Scandinavian Biogas Interim report for the period 1 January – 31 March 2017
The plant at Södertörn was granted a new environmental permit which entitles the facility to significantly increase waste volumes and biogas production. The evaporator has been commissioned, significantly reducing external water consumption.
First quarter in brief
- The facility at Södertörn was granted a new environmental permit in January. Under the new permit, the facility is entitled to process up to 260,000 tonnes of organic waste and to produce 20 million Nm3 of biogas.
- SEK 16 million shareholder loan was obtained in February in preparation for share issue
- Evaporation facility at Södertörn was commissioned in March
- Net sales totalled SEK 65.5 million (52.8), up 24%
- EBITDA (operating profit before depreciation and amortisation) was SEK +10.5 million (+7.0), a 50% improvement
- The Group posted an operating loss of SEK 2.3 million (-3.1)
- The Group posted a loss after tax of SEK -4.3 million (-11.4)
Significant events after the end of the interim period
- In mid-April the Board of Directors decided to conduct a directed share issue and a preferential rights issue. The directed share issue has been subscribed by Wipunen varainhallinta Oy and is already registered. If also the preferential rights issue will be fully subscribed, it is signifying a gross contribution to the Company of approximately SEK 66 million.
The interim report for the first quarter 2017 for Scandinavian Biogas Fuels International AB (publ) is now available on www.scandinavianbiogas.com.
For further information, contact Matti Vikkula, CEO and president,
+46 70 597 99 38, email@example.com
The information in this press release is such that Scandinavian Biogas Fuels International AB (publ) must disclose in accordance with the EU Market Abuse Regulation (EU MAR) No. 596/2014. The information was submitted for publication on April 28, 2017, at 13:30 CET.