REPORT FOR THE SECOND QUARTER AND SIX MONTHS ENDED JUNE 30, 2014

FOR IMMEDIATE RELEASE
Date: August 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 second quarter and six months ended June 30, 2014 and for the comparative period in 2013.

Financial highlights

  • Sales revenue for the second quarter of 2014 amounted to 23,279 MSEK compared to 22,219 MSEK in the second quarter of 2013.
  • EBITDA1 for the second quarter of 2014 amounted to 648 MSEK compared to 67 MSEK in the second quarter of 2013.
  • Adjusted EBITDA2 for the second quarter of 2014 amounted to 382 MSEK compared to 558 MSEK in the second quarter of 2013.
  • Operating profit for the second quarter of 2014 amounted to 385 MSEK compared to an operating loss of 183 MSEK in the second quarter of 2013.
  • Net loss for the second quarter of 2014 amounted to 383 MSEK compared to a net loss of 767 MSEK in the second quarter of 2013.
  • Cash flow used in operating activities for the second quarter of 2014 was -1,290 MSEK compared to cash flow from operating activities of 2,915 MSEK in the second quarter of 2013.
  • Weighted business refining margin for the second quarter of 2014 was 3.21 $/bbl compared to 4.60 $/bbl in the second quarter of 2013.

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