2020-11-26 | Regulatory

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

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… Read More

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.

Enviro is a company developing, building and operating industrial plants for material recovery from End of Life Tyres (ELT). The company has developed a process, based on a patented technology, where gas generated in the process is heating the tyres in absence of oxygen. This enables the materials in the tyres to decompose and be recovered instead of incinerated. Thus, a sustainable recovery of the resources Carbon black, Oil, Steel and Gas is obtained. The products are used in new products, replacing fossil resources to help the customers reach their sustainability targets. Enviro was founded in 2001, has its head office in Gothenburg and runs its own plant for ELT tyres in Åsensbruk, Sweden. The company is listed on the Nasdaq First North Growth Market with Mangold Fondkommission AB, tel. +46 (0)8 5030 1550, ca@mangold.se, as its Certified Advisor. www.envirosystems.se

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Scandinavian Enviro Systems AB
Frihamnen 16B
417 70 Gothenburg