Scandinavian Biogas Interim Report for the period 1 January – 31 March 2018
Cooperation agreement with Mönsterås Biogas AB and filling station in operation at Södertörn facility.
First quarter in brief
- The Group signed a cooperation agreement with Mönsterås Biogas AB for the joint development of an investment project for possible biogas production in Mönsterås municipality. The project objective is the capacity to treat 100,000 tonnes of manure and produce over 110 GWh of liquid biogas (LBG) annually.
- A filling station at the Group’s biogas facility at Södertörn was commissioned in early 2018. The filling station will primarily sell biogas for lorries and refuse lorries that visit SRV Återvinning’s plant at Södertörn.
- Net sales totalled SEK 63.6 million (65.5), a 2.9% decrease primarily attributable to the delivery of lower-than-contracted volumes of food waste at the plant in Ulsan, South Korea.
- EBITDA was SEK +1.4 million (+10.5), with the year-on-year decline mainly due to increased operating and maintenance costs at Södertörn, expenses for legal services, the penalty fee in South Korea, and increased personnel costs in Norway.
- The Group posted an operating loss of SEK 12.5 million (-2.3)
- The Group posted a loss after tax of SEK 22.5 million (-4.3)
Significant events after the end of the interim period
- Notice of written procedure was distributed to bondholders in April 2018
The interim report for the first quarter 2018 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 26, 2018, at 15:00 CET.