Future outlook and new management in Cassandra Oil AB (publ)
Cassandra Oil AB is in discussions and negotiations with an increasing number of stakeholders about future developments that will enable Cassandra Oil to become an important part in the endeavour to create an environmentally friendly circular economy globally. For this reason we see a need to present an economic outlook for the coming years.
At the Annual General Meeting, June 16, 2015 a vision for the future growth was presented.
During the next 6 years 60 processing plants should be implemented. Approximately 30 in Europe and about 10 in the US in 50/50 JV companies as well as around 20 in the rest of the world where Cassandra Oil will have a smaller ownership.
This outlook is based on the current prices relating to oil, carbon black, scrap metals and raw materials for the Cassandra Oil process. Some of the possible environmental subsidies that the JV can benefit from are included in the calculation.
The economic outlook for the coming years is as follows:
|Year||2015 /16||2016 / 17||2017 / 18||2018 / 19||2019 / 20||2020 / 21|
|Profit after depreciation and taxes MSEK||20||80||120||180||220||270|
NOTE! This outlook is published solely for the purpose of enabling Cassandra Oil AB to openly and effectively discuss the future with relevant parties and partners.
The outlook is based on present knowledge and is not a guarantee nor a future budget. Prices for raw materials will alter and so will the prices of the products produced by CASO as well as various environmental subsidies.
Production capacity, endurance and product quality during long term operation has not yet been established.
Purchase of shares in Cassandra Oil AB solely based on the information in this outlook is discouraged and is entirely at the individual's own risk.
Mr Bo Niveman has been appointed new CFO.
Bo Niveman has a solid background from the Swedish industry including Atlas Copco, Sandvik and as CFO of Duroc AB. Bo Niveman has also worked as a consultant for several entrepreneurial companies during his term as a senior consultant at KPMG Management Consulting.
The private placement, which was announced May 25, 2015 has been completed. The issue was oversubscribed and full payment of the amount of 10,770,000 SEK has been received.
For further information, please contact
Anders Olsson, CEO Cassandra Oil AB, tel: +46 761 63 21 00
Bo Niveman, CFO Cassandra Oil AB, tel: +46 709 46 43 80
This is Cassandra Oil AB
Cassandra Oil is a Swedish company which, with the help of new technologies, recoveres oil from hydrocarbon-containing materials, such as used tires, plastic waste, oil sludge, waste oil and, eventually, oil sands, oil shale and electronic scrap. Cassandra Oil's share is listed on Nasdaq First North, Stockholm with the short name CASO with Remium AB as Certified Adviser. The number of shareholders is about 8 000.