Corral Petroleum Holdings Q3 2014

FOR IMMEDIATE RELEASE
Date: November 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 three and nine months ended September 30, 2014 and for the comparative period in 2013.

Financial highlights

  • Sales revenue for the third quarter of 2014 amounted to 21,989 MSEK compared to 17,877 MSEK in the third quarter of 2013.
  • EBITDA1 for the third quarter of 2014 amounted to -34 MSEK compared to 727 MSEK in the third quarter of 2013.
  • Adjusted EBITDA1 for the third quarter of 2014 amounted to 845 MSEK compared to 133 MSEK in the third quarter of 2013.
  • Operating loss for the third quarter of 2014 amounted to 299 MSEK compared to an operating profit of 479 MSEK in the third quarter of 2013.
  • Net loss for the third quarter of 2014 amounted to 1,225 MSEK compared to a net profit of 442 MSEK in the third quarter of 2013.
  • Cash flow from operating activities for the third quarter of 2014 was 1,414 MSEK compared to cash flow used in operating activities of 2,944 MSEK in the third quarter of 2013.
  • Weighted business refining margin for the third quarter of 2014 was 5.12 $/bbl compared to 2.06 $/bbl in the third quarter of 2013.

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