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Q3:Strategically strengthened market position and financial position, SEK 326 million in directed new share issue

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Interim report │ January – September 2022
Stockholm October 27, 2022

Significant events in the third quarter of 2022

  • The production capacity target for 2024 has been revised downwards from 700 GWh to 600 GWh. New long-term capacity target for 2026
    is to reach a production capacity of 1.2 TWh.
  • The commissioning of Skogn II in Norway has begun.
  • A long-term incentive programme for employees has been implemented.
  • Application for biogas production subsidy has been submitted for the second half of 2022 and will be applicable for 2023 as well.
  • The order book at the end of the quarter totalled 1.9 TWh and contracts for the supply of raw materials totalled 2.1 TWh.

RESULTS OF THIRD QUARTER 2022

  • Energy sold decreased by 10.9% to 80.4 (90.2) GWh. Adjusted for the fact that in 2021 we closed a pure gas distribution business with a
    turnover of around 5.8 GWh, the decline was 4.5%.
  • Net sales totalled SEK 89.0 (95.4) million, representing a decrease of 6.7%.
  • At SEK 100.4 (111.1) million, total revenue, including capitalised work, decreased by 9.6%.
  • EBITDA was SEK 14.4 (29.0) million.
  • Operating EBITDA was SEK 15.7 (23.3) million.
  • Operating EBITDA margin was 16.3% (23.0%).
  • Profit/loss after tax was SEK -16.2 (-4.9) million.
  • Basic and diluted earnings per share was SEK -0.53 (-0.16).
  • Cash flow from operating activities was SEK 7.8 (27.0) million.

SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD

  • The Board of Directors proposes a directed new share issue of SEK 326 million, subscribed at a premium of 62%. The proposal must be approved at
    an extraordinary general meeting.
  • Notice of the extraordinary general meeting on 27 October 2022 has been published. The meeting will be held at the Clarion Sign Hotel in Stockholm.
  • The Climate Leap has paid SEK 65 million in investment grant for the investment project Stockholm Bio-LNG.
  • The Swedish Energy Agency confirmed on 26 October 2022 that the biogas production subsidy is 30 öre/kWh. The risk of overcompensation however remains.

A short presentation via Teams will be held on October 27 at 10.00. Use this Teamslink to join the meeting or visit Scandinavian Biogas' website for more information.

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 27-10-2022 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

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