Interim report Scandinavian Enviro Systems AB (publ) January – September 2020
Enviro is well-positioned to meet the increased interest in tyre pyrolysis oil.
Picture: In the background you can see the tank where the Tyre Pyrolysis Oli (TPO) is being kept before dispatch from the plant in Åsensbruk. With the current mix of End-of-Life-Tyres this oil has a bio-content of approximately 48%.
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.
- Net revenues for the period were MSEK 0.2 (0.2)
- Earnings after tax for the period were MSEK -12.7 (-10.3)
- Earnings per share for the period (before dilution) was SEK -0.02 (-0.03)
- Cash flow for the period after investments was MSEK -10.9 (-8.9)
- Enviro and Michelin prolongs Letter of Intent regarding strategic partnership
- Improved market conditions for pyrolysis oil could strongly increase revenues from Enviro’s plants
- Net revenues for the period were MSEK 1.1 (0.5)
- Earnings after tax for the period were MSEK -36.3 (-31.7)
- Earnings per share for the period (before dilution) was SEK -0.07 (-0.10)
- Cash flow for the period after investments was MSEK -34.0 (-29.0)
- 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
Significant events after end of period
- Enviro expects final partnership agreement with Michelin during the fourth quarter
- Feasibility study investigates conditions for tyre recovery with Enviro’s technology in the UK
- Recovered carbon black from Enviro is introduced in a customer-specific rubber compound from Trelleborg Mixing Forsheda
For further information, please contact:
Thomas Sörensson, CEO of Enviro, +46 (0)735-10 53 43, firstname.lastname@example.org
Urban Folcker, Enviro CFO, +46 (0)760-00 13 11, email@example.com
Alf Blomqvist, Chairman of the Board of Enviro, +46 (0)733 149 700, firstname.lastname@example.org
Mangold Fondkommission AB, +46 (0)8 503 01 550, email@example.com, is Enviro’s Certified Adviser on Nasdaq First North Growth Market Stockholm.
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 26-11-2020 08:30 CET.