Report for the First Quarter Ended March 31, 2018

This report includes unaudited consolidated financial information of Corral Petroleum Holdings AB (publ) (“Corral Petroleum Holdings”) and its consolidated subsidiaries, for the first quarter of 2018 and for the comparative periods in 2017 and for the other periods indicated. Note that due to the rounding of figures in the tables to the nearest SEK million (MSEK), the sum is not always exactly equal to the sum of all components.

Financial Highlights – First Quarter 2018

  • Sales revenue for the first quarter of 2018 amounted to 20,609 MSEK compared to 18,159 MSEK in the first quarter of 2017.
  • EBITDA for the first quarter of 2018 amounted to 230 MSEK compared to 1,429 MSEK in the first quarter of 2017.
  • Adjusted EBITDA1 for the first quarter of 2018 amounted to 326 MSEK compared to 1,184 MSEK in the first quarter of 2017.
  • Operating loss for the first quarter of 2018 amounted to 22 MSEK compared to an operating profit of 1,182 MSEK in the first quarter of 2017.
  • Net loss for the first quarter of 2018 amounted to 614 MSEK compared to a net profit of 728 MSEK in the first quarter of 2017.
  • Cash flow from operating activities for the first quarter of 2018 amounted to 2,461 MSEK compared to 1,227 MSEK in the first quarter of 2017.
  • Weighted refining margin for the first quarter of 2018 was 3.94 $/bbl compared to 5.49 $/bbl in the first quarter of 2017.

An international conference call for investors and analysts will be held on June 4, 2018 at 3:00 pm CET. The call-in number is US + 1 212 999 6659, UK +44 (0) 20 3003 2666 and Sweden +46 (0) 8 505 204 24 and the meeting code is Corral.

The report for the second quarter of 2018 will be released on August 29, 2018.

For further information, please contact:
Christer Tärndal                                                            
Head of Group Controlling                                          
Tel: + 46 (0)10-450 13 92                                                 
Email: christer.tarndal@preem.se

About Us

We are the largest oil refining company in the Nordic region in terms of capacity. We conduct our business through our wholly owned operating company, Preem, which operates its business through two segments, a Supply and Refining segment and a Marketing and Sales segment. We refine crude oil in Sweden and then market and sell refined products primarily in Sweden and other northwestern European markets, including Scandinavia, France, Germany and the United Kingdom, as well as the United States and, to a lesser extent, other markets.

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