Scandinavian Biogas Interim Report for the period 1 January – 31 March 2019

”Significant improvement in the Group’s profitability, EBITDA and cash flow during the interim period.”

First quarter in brief

  • The plant at Skogn delivered approximately 2.2 million Nm3 of LBG during Q1, an increase of approximately 45% on a monthly basis as compared with monthly LBG deliveries during fourth quarter 2018
  • Net sales totalled SEK 86.9 million (63.6), an increase of 36.6% due mainly to customer deliveries of liquid biogas (LBG) now being made from the Norwegian plant at Skogn
  • EBITDA was SEK 18.6 million (1.4), an increase of 1,235.1% which is partly due to an SEK 5.0 million (-2.6) contribution to profit by the Norwegian plant at Skogn
  • The Group posted an operating loss of SEK -3.1 million (-12.5)
  • The Group posted a loss after tax of SEK -12.3 million (-22.5)
  • The Group is pursuing a process to conduct a directed share issue of up to SEK 134 million and a rights issue of up to SEK 10 million at the same subscription price as is determined in the directed share issue. In total, the Company intends to issue shares with a value of approximately SEK 144 million

Significant events after the end of the period

  • The plant at Skogn forecasts delivery of approximately 0.9 million Nm3 of LBG during April 2019, as compared with a monthly average of 0.7 million Nm3 for the January–March 2019 period
  • During April 2019 a clear majority of bondholders confirmed their support of the Group’s proposal to waive the adjusted equity/assets ratio requirement for the first and second quarters of 2019 

The interim report for the first quarter 2019 for Scandinavian Biogas Fuels International AB (publ) is now available on www.scandinavianbiogas.com

For further information, contact Matti Vikkula, CEO and president,
+46 70 597 99 38,
matti.vikkula@scandinavianbiogas.com 

The information in this press release is such that Scandinavian Biogas Fuels International AB (publ) must disclose in accordance with the EU Market Abuse Regulation (EU MAR) No. 596/2014. The information was submitted for publication on April 26, 2019, at 08:00 CET.

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