Quarterly report Scandinavian Enviro Systems AB (publ) January – March 2020 | Scandinavian Enviro Systems

Quarterly report Scandinavian Enviro Systems AB (publ) January – March 2020

A quarter of intense negotiations paved the way for cooperation with Michelin.

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.

Jan-March 2020

  • Net revenues for the period were MSEK 0.7 (0.1)
  • Earnings after tax for the period were MSEK -11.7 (-10.0)
  • Earnings per share for the period (before dilution) was SEK -0.03 (-0.04)
  • Cash flow for the period after investments was MSEK -11.7 (-8.7)
  • COVID-19: We currently have no indication of any decisive effect on the company, but due to the significant uncertainty and the ever-changing nature of the situation, it is very hard to predict how for example travel restrictions will affect Enviro in the future. During this challenging time, we follow the development of news in order to be prepared to make any required adjustments.

Significant events after end of period

  • 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

You can find the entire Quarterly report at https://www.envirosystems.se/en/investor/financial-information/.

The picture depicts Enviro’s plant in Åsensbruk. Up close the pelletizing and drying section of our recovered carbon black is to be found.

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, +46 733 149 700, 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 May 19, 2020, at 13:00 CEST.

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