Scandinavian Biogas Interim Report for the period 1 January – 30 September 2017
EBITDA for third quarter 2017 more than doubled year-on year. Work is in progress on a prospective listing of the Company’s share in a suitable marketplace.
Third quarter in brief
- Net sales totalled SEK 60.7 million (58.4), a 3.9% increase
- EBITDA was SEK +9.2 million (+3.9), a 134.8% improvement
- The Group posted an operating loss of SEK 3.6 million (-8.3)
- The Group posted a loss after tax of SEK 17.1 million (-8.4); the change is mainly attributable to intra-group financing in South Korea
- The subsequent bond issue totalling SEK 30 million was listed on NASDAQ Stockholm in August
First three quarters in brief
- The plant at Södertörn was granted a new environmental permit in January, which entitles the facility to receive 260,000 tonnes (previously 50,000 tonnes) of organic waste and produce 20 million Nm3 of biogas
- The evaporation plant at Södertörn was commissioned in March
- Net sales totalled SEK 191.9 million (172.8), an 11.1% increase
- EBITDA was SEK +31.9 million (+17.3), an 84.7% improvement
- The Group posted an operating loss of SEK 6.7 million (-17.0)
- The Group posted a loss after tax of SEK 40.9 million (-29.4); the change is mainly due to unrealised exchange losses attributable to intra-group financing in South Korea
- A directed share issue and a preferential rights issue were conducted, representing a gross contribution of SEK 66.6 million
- Subsequent bonds totalling SEK 30 million were issued in June 2017 within the framework of the Company’s outstanding bond loan
Significant events after the end of the interim period
- In light of information received from the general contractor for the investment project in Skogn, Norway, the Group’s assessment is that delivery of the facility will be moved to the first six months of 2018
The interim report for the third 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, firstname.lastname@example.org
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 October 26, 2017, at 07:30 CET.