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FINANCIAL STATEMENT JAN–DEC 2015

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Sale concluded of business in Compressor Technology and Waste Heat Recovery – new strategy launched

  • Sale concluded of business activities within Compressor Technology and Waste Heat Recovery for SEK 400 million, capital gains of SEK 167.2 million for Group
  • Extensive review completed for remaining business – new strategy launched
  • New strategy including reassessment of remaining business and assets leads to impairment of financial assets by SEK 23.6 million and other costs of SEK 86.9 million, of which SEK 60.6 million is goodwill
  • Deferred tax asset impaired to 0, net effect on Group earnings of SEK 30.8 million. Tax loss carryforwards in Sweden amount to SEK 430 million
  • Savings programme initiated for bioenergy and parent company, expected to produce annual savings of up to SEK 25 million from end of 2016
  • Good level of received orders for bioenergy projects in the UK

Q1-4, JANUARY–DECEMBER 2015, REMAINING BUSINESS

  • Net sales amounted to SEK 194.4 million (194.9 m)
  • Operating result (EBIT) was SEK 20.9 million (16.8 m)
  • Loss before tax was SEK 10.1 million (14,1 m)
  • Loss after tax was SEK 41.7 million (12.8 m)
  • Earnings per share SEK –0.11 (0.03)

Q4, OCTOBER–DECEMBER 2015, REMAINING BUSINESS

  • Net sales amounted to SEK 44.7 million (57.7 m)
  • Operating result (EBIT) was SEK 45.4 million (6.1 m)
  • Profit before tax was SEK 19.6 million (4.5 m)
  • Loss after tax was SEK 12.2 million (3.2 m)
  • Earnings per share SEK –0.03 (0.01)

EVENTS AFTER THE CLOSING DATE

  • Changes within bioenergy, notice of dismissal to staff in Sweden, reserve of SEK 10 million in Q1 2016 established to cover lay-offs
  • Decision taken to close down and decommission Saxlav AB (formerly Saxlund Bioenergy AB)
  • Hotab Biosystem AB acquired, purchase amount was SEK 1 million
  • Board calls Extra General Meeting of shareholders on 23 March to decide change of company name, to proposed Trention AB, Board also proposes reduction in share capital, a reverse share split of 100:1 and seeks mandate for share buy-back programme
  • Board adopts new finance policy

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