Corral Finans AB (publ) Q2 2008

FOR IMMEDIATE RELEASE
Date: August 29, 2008
Stockholm

This report includes unaudited consolidated financial information of Corral Finans AB (publ) (“Corral Finans”), for the second quarter of 2008 and for the comparative period in 2007.

In order to give an informative presentation of the historical performance of our business operations, we also present the unaudited consolidated financial statements of Corral Finans for the six months ended June 30, 2008. Because Corral Finans did not exist for the full comparative period in 2007, we present pro forma consolidated financial information of Corral Finans, which is based on the consolidated financial information of Corral Petroleum Holdings AB for the first quarter of 2007 combined with the consolidated financial information of Corral Finans for the second quarter 2007.

Financial highlights

  • Sales revenue for the second quarter of 2008 amounted to 25,866 MSEK compared to 16,620 MSEK in the second quarter of 2007
  • Operating income for the second quarter of 2008 amounted to 2,405 MSEK compared to 1,852 MSEK in the second quarter of 2007
  • Net income for the second quarter of 2008 amounted to 1,494 MSEK compared to to 1,158 MSEK in the second quarter of 2007
  • Cash flow from operating activities for the second quarter of 2008 was 369 MSEK compared to 1,674 MSEK in the second quarter of 2007
  • Weighted business refining margin for the second quarter of 2008 increased to 8.70 $/bbl compared to 7.92 $/bbl in the second quarter of 2007

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