Nynas reports third quarter 2016
In the third quarter, sales volumes for naphthenic specialty oils and bitumen increased with 2 percent compared to last year. Net sales for the second quarter were SEK 3,813 million (4,992) as a consequence of primarily lower oil price levels and a weaker British pound.
THIRD QUARTER SUMMARY
- Net sales decreased to SEK 3,813 million (4,992), as a consequence of lower crude oil prices and a weaker British pound.
- Operating result before depreciation (EBITDA) amounted to SEK 541 million (726).
- Net income amounted to SEK 178 million (409).
- Harburg North side distillation unit in operation since the first week of August.
“The third quarter was a difficult one for Nynas and financial performance remained below expectations. This is due to lower margins and the effects of the delayed Harburg refinery start-up becoming fully visible. However, in line with our strategy, we managed to grow the overall sales volumes of naphthenic specialty oils with 8% above the equivalent period in 2015,” commented Gert Wendroth, President and CEO of Nynas AB.
For further information, please contact:
Hans Östlin, Communications Director Nynas AB
Email: hans.ostlin@nynas.com
Tel.: +46 (0)708 93 19 75
www.nynas.com
The information is submitted for publication on November 18, 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.