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Interim Report Scandinavian Enviro Systems AB (publ) January – September 2022

24 November 2022 - 08:30

Slowly but surely, the pieces are falling into place for our industrialisation and incipient commercialisation.

Q3 2022

  • Net revenues for the period were MSEK 2.7 (1.4)
  • Earnings after tax for the period were MSEK -19.5 (-11.6)
  • Earnings per share for the period (before dilution) was SEK -0.03 (-0.02)
  • Cash flow for the period after investments was MSEK -24.7 (-14.1)
  • Enviro appoints Staffan Kullberg as new CFO
  • Construction permit application submitted for Enviro’s planned facility in Uddevalla
  • Enviro initiates detailed design stage for its plant in Uddevalla

Jan-Sep 2022

  • Net revenues for the period were MSEK 6.0 (6.5)
  • Earnings after tax for the period were MSEK -58.6 (-38.9)
  • Earnings per share for the period (before dilution) was SEK -0.09 (-0.07)
  • Cash flow for the period after investments was MSEK -72.3 (-39.0)
  • Enviro receives a pyrolysis oil order worth MSEK 2 from a subsidiary of a leading US oil company
  • Enviro receives order for recovered carbon black from a major European tyre manufacturer
  • Sharp increase of interest in Enviro’s recovered materials as a result of the war in Ukraine
  • Enviro granted environmental permit for planned facility in Uddevalla
  • Enviro’s pyrolysis oil approved under REACH - the company is now to execute a MSEK 2 order
  • Enviro launches a new branding platform
  • Michelin presents an even more sustainable racing tyre using Enviro’s recovered carbon black
  • Enviro granted renewed loan of MSEK 6.5 associated with Åsensbruk operations

Significant events after end of period

  • Enviro receives pyrolysis oil order worth MSEK 2 from Preem
  • Michelin unveils the world’s first two tyres approved for road use containing 45% and 58% of sustainable materials, respectively amongst which recovered carbon black from Enviro.
  • Construction permit granted for Enviro’s planned facility in Uddevalla
  • Leading US oil company has made successful production tests with Enviro’s oil
  • Michelin and Bridgestone foresee that demand for up to 1 million tons of recovered carbon black by 2030

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 24-11-2022 08:30 CET.

For further information, please contact:
Thomas Sörensson, CEO Enviro, +46 (0)735-10 53 43, [email protected]
Alf Blomqvist, Chairman of the Board Enviro, +46 (0)733-14 97 00, [email protected]

Mangold Fondkommission AB is Enviro’s Certified Adviser on Nasdaq First North Growth Market Stockholm.

Scandinavian Enviro Systems AB
Frihamnen 16B, SE-417 70 Gothenburg
[email protected]
envirosystems.se/

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.

Scandinavian Enviro Systems contributes to enhanced environmental and economic sustainability using a patented technology for the recovery of valuable raw materials from scrapped and end-of-life products, including tires. The production of new tires using carbon black recovered with Enviro’s technology reduces carbon dioxide emissions by up to 93 per cent compared with the use of virgin carbon black. Enviro has its head office in Gothenburg and a plant for the recycling of end-of-life tires in Åsensbruk. The largest owner is the French tire manufacturer Michelin. Enviro was founded in 2001 and is listed on Nasdaq First North Growth Market. www.envirosystems.se

Provided by: Cision
Nasdaq First North GM Stockholm (Sweden)
Scandinavian Enviro Systems AB
Scandinavian Enviro Systems functions as a recycling company in Sweden. Its technology enables changing the chemical composition and the physical phase of the tire material during the process. The company operates Modular Recycling Facilities for recovering carbon black, oil, steel and gas from waste tires....
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