Brief: Scandinavian Biogas' Q1 EBITDA Seen At SEK 4 Mln, Lower Than Planned

Biokraft International AB

11/04/2022 07:50

April 11 (Reuters) - Scandinavian Biogas Fuels International
AB  BIOGAS.ST :
    * SCANDINAVIAN BIOGAS' PROFITABILITY DURING THE FIRST
QUARTER OF
2022 IS SIGNIFICANTLY LOWER THAN PLANNED
    * EBITDA FOR Q1 WILL BE SIGNIFICANTLY LOWER THAN PLANNED AND
IS
ESTIMATED TO BE APPROXIMATELY SEK 4 MILLION
    * LOWER PROFITABILITY IS MAINLY DUE TO TWO FACTORS
    * MAINTENANCE COSTS AT FACILITY IN SÖDERTÖRN HAVE ALSO BEEN
HIGHER
THAN NORMAL
    * PRODUCTION SUBSIDY CONFIRMED BY SWEDISH GOVERNMENT WILL
NOT BE
PAID FOR FIRST HALF OF YEAR, BUT ONLY FROM JULY 2022 AND ONWARDS
    * INCREASED PRICES FOR ENERGY WILL BENEFIT GROUP'S
PROFITABILITY
WHEN NEW CONTRACTS WILL BE SIGNED
    * REASON FOR LOWER Q1: CHANGING MARKET SITUATION HAS PUSHED
UP
ENERGY AND RAW MATERIAL PRICES SHARPLY, AFFECTING SHARE THAT HAS
NOT BEEN PURCHASED WITH PREDEFINED PRICES

Source text for Eikon:  ID:nWkr8gkJfl 
Further company coverage:  BIOGAS.ST 

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