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Half Year Report January – June 2023

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A quarter with extensive preparatory work ahead of the definitive investment decision regarding Uddevalla.

Q2 2023

  • Net revenues for the period were MSEK 3.6 (1.9)
  • Earnings after tax for the period were MSEK -25.3 (-21.3)
  • Earnings per share for the period (before dilution) was SEK -0.03 (-0.03)
  • Cash flow for the period after investments was MSEK -27.0 (-25.8)
  • Enviro has successfully completed directed share issue of 150 million shares and raises proceeds of SEK 300 million
  • Enviro’s Chairman and CEO represent the company on the board of new joint venture
  • Recovered carbon black from Enviro in the tires as Michelin celebrates 100 years at Le Mans

Jan-June 2023

  • Net revenues for the period were MSEK 7.7 (3.3)
  • Earnings after tax for the period were MSEK -49,7 (-39.1)
  • Earnings per share for the period (before dilution) was SEK -0.07 (-0.06)
  • Cash flow for the period after investments was MSEK -56.0 (-47.6)
  • Enviro receives follow-up order for oil from a leading US oil company
  • Enviro secured financing in the form of an external loan of MSEK 40.
  • Enviro and Antin Infrastructure Partners to create the world’s first large-scale tire recycling group, supported by Michelin

Significant events after end of period

  • Enviro completes key recruitments central to its future expansion

This disclosure contains information that Scandinavian Enviro Systems 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 23-08-2023 08:30 CET.

For further information, please contact:
Thomas Sörensson, CEO Enviro, +46 (0)735-10 53 43, thomas.sorensson@envirosystems.se
Alf Blomqvist, Chairman of the Board Enviro, +46 (0)733-14 97 00, alf@blomqvistunlimited.com

Mangold Fondkommission AB is Enviro’s Certified Adviser on Nasdaq First North Growth Market Stockholm.

Scandinavian Enviro Systems AB
Frihamnen 16B, SE-417 70 Gothenburg
info@envirosystems.se
envirosystems.se

N.B. The English text is an in-house translation of the original Swedish text. Should there be any disparities between the Swedish and the English text, the Swedish text shall prevail.

Scandinavian Enviro Systems contributes to enhanced environmental and economic sustainability using a patented technology for the recovery of valuable raw materials from scrapped and end-of-life products, including tires. The production of new tires using carbon black recovered with Enviro’s technology reduces carbon dioxide emissions by up to 93 per cent compared with the use of virgin carbon black. Enviro has its head office in Gothenburg and a plant for the recycling of end-of-life tires in Åsensbruk. The largest owner is the French tire manufacturer Michelin. Enviro was founded in 2001 and is listed on Nasdaq First North Growth Market. www.envirosystems.se

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