Borgestad ASA reported a challenging first quarter for 2026, with revenue for its Höganäs Borgestad segment falling short of forecasts at NOK 181 million against an expected NOK 213 million. This miss, coupled with increased competition in Nordic markets, led to a 3.37% decline in Borgestad A’s stock price.
The Nordic refractory market typically sees lower activity during winter months due to seasonal factors. Agora Bytom, however, achieved revenue growth, showcasing resilience in the Polish real estate market.
Following the earnings announcement, Borgestad A’s stock price fell by NOK 0.55 (3.37%) to NOK 15.75. This reflects investor concerns. The stock is near its 52-week low but has delivered an 86.5% return over the past year.
Looking ahead, Borgestad expects a substantial pickup in revenues and profitability in Q2 and Q3 2026 due to seasonal improvements. Bendik Persch Andersen, Group CEO of Höganäs Borgestad, expressed confidence in the Bjuv sale-leaseback transaction, with a court decision expected by summer 2026.
