Press Releases | Scandinavian Enviro Systems

Interim report Scandinavian Enviro Systems AB (publ) January – September 2020

2020-11-26

Enviro is well-positioned to meet the increased interest in tyre pyrolysis oil.

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 2020

  • 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

Jan-September 2020

  • 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, thomas.sorensson@envirosystems.se
Urban Folcker, Enviro CFO, +46 (0)760-00 13 11, urban.folcker@envirosystems.se
Alf Blomqvist, Chairman of the Board of 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 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.

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