REPORT FOR THE FOURTH QUARTER AND YEAR ENDED DECEMBER 31, 2010

FOR IMMEDIATE RELEASE Nr. of pages 11
Date: April 28, 2011
London


This report includes unaudited consolidated financial information of Corral Petroleum Holdings AB (publ) (“Corral”) for the fourth quarter of 2010, for the year ended December 31, 2010 and for the comparative periods in 2009. For additional information on the year ended December 31, 2010, please see our Annual Report, available at www.preem.se/english/corral.

Fourth Quarter Financial highlights

  • Sales revenue for the fourth quarter of 2010 amounted to 19,506 MSEK compared to 17,692 MSEK in the fourth quarter of 2009.
  • EBITDA for the fourth quarter of 2010 amounted to 1,049 MSEK compared to 962 MSEK in the fourth quarter of 2009.
  • Operating income for the fourth quarter of 2010 amounted to 792 MSEK compared to an operating income of 713 MSEK in the fourth quarter of 2009.
  • Net income for the fourth quarter of 2010 amounted to 316 MSEK compared to a net income of 149 MSEK in the fourth quarter of 2009.
  • Cash flow from operating activities for the fourth quarter of 2010 was 3,019 MSEK compared to cash flow from operating activities of 633 MSEK in the fourth quarter of 2009.
  • Weighted business refining margin for the fourth quarter of 2010 was 2.90 $/bbl compared to 2.85 $/bbl in the fourth quarter of 2009.

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