REPORT FOR THE FOURTH QUARTER AND YEAR ENDED DECEMBER 31, 2013

FOR IMMEDIATE RELEASE
Date: March 20, 2014
London

This report includes unaudited consolidated financial information of Corral Petroleum Holdings AB (publ) (“Corral Petroleum Holdings”) and its consolidated subsidiaries, for the fourth quarter and year ended December 31, 2013 and for the comparative periods in 2012. Corral Petroleum Holdings’ annual report for the year ended December 31, 2013 will be released on April 24, 2014 and will be available at www.preem.se/english/corral.

Financial highlights

  • Sales revenue for the fourth quarter of 2013 amounted to 17,657 MSEK compared to 25,136 MSEK in the fourth quarter of 2012.
  • EBITDA1 for the fourth quarter of 2013 amounted to -278 MSEK compared to 72 MSEK in the fourth quarter of 2012.
  • Adjusted EBITDA1 for the fourth quarter of 2013 amounted to -213 MSEK compared to 625 MSEK in the fourth quarter of 2012.
  • Operating loss for the fourth quarter of 2013 amounted to 537 MSEK compared to an operating loss of 180 MSEK in the fourth quarter of 2012.
  • Net loss for the fourth quarter of 2013 amounted to 1,651 MSEK compared to a net loss of 174 MSEK in the fourth quarter of 2012.
  • Cash flow used in operating activities for the fourth quarter of 2013 was 364 MSEK compared to cash flow used in operating activities of 3,199 MSEK in the fourth quarter of 2012.
  • Weighted business refining margin for the fourth quarter of 2013 was 1.43 $/bbl compared to 4.76 $/bbl in the fourth quarter of 2012.

The fourth quarter of 2013 was impacted by the planned maintenance turnaround at Preemraff Lysekil during September to November 2013.

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