Nynas reports third quarter 2014
Nynas’ net sales grew to 7,019SEK million (6,500) for the third quarter and to 17,537 SEK million (14,816) for the first nine months of 2014. EBITDA (excl. non-recurring items) amounted to 515 SEK million (356) in Q3 and to 991 SEK million (420) for the first nine months. Both Bitumen and Naphthenics have contributed to this positive development as well as the savings from the company’s efficiency program.
“Third quarter results have exceeded our expectations and have confirmed the positive trend of our business already shown in the first half of this year. The nine month operational result before non-recurring items has been the best in 4 years and underpins the strong recovery of Nynas,” commented Gert Wendroth, President and CEO of Nynas AB.
Other important events in the third quarter 2014
- In September Nynas announced the intent to close its Nynas NV Continental Europe bitumen business. The business has been loss-making during the last years and Nynas sees no immediate realistic option for improvements. Following a consultation process with the employee representative body and the unions, the decision to close was announced on November 18. Discussions regarding the social plan for the employees involved will now commence. Irrespective of this decision Nynas will continue to supply bitumen to its customers in the region demanding Nynas high quality products.
- In the UK an agreement was concluded in September with Imperial Tankers Ltd to take over Nynas bitumen distribution services as per October 1, 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 25 November 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.