Interim Report Scandinavian Enviro Systems AB (publ) January – September 2021

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Eventful quarter strengthens our position going forward.

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.

Q3 2021

  • Net revenues for the period were MSEK 1.4 (0.2)
  • Earnings after tax for the period were MSEK -11.6 (-12.7)
  • Earnings per share for the period (before dilution) was SEK -0.02 (-0.02)
  • Cash flow for the period after investments was MSEK -14.1 (-10.9)
  • Michelin has retained its ownership to 20% of the shares in Enviro after the conducted directed share issue
  • Enviro supplements documentation for consultation concerning a new plant in Uddevalla
  • Enviro’s recovered oil and carbon black receive ISCC sustainability certification
  • Invitation to Enviro’s virtual Capital Markets Presentation

Jan-Sep 2021

  • Net revenues for the period were MSEK 6.5 (1.1)
  • Earnings after tax for the period were MSEK -38.9 (-36.3)
  • Earnings per share for the period (before dilution) was SEK -0.07 (-0.07)
  • Cash flow for the period after investments was MSEK -39.1 (-34.0)
  • Enviro receives order from Michelin for engineering services worth MSEK 4
  • Enviro and Michelin sign definitive agreements on strategic partnership
  • Enviro announces further details of partnership agreements with Michelin
  • Approval at an extraordinary general meeting concerning final agreements with Michelin
  • Michelin’s new racing tyres has better performance and less climate impact due to recovered carbon black from Enviro
  • Enviro strengthens its capital via a directed issue of MSEK 21.0 before transaction costs
  • Substantial interest as key employees at Enviro subscribe to options as part of incentive scheme
  • Favourable conditions for tyre recovery with Enviro’s technology in the UK
  • Enviro initiates consultation regarding plant on identified industrial site in West Sweden
  • Peter Sandberg Chairman of Enviro’s Nomination Committee

Significant events after end of period

  • Enviro completes a directed new share issue, raising approximately SEK 125 million before transaction costs where Michelin has invested to retain its ownership of 20%.
  • Enviro decides on location and applies for environmental permit for recycling plant in Uddevalla

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For further information, please contact: 
Thomas Sörensson, CEO of Enviro, +46 (0)735-10 53 43,
Urban Folcker, Enviro CFO, +46 (0)760-00 13 11,
Alf Blomqvist, Chairman of the Board of Enviro, +46 (0)733 149 700,

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

Scandinavian Enviro Systems AB 
Herkulesgatan 1K
SE-417 01 Gothenburg

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 18-11-2021 08:30 CET.

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,, as its Certified Advisor.