Press release interim report Q3

Solør Bioenergy Group continues its operational improvements during the third quarter 2016 compared to the same period last year
• The third quarter of 2016 was characterized by substantially warmer weather in comparison to the same period during the previous year.
• Despite the warmer weather, net sales increased by 2 percent compared with last year and amounted to SEK 122 M compared to SEK 120 M last year. For segment district heating net sales increased by 1 percent compared with last year, amounting to SEK 91 M compared to SEK 90 M last year.
• Consolidated gross contribution increased by 27 percent to SEK 89 M (70), mainly as a consequence of higher margins due to operational improvements such as lower raw material costs.
• EBITDA was at SEK 7 M compared to SEK ­14 M last year. The increase in EBITDA is mainly attributable to the higher gross contribution.
• Profit after tax amounted to SEK ­100 M compared to SEK ­6 M last year. The difference compared with last year is mainly related to non­cash effective net foreign currency exchange losses during the third quarter 2016 and recognition of deferred tax assets on tax losses carryforward during the same period last year.

Download PDF