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Green financing and equity frameworks

Introduction to the green financing and equity frameworks

Scandinavian Biogas has been reviewed by CICERO Shades of Green AS (“CICERO”), which provides a market-leading independent, research-based evaluations of green and sustainability bonds as well as full company assessments.
CICERO has provided second opinions on companies’ debt financings since 2008 and rates the debt in Dark Green, Medium Green and Light Green shades to offer investors better insight into the environmental quality and climate risks. Included in the overall shading is an assessment of the governance structure, rated Fair, Good and Excellent.
In addition, CICERO has developed a new methodology for company assessments by extending the Green Financing Framework to apply to the whole company and equity. CICERO’s company assessments provide insights into the green transition ambitions by adding Light, Medium and Dark Brown shadings to the three green shadings for revenue streams and investments depending on how well they are aligned with a low-carbon, climate resilient future. The assessment also provides investors and lenders with information on possible alignment to the EU taxonomy as well as companies’ environmental governance structure. An assessment of the governance structure is included with the same rating as in the second opinions.

Scandinavian Biogas’ ratings

In August 2020, CICERO completed its second opinion on Scandinavian Biogas and rated the Company’s debt financing Dark Green and a governance score of Good. In November 2020, CICERO allocated a Dark Green shading to all of Scandinavian Biogas’ revenue streams and investments and a governance score of Good. Further, CICERO assesses that Scandinavian Biogas’ activities are likely to be aligned with the EU Taxonomy.

Read here Cicero’s company assessment of Scandinavian Biogas»

2022-07-20 06:30

Q2: Comprehensive agreement for 1 TWh bio-LNG with Alternoil signed, order value of SEK 2.7 billion

Significant events in the second quarter of 2022

Major supply contract worth EUR 2.7 billion has been signed with German LNG distributor Alternoil.
The growth projects in Sweden and Norway are on track and the process of ISCC certification of the plants is progressing.
Klimatklivet has granted SEK 154 million in investment grants for biogas project in Örkelljunga municipality.
Profitability significantly affected by the fact that production aid in Sweden is not paid in the first half of the year but
from 1 July 2022.
Pre-treatment facility in Södertörn acquired for SEK 40 million.
Head of the Swedish operations has been hired and will start his role in early 2023.
Long-term performance-based incentive programme introduced based on AGM decision of 28 April.

FINANCIALS SECOND QUARTER 2022

Energy sold decreased by 11.2% to 82.2 (92.2) GWh. Comparable decrease of 5.3%, 82.2 (86.8) GWh
Net sales totalled SEK 92.8 (96.0) million, representing a decrease of 3.3%.
Total revenue, total revenue, including capitalised work, decreased by 7.5% and totalled to 101.1 (110.2) million.
EBITDA was SEK 3.7 (21.5) million.
Operating EBITDA was SEK 1.1 (21.5) million.
The operating EBITDA margin was 1.2% (20.5%).
Profit/loss after tax was SEK -43.1 (-27.6) million.
Basic and diluted earnings per share was SEK -1.41 (-0.90).
Cash flow from operating activities was SEK 5.8 (19.8) million.

SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD

Scandinavian Biogas updated financial targets for 2024 confirm the EBITDA margin of at least 30 percent, while the production volume is estimated to reach 600 GWh, and total revenues to reach approximately SEK 650 million in 2024. The Group has also set a target for production capacity in 2026 amounting to 1.2 TWh. The Board has decided to explore various financing alternatives, equity or debt financing, for continued growth.
Biogas subsidies will be available again starting in July, after the break in the first half of the year.

This disclosure contains information that Scandinavian Biogas Fuels International AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 20-07-2022 07:30 CET.

For further information, please contact:
Matti Vikkula CEO and President
Mobile +46 (0) 70 597 99 38
E mail matti.vikkula(at)scandinavianbiogas.com

Scandinavian Biogas is a leading Nordic producer of biogas for vehicle fuel and fertilizer. Biogas is CO2-neutral and made from sewage and household, agriculture as well as industrial organic waste. Today Scandinavian Biogas has facilities in Sweden, Norway and Korea. In 2021, the company delivered 366 GWh of energy. Scandinavian Biogas has 100 employees and total net sales of SEK 394 million in 2021. The head office is located in Stockholm and the company is listed on Nasdaq First North. Certified advisor is Erik Penser Bank AB, telephone: +46 (0) 8-463 80 00, certifiedadviser(at)penser.se. www.scandinavianbiogas.com

SBFI Q2 2022 FINAL_ENG

2022-07-20