We are the largest advance renewable fuels producer in Scandinavia and the largest refiner in the nordics. Our commitment to increasing our renewable fuel production and sales and remaining competitive through the development of profitable renewable projects is a key priority in the realisation of our strategy.
While transforming our business, from now towards our long term goal of befing climate neutral by 2035, we are committed to supplying both renewable and traditional fuels in the best possble way we can, to provide value to customer, society and stakeholders. We create the power to make a difference together.
We do this by focusing on superior performance in refining, distribution and sales.
To better reflect the on-going transition away from petruleum refining, Corral Petroleum Sweden AB change name in 2022 to Preem Holding AB.
The Preem Value Chain
How is value generated by Preem? It all starts with procuring feedstock that the Refining segment can turn into various products in our assets. After products have been refined we distribute them to the surrounding markets, and in the end making sure it reaches consumers or customers so they can generate value by using our products.
Our Supply and Trading division is responsible for procuring feedstock and making sure it reach one of our refineries as efficiently as possible. Feedstock is sourced from the open market, from one of our partners or subsidiaries. Our feedstock is currently dominated in terms of volume by crude oil, but will gradually over time be replaced by various renewable feedstock and are already today contributing significantly to making Preem competitive in the refining market.
Our products reaches consumers and customers through our sale channels. Under the Preem brands our Market and Sales division sell to the Swedish and Norwegian markets and the Supply and Trading division sell into the regional and global markets.
Refining Assets
Our two refineries, Lysekil and Gothenburg, accounts for 80% of the refining capacity in Sweden and 35% of the Nordic refinery capacity. This provides a total refining capacity of around 345,000 barrels per calendar day, which corresponds to 15 percent of Sweden’s total energy consumption. One third of our refined products are sold to the Swedish market which is roughly 50% of the total market capacity. The remaining two-thirds is exported to other Nordic countries, north western Europe and the United States.
2021 Performance
In 2021 we started the development of our largets single project yet on our path to transition away from fossil fuesl production. The SynSat-revamp project was approved by the board in May 2021 and is currently rolling and is on track towards completion in late 2023. In addition to this large scale project, Preem is also investing in three additional, but smaller renewable fuels project. Projects that will come to fruition in 2022 and 2023.
Our financial performance in 2021 have been strong and a fantiasitc step up from the effects of lockdowns during 2020 caused by the pandemic. Adjusted EBITDA increased by 115% reaching SEK 4,209 million. Total sales was SEK 89,592 million for 2021, an increase of 54% from 2020.