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Nynas reports fourth quarter and full year results 2015

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Nynas increased sales volumes by 8 percent in 2015. Net income in 2015 increased to SEK 346 million (279). The key activity in the fourth quarter was the turnaround of the southern part of the Harburg refinery and the final takeover of the northern part, with another 157 employees joining Nynas.

“The final quarter showed a healthy performance with continued volume growth in both business areas. The full year result is mirroring the operational improvements done and confirming the 2014 turnaround,” commented Gert Wendroth, President and CEO of Nynas AB.

FOURTH QUARTER SUMMARY

  • Total sales volumes increased by 3 percent for comparable units compared to previous year.
  • Net sales decreased to SEK 3,141 million (4,985) as a consequence of 43 percent lower crude oil prices compared to last year.
  • Operating result (EBITDA) excluding non-recurring items amounted to SEK 265 million (345), including unrealized hedge result of SEK -8 million (488) and inventory write down of SEK -41 million (-219).
  • Strong seasonal cash flow from operations.

FULL YEAR SUMMARY

  • Total sales volumes increased by 8 percent for comparable units compared to previous year.
  • Net sales decreased to SEK 16,248 million (22,522), as a consequence of 47 percent lower crude oil price compared to last year.
  • Operating result (EBITDA) excluding non-recurring items amounted to SEK 1,265 million (1,336), including unrealised hedge result of SEK 76 million (510) and inventory write down of SEK -41 million (-219).
  • Cash flow from operating activities increased to SEK 1,763 million (534) mainly as an effect of lower crude oil price.
  • Net income was positive with SEK 346 million (279).


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 26 February 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 1000 employees; we maintain production facilities in Europe and South America and have offices in more than 30 countries. All this generates approximately € 1.6 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.

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