Release of Report for Q4 2018

Report for the Fourth Quarter Ended December 31, 2018

FOR IMMEDIATE RELEASE

Date: March 14, 2019

Stockholm

This report includes unaudited consolidated financial information of Corral Petroleum Holdings AB (publ) (“Corral Petroleum Holdings”) and its consolidated subsidiaries, for the fourth quarter of 2018 and year ended December 2018 and for the comparative periods in 2017. Note that due to the rounding of figures in the tables to the nearest SEK million, the sum is not always exactly equal to the sum of all components.

Financial Highlights – Fourth Quarter 2018

  • Sales revenue for the fourth quarter of 2018 amounted to 22,174 MSEK compared to 19,156 MSEK in the fourth quarter of 2017.
  • EBITDA (1)for the fourth quarter of 2018 amounted to negative 633 MSEK compared to 1,646 MSEK in the fourth quarter of 2017.
  • Adjusted EBITDA (1)for the fourth quarter of 2018 amounted to 1,000 MSEK compared to 888 MSEK in the fourth quarter of 2017.
  • Operating loss for the fourth quarter of 2018 amounted to 900 MSEK compared to a profit of 1,387 MSEK in the fourth quarter of 2017.
  • Net loss for the fourth quarter of 2018 amounted to 1,004 MSEK compared to a net profit of 529 MSEK in the fourth quarter of 2017.
  • Cash flow used in operating activities for the fourth quarter of 2018 amounted to 2,712 MSEK compared to cash flow from operating activities of 380 MSEK in the fourth quarter of 2017.
  • Weighted refining margin for the fourth quarter of 2018 was 4.90 $/bbl compared to 5.00 $/bbl in the fourth quarter of 2017.  

(1) For a reconciliation of our operating profit to EBITDA and EBITDA to Adjusted EBITDA, please see the financial statements section on page 15.

An international conference call for investors and analysts will be held on March 19, 2019 at 3:00 pm CET.

The dial-in number is:

Standard International Access +44 (0) 20 3003 2666

Stockholm +46 (0) 8 50520424

New York +1 212 999 6659

Washington DC Local number +1 202 204 1514

The meeting code is Corral Q4.

The Annual Report 2018 for Corral Petroleum Holdings will be released on April 25, 2019. Investors Call will be held on May 3, 2019 at 3:00 pm CET.

The report for the first quarter of 2019 will be released on May 29, 2019 and investors call is rescheduled to be held on Monday June 3, 2019.

For further information, please contact:
Magdalena Patrón
Investor Relations Manager
Tel: + 46 (0)10-450 10 00
Email: magdalena.patron@preem.se
 


Tags:

About Us

We are the largest oil refining company in the Nordic region in terms of capacity. We conduct our business through our wholly owned operating company, Preem, which operates its business through two segments, a Supply and Refining segment and a Marketing and Sales segment. We refine crude oil in Sweden and then market and sell refined products primarily in Sweden and other northwestern European markets, including Scandinavia, France, Germany and the United Kingdom, as well as the United States and, to a lesser extent, other markets.

Subscribe

Media

Media

Documents & Links