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Q2: Comprehensive agreement for 1 TWh bio-LNG with Alternoil signed, order value of SEK 2.7 billion

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Significant events in the second quarter of 2022

  • Major supply contract worth EUR 2.7 billion has been signed with German LNG distributor Alternoil.
  • The growth projects in Sweden and Norway are on track and the process of ISCC certification of the plants is progressing. 
  • Klimatklivet has granted SEK 154 million in investment grants for biogas project in Örkelljunga municipality.
  • Profitability significantly affected by the fact that production aid in Sweden is not paid in the first half of the year but
    from 1 July 2022.
  • Pre-treatment facility in Södertörn acquired for SEK 40 million.
  • Head of the Swedish operations has been hired and will start his role in early 2023. 
  • Long-term performance-based incentive programme introduced based on AGM decision of 28 April.

FINANCIALS SECOND QUARTER 2022

  • Energy sold decreased by 11.2% to 82.2 (92.2) GWh. Comparable decrease of 5.3%, 82.2 (86.8) GWh
  • Net sales totalled SEK 92.8 (96.0) million, representing a decrease of 3.3%.
  • Total revenue, total revenue, including capitalised work, decreased by 7.5% and totalled to 101.1 (110.2) million.
  • EBITDA was SEK 3.7 (21.5) million.
  • Operating EBITDA was SEK 1.1 (21.5) million.
  • The operating EBITDA margin was 1.2% (20.5%).
  • Profit/loss after tax was SEK -43.1 (-27.6) million.
  • Basic and diluted earnings per share was SEK -1.41 (-0.90).
  • Cash flow from operating activities was SEK 5.8 (19.8) million.

SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD

  • Scandinavian Biogas updated financial targets for 2024 confirm the EBITDA margin of at least 30 percent, while the production volume is estimated to reach 600 GWh, and total revenues to reach approximately SEK 650 million in 2024. The Group has also set a target for production capacity in 2026 amounting to 1.2 TWh. The Board has decided to explore various financing alternatives, equity or debt financing, for continued growth.
  • Biogas subsidies will be available again starting in July, after the break in the first half of the year.

This disclosure contains information that Scandinavian Biogas Fuels International AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 20-07-2022 07:30 CET.

For further information, please contact:
Matti Vikkula CEO and President
Mobile +46 (0) 70 597 99 38
E mail matti.vikkula@scandinavianbiogas.com

Scandinavian Biogas is a leading Nordic producer of biogas for vehicle fuel and fertilizer. Biogas is CO2-neutral and made from sewage and household, agriculture as well as industrial organic waste. Today Scandinavian Biogas has facilities in Sweden, Norway and Korea. In 2021, the company delivered 366 GWh of energy. Scandinavian Biogas has 100 employees and total net sales of SEK 394 million in 2021. The head office is located in Stockholm and the company is listed on Nasdaq First North. Certified advisor is Erik Penser Bank AB, telephone: +46 (0) 8-463 80 00, certifiedadviser(at)penser.se. www.scandinavianbiogas.com

Tags:

biogas Scandinavian Biogas LBG Bio-LNG Matti Vikkula Liquid Biogas

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