3.67m | 0.058% NOK 9.1m | |
| Senior VP of Human Resources | 1.6yrs | NOK 5.25m | 0.0048% NOK 760.8k | |
| Executive Vice President of Speciality Cellulose & Fine Chemicals | 19.6yrs | NOK 4.54m | 0.023% NOK 3.6m | |
| Senior Vice President of R&D and Business Development | 7.3yrs | NOK 3.74m | 0.070% NOK 11.2m | |
| Senior Vice President of Procurement & Strategic Sourcing | 6.6yrs | NOK 3.60m | 0.014% NOK 2.2m | |
| Executive Vice President of BioSolutions | 1yr | NOK 6.32m | 0.0026% NOK 406.6k | |
| Director of Investor Relations | less than a year | no data | no data | |
| General Counsel | no data | no data | no data | |
| Investor Relations Officer | no data | no data | no data |
4.1yrs
Average Tenure
61yo
Average Age
Experienced Management: BRG's management team is considered experienced (4.1 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Independent Director | 8.3yrs | NOK 461.50k | 0.0041% NOK 649.6k | |
| Independent Chairman | 8.3yrs | NOK 801.50k | 0.0045% NOK 717.9k | |
| Independent Director | 13.8yrs | NOK 526.00k | 0.0044% NOK 697.3k | |
| Board Observer | 13.8yrs | NOK 105.00k | 0.0019% NOK 297.0k | |
| Employee Representative Director | 13.8yrs | NOK 314.00k | 0.0039% NOK 613.1k | |
| Board Observer | 13.8yrs | NOK 105.00k | 0.0038% NOK 602.0k | |
| Independent Director | 8.3yrs | NOK 485.00k | 0.011% NOK 1.8m | |
| Employee Representative Director | 6yrs | NOK 314.00k | 0.0026% NOK 406.6k | |
| Director | less than a year | no data | no data |
8.3yrs
Average Tenure
61yo
Average Age
Experienced Board: BRG's board of directors are considered experienced (8.3 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/08/14 23:32 |
| End of Day Share Price | 2026/08/14 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
|
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Borregaard ASA is covered by 6 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| null null | ABG Sundal Collier |
| Sebastian Bray | Berenberg |
| Andres Castanos-Mollor | Berenberg |