Enviro Reveals 2019 Report

Scandanavian Enviro Systems ends 2019 on a positive note with new projects coming and good news on product analysis and markets

Scandinavian Enviro Systems AB Publishes its Year End Report 2019

This is a summary of the highlights of the SES AB year end report. The link to the full report is at the end of this summary.

Q4 2019

• Net revenues for the period were MSEK 0.6 (0.3)

• Earnings after tax for the period were MSEK -13.1 (-10.8)

• Earnings per share for the period (before dilution) was SEK -0.03 (-0.08)

• Cash flow for the period after investments was MSEK -13.0 (-6.1)

• New project with RISE for converting the oil of Enviro to base oil products

• Update regarding plant agreements in the US and Denmark as well as a market update

Jan-December 2019

• Net revenues for the period were MSEK 1.1 (1.1)

• Earnings after tax for the period were MSEK -44.8 (-38.8)

• Earnings per share for the period (before dilution) was SEK -0.13 (-0.32)

• Cash flow for the period after investments was MSEK -42.0 (-25.8)

• Trelleborg Lanka places a serial sales order amounting to a yearly value of around EUR 180,000

• Elysium ApS (which is a possible candidate to become a joint venture with Enviro as co-owner) signs a rental agreement I Denmark for a plant in Nyborg

• A Life Cycle Analysis (LCA) covering Enviro’s recovered carbon black concludes that its creation saves around 80% CO2 emissions compared to production of virgin carbon black

• Enviro signs a term sheet with TreadCraft Carbon LLC regarding a plant for recovering of Carbon Black, oil and steel from ELT (End of Life Tyres)

• Enviro is going to start up a fully owned holding company in the US as part of the establishment of local plants

• The company signs another term sheet with TreadCraft Carbon LLC, this time regarding the terms and conditions for a license agreement

• Enviro develops financing solutions for plants based on international corporate bonds

• Additional capital of around MSEK 48.6 MSEK before transaction costs has been allocated to the Company through the exercise of warrants (TO2)

Significant events after end of period

• Elysium receives an environmental permit with a 4-week possibility to appeal concerning a plant in Nyborg, Denmark

The full report is available here.