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.