Corral Finans AB (publ) Q1 2008

FOR IMMEDIATE RELEASE
Date: May 30, 2008
Stockholm

This report includes unaudited financial information of Corral Petroleum Holdings AB, the direct subsidiary of Corral Finans AB (publ) (“Corral Finans”), for the first quarter of 2007. Because Corral Finans did not exist during the comparative period of 2007, in order to give an informative presentation of the historical performance of our business operations, we present the unaudited consolidated financial statements of Corral Petroleum Holdings AB for the first quarter of 2007.

Financial highlights

  • Sales revenue for the first quarter of 2008 amounted to 18,818 MSEK compared to 13,903 MSEK in the first quarter of 2007
  • Operating income for the first quarter of 2008 amounted to 1,092 MSEK compared to 542 MSEK in the first quarter of 2007
  • Net income for the first quarter of 2008 amounted to 934 MSEK compared to loss of 204 MSEK in the first quarter of 2007
  • Cash flow from operating activities for the first quarter of 2008 was 1,226 MSEK compared to negative 984 MSEK in the first quarter of 2007
  • Weighted business refining margin for the first quarter of 2008 declined slightly to 5.13 USD/bbl compared to 5.20 USD/bbl in the first quarter of 2007

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