Nynas reports second quarter 2014
Nynas’ net sales grew to 6,364 SEK million (5,398) for the second quarter and to 10,491 SEK million (8,312) for the first six months of 2014. EBITDA (excl. non-recurring items) amounted to 402 SEK million (132) in Q2 and to 476 SEK million (63) for the first half year. Both business segments, Naphthenics and Bitumen, contributed to this positive development.
“Following two disappointing years, we are very proud to report significantly improved financial results for the first half of 2014. Even though the economic environment remained fragile with political tensions in many regions of the world, as well as volatile oil prices that impacted our raw material and finished product prices, we have seen positive developments in many of the markets we are active in,” commented Gert Wendroth, President and CEO of Nynas AB.
Other important events, January - June 2014
- Nynas takes on full control and responsibility for the base oil manufacturing plant at the Harburg refinery in Germany.
- Nynas starts to convert its bitumen refinery in Dundee, Scotland, into a bitumen upgrading and distribution terminal.
- A long-term contract is signed with the Linde Group for the on-site supply of hydrogen at Nynas’ refinery in Harburg, Germany.
- Gert Wendroth is appointed new President and CEO of the Nynas Group.
- Nynas acquires a bitumen depot in Drammen, Norway.
- Nynas successfully launches a four-year SEK 650 million corporate bond in order to refinance an existing US private placement with maturity in October 2014.
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 29 August 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.