Corral Petroleum Holdings AB (publ) Q4 2011

FOR IMMEDIATE RELEASE
Date: March 30, 2012
London

This report includes unaudited consolidated financial information of Corral Petroleum Holdings AB (publ) (“Corral Petroleum Holdings”) and its consolidated subsidiaries, including Preem AB (publ) (“Preem”), for both the fourth quarter of 2011 and for the year ended December 31, 2011, along with the comparative periods in 2010. Corral Petroleum Holdings’ annual report for the year ended December 31, 2011 will be released on April 27, 2012 and will be available at www.preem.se/english/corral.

Financial highlights

  • Sales revenue for the fourth quarter of 2011 amounted to 24,301 MSEK compared to 19,506 MSEK in the fourth quarter of 2010.
  • EBITDA for the fourth quarter of 2011 amounted to negative 58 MSEK compared to 1,049 MSEK in the fourth quarter of 2010.
  • Adjusted EBITDA1 for the fourth quarter of 2011 amounted to 310 MSEK compared to 202 MSEK in the fourth quarter of 2010.
  • Operating loss for the fourth quarter of 2011 amounted to 309 MSEK compared to an operating profit of 792 MSEK in the fourth quarter of 2010.
  • Net loss for the fourth quarter of 2011 amounted to 490 MSEK compared to a net income of 316 MSEK in the fourth quarter of 2010.
  • Cash flow used in operating activities for the fourth quarter of 2011 was 319 MSEK compared to cash flow from operating activities of 3,019 MSEK in the fourth quarter of 2010.
  • Weighted business refining margin for the fourth quarter of 2011 was 3.43 $/bbl compared to 2.90 $/bbl in the fourth quarter of 2010.

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