Nynas reports first quarter 2015
Nynas’ net sales amounted to SEK 3,208 million (4,160) for the first quarter of 2015. Volumes increased in both Naphthenics and Bitumen. Margins were somewhat depressed as Nynas still sells products manufactured with higher raw material costs compared to today.
“Given the seasonality of our bitumen business, the first quarter results only have limited informative value for Nynas’ underlying business performance. In total, our volumes were unchanged. We have managed to compensate for the lost volumes from the closure of our Continental Europe bitumen business, thanks to the increased naphthenic volumes and also increased volumes for bitumen in spite of the winter season,” commented Gert Wendroth, President and CEO of Nynas AB.
FIRST QUARTER SUMMARY
- Net sales decreased to SEK 3,208 million (4,160), negatively impacted by the dramatic drop in oil price continuing in January.
- Total volume excluding fuel was unchanged. Volume increased in Naphthenics and Bitumen, compensating for the lost volume from the closure of the Continental Europe bitumen business.
- Operating result before depreciation (EBITDA) excluding non-recurring items amounted to SEK 14 million (75).
- Net income was as expected negative with SEK -110 million (-90) due to the normal seasonal impact from the bitumen market.
For further information please contact:
Hans Östlin, Communications Director Nynas AB
Tel.: +46 (0)708 93 19 75
The information is submitted for publication on 13 May at 08:00 CET.
Nynas is a different kind of oil company
Our business is specialised oil applications – we use oil to create sustainable value. Within our field of specialisation, we’re a world leader. We have 950 employees; we maintain production facilities in Europe and South America and have offices in more than 30 countries. All this generates approximately € 2.2 billion in turnover. We collaborate with our customers to continuously improve their products and processes through the unique properties of our specialty oils. That’s what we call – Taking oil further.