Nynas reports first quarter 2017
Both the naphthenics and bitumen business showed a good start into the year even though the bitumen season in the Nordic countries had not started yet. Operating result before depreciation (EBITDA) amounted to SEK 151 million, compared to SEK 51 million last year adjusted for a one-off discontinued tolling agreement of SEK 262 million.
“After a difficult year in 2016 the first quarter of 2017 showed the first signs of improvement. Demand was strong for both the naphthenics and bitumen business and margins for our naphthenic specialty oils improved compared to last year,” commented Gert Wendroth, President and CEO of Nynas AB.
FIRST QUARTER SUMMARY
- Total product sales volumes increased by 8 per cent compared to the first quarter 2016.
- Net sales for the first quarter reached SEK 2,570 million (2,210), as a consequence of higher oil price levels and higher sales volumes compared to the first quarter of 2016.
- Operating result before depreciation (EBITDA) amounted to SEK 151 million (313). The first quarter of 2016 includes an income compensation of SEK 262 million for a discontinued tolling agreement.
- Decision made to invest in an emulsion plant and additional tank capacity in Drammen, Norway.
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 May 12, 08:00 CET.
Nynas is a different kind of oil company – we want to use oil, not burn it.
With around 1000 employees, production facilities in Europe and South America as well as offices in over 30 countries, Nynas is dedicated to researching, producing and supplying specialty naphthenic oils and bitumen for a growing global market. Together with our customers, we have the know-how to find new applications and meet new challenges that can help shape society.
We take oil further to bring value to customers and the world we live in.