Report for the first quarter ended March 31, 2014

FOR IMMEDIATE RELEASE
Date: May 27, 2014
London

This report includes unaudited consolidated financial information of Corral Petroleum Holdings AB (publ) (“Corral Petroleum Holdings”) and its consolidated subsidiaries, for the first quarter of 2014 and for the comparative period in 2013.

Financial highlights

  • Sales revenue for the first quarter of 2014 amounted to 20,547 MSEK compared to 21,652 MSEK in the first quarter of 2013.
  •  EBITDA1 for the first quarter of 2014 amounted to -72 MSEK compared to 277 MSEK in the first quarter of 2013.
  •  Adjusted EBITDA1 for the first quarter of 2014 amounted to 101 MSEK compared to 532 MSEK in the first quarter of 2013.
  •  Operating loss for the first quarter of 2014 amounted to 329 MSEK compared to an operating profit of 33 MSEK in the first quarter of 2013.
  •  Net loss for the first quarter of 2014 amounted to 560 MSEK compared to a net loss of 187 MSEK in the first quarter of 2013.
  •  Cash flow from operating activities for the first quarter of 2014 was 1,831 MSEK compared to cash flow from operating activities of 2,778 MSEK in the first quarter of 2013.
  •  Weighted business refining margin for the first quarter of 2014 was 2.33 $/bbl compared to 4.61 $/bbl in the first quarter of 2013.

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