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Half year report Scandinavian Enviro Systems AB (publ) January – June 2020

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The partnership with Michelin confirms Enviro's technology and commercial potential.

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.

Q2 2020

  • Net revenues for the period were MSEK 0.2 (0.1)
  • Earnings after tax for the period were MSEK -11.9 (-11.4)
  • Earnings per share for the period (before dilution) was SEK -0.02 (-0.03)
  • Cash flow for the period after investments was MSEK -11.4 (-11.4)
  • The company has completed a directed share issue of approximately MSEK 32.5 as part of a strategic partnership with Michelin. Currently, the partnership is considered to contain 4 areas:
    • A development agreement
    • A share investment total of 20 percent in Enviro after the issue (completed)
    • A common project to construct a plant
    • A common delivery agreement between Michelin and Enviro

Jan-June 2020

  • Net revenues for the period were MSEK 0.9 (0.2)
  • Earnings after tax for the period were MSEK -23.6 (-21.4)
  • Earnings per share for the period (before dilution) was SEK -0.05 (-0.07)
  • Cash flow for the period after investments was MSEK -23.1 (-20.1)

Significant events after end of period

  • Enviro and Michelin prolongs Letter of Intent regarding strategic partnership
 

For further information, please contact:
Thomas Sörensson, CEO Enviro, +46 (0)735-10 53 43, thomas.sorensson@envirosystems.se
Urban Folcker, CFO Enviro, +46 (0)760-00 13 11, urban.folcker@envirosystems.se
Alf Blomqvist, Chairman, Enviro, +46 (0)733 149 700, alf@blomqvistunlimited.com

Mangold Fondkommission AB, +46 (0)8 503 01 550, ca@mangold.se, is Enviro’s Certified Adviser on Nasdaq First North Growth Market Stockholm.

Scandinavian Enviro Systems AB
Herkulesgatan 1K
SE-417 01 Gothenburg
info@envirosystems.se
www.envirosystems.se

This information is information that Scandinavian Enviro Systems AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was issued for publication through the agency of the contact persons set out above on August 27, 2020, at 08:30 CEST.

For more information, please contact: 
Thomas Sörensson, CEO Enviro, +46 (0)735-10 53 43, thomas.sorensson@envirosystems.se
Urban Folcker, CFO Enviro, +46 (0)760-00 13 11, urban.folcker@envirosystems.se
Alf Blomqvist, Board Chairman Enviro, +46 733 149 700, alf@blomqvistunlimited.com

Enviro is a company developing, building and operating industrial plants for material recovery from End of Life Tyres (ELT). The company has developed a process, based on a patented technology, where gas generated in the process is heating the tyres in absence of oxygen. This enables the materials in the tyres to decompose and be recovered instead of incinerated. Thus, a sustainable recovery of the resources Carbon black, Oil, Steel and Gas is obtained. The products are used in new products, replacing fossil resources to help the customers reach their sustainability targets. Enviro was founded in 2001, has its head office in Gothenburg and runs its own plant for ELT tyres in Åsensbruk, Sweden. The company is listed on the Nasdaq First North Growth Market with Mangold Fondkommission AB, tel. +46 (0)8 5030 1550, ca@mangold.se, as its Certified Advisor. www.envirosystems.se

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