Interim Report Third Quarter Ended July - September 2025: Strong Financial Result – Despite Turnaround at the Lysekil Refinery

Preem Holding reported an improvement in adjusted EBITDA, reaching SEK 1,542 million in the third quarter, up from SEK 302 million in the corresponding period in 2024. The improved results were mainly generated by improved margins on diesel and renewables as well as higher utilization at our Gothenburg refinery. The third quarter was also impacted by the scheduled turnaround at the refinery in Lysekil.

Key Figures in summary, July-September 2025

• Sales for the third quarter of 2025 amounted to SEK 26,089 million compared to SEK 29,542 million for the third quarter of 2024.
• Adjusted EBITDA* totaled SEK 1,542 million for the third quarter of 2025 compared to SEK 302 million for the same period last year.
• Net profit amounted to SEK 796 million for the third quarter 2025, compared to SEK -1,846 million for the same period 2024.
• Cash flow from operating activities, before taxes and changes in working capital, for the third quarter of 2025 amounted to SEK 1,137 million compared to SEK -810 million for the same period 2024.
• Net financial items for the third quarter of 2025 amounted to SEK -148 million compared to SEK -240 million for the third quarter of 2024.
• Total liquidity*** amounted to SEK 11,191 million by September 30, 2025, compared to SEK 15,312 million by September 30, 2024.

Magnus Heimburg, CEO of Preem, comments:

“The market environment in Europe strengthened, supported by summer driving season, refinery outages and global autumn refinery maintenance season. Due to supportive developments in biofuel regulations, the market for renewables improved. European margins on diesel, gasoline, and renewables trended upwards during the quarter and stayed at healthy levels compared to long-term historical averages.”

“Our Supply & Refining segment delivered an adjusted EBITDA of SEK 1,484 million for the third quarter of 2025, up from SEK 137 million in the corresponding period last year. This improvement was primarily driven by stronger product margins for diesel and gasoline, as well as higher renewable margins.”

“During the third quarter our Marketing & Sales segment reported an EBITDA of SEK 313 million, compared to SEK 329 million in the same period last year. The decrease was primarily attributable to a one-off adjustment regarding compensation for a site closure that benefited the third quarter prior year. At the same time, we continued to expand our B2B customer base in Norway, which contributed to increased sales volumes during the quarter.”

“I am also glad to announce that we set a new record for our renewable production, reaching a production of 247 000 cubic meters, surpassing the previous record of 233 000 cubic meters produced during one quarter.”

*Adjusted EBITDA - defined as EBITDA adjusted for inventory gains/losses, exchange rate translation differences and for net gain/loss on oil derivatives valued at fair value.

** Total liquidity - Cash and cash equivalent and undrawn committed facilities.

Read the complete interim report for the third quarter here.

For more information, please contact:
Preem Press Office
press@preem.se
+46 (0)70-450 10 01

PREEM is Sweden’s largest fuel company. Our vision is to lead the transition toward a sustainable society. By 2030, Preem will produce 5 million cubic meters of renewable fuels. Preem’s two refineries have a refining capacity of over 18 million cubic meters per year. We refine and sell fuel, heating and lubricating oil as well as other products to companies and individuals. Most of our products, almost 80 percent, are exported to the international market, mainly to northwestern Europe. We have a nationwide service network with circa 500 filling stations for private and commercial traffic. Preem AB has around 1,600 employees, of which 1,100 work at our refineries. In 2024, Preem’s turnover was circa SEK 131 billion.