Nynas reports fourth quarter and full year results 2017
Nynas increased its sales volumes by 5 per cent in the fourth quarter and by 7 per cent for the full year, compared to 2016. The operating result for the quarter (EBITDA) amounted to SEK 396 million (44) and for the full year to SEK 1,218 million (1,009).
“The overall business environment was good in 2017 with sales revenues and margins for naphthenic specialty oils well above the level seen in the previous year. Our bitumen sales also had a strong development in key markets,” commented Gert Wendroth, President and CEO of Nynas AB.
FOURTH QUARTER SUMMARY
- Total product sales volumes increased by 5 per cent compared to the fourth quarter 2016.
- Net sales increased to SEK 3,501 million (3,184), as a consequence of higher oil prices and higher sales volumes compared to the fourth quarter of 2016.
- Operating result before depreciation (EBITDA) amounted to SEK 396 million (44), excluding extraordinary non-recurring items of SEK -220 million (-9).
- Inventory volume decreased but value increased due to 24 per cent higher oil price levels.
FULL YEAR SUMMARY
- Total product sales volumes increased by 7 per cent compared to the previous year.
- Net sales increased to SEK 14,990 million (12,525), as a consequence of higher oil prices and higher sales volumes.
- Operating result before depreciation (EBITDA) amounted to SEK 1,218 million (1,009), excluding extraordinary non-recurring items of SEK -266 million (-147).
- Net income was positive with SEK 10 million (75).
- Investment initiated in a bitumen PMB plant and additional tank capacity in Drammen, Norway.
- Nynas successfully issued additional senior unsecured bonds of SEK 450 million within its existing bond loan, now utilising the total frame amount of SEK 1,1 billion.
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 February 23, 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.