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