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2023-08-24

Pressmeddelande

Interim Report Second Quarter ended 30 June 2023

Preem Holding delivers a solid quarterly result underpinned by a well-balanced focus on delivering the green transition plan whilst running safe and reliable operations. Geopolitical and macroeconomic uncertainties continue, however Preem has proven its ability to manage the situation and concludes a historically strong financial position.

Key Figures in summary, April-June 2023 

  • Sales for the second quarter 2023 amounted to SEK 32,756 million compared to SEK 48,054 million for the second quarter 2022.  

  • Adjusted EBITDA totaled SEK 2,108 million for the second quarter of 2023 compared to SEK 7,565 million for the same period last year.   

  • Net profit amounted to SEK 850 million for the second quarter 2023, compared to SEK 5,122 million in net profit for the same period 2022.  

  • Cash flow from operating activities, before changes in working capital, for the second quarter in 2023 amounted to SEK 1,421 million compared to SEK 6,970 million the same period 2022.   

  • Net financial items for the second quarter 2023 amounted to negative SEK 383 million compared to negative SEK 1,586 million for the second quarter 2022.  

  • Total liquidity amounted to SEK 16,081 million by June 30, 2023, compared to SEK 11,543 million by June 30, 2022.  

“Halfway into 2023, Preem has proven its ability to manage the geopolitical and macroeconomic environment and delivers a solid quarterly result underpinned by a well-balanced focus on delivering the green transition plan whilst running safe and reliable operations. And thanks to the extraordinary free cash flow over the last quarters, Preem is in a historically strong financial position.” Magnus Heimburg, CEO of Preem. 

“Our Supply & Refining segment once again delivered a strong contribution to our result. The overall availability of our two refineries was high during the quarter. As expected, average refining margins did however decrease compared to the same period last year, although gasoline margins held up well during the quarter”, Magnus Heimburg continues. 

“Our Marketing & Sales segment came in at a slightly lower result in comparison to the corresponding quarter previous year. The result was negatively impacted by lower volumes in the Retail segment which however were partly offset by increased volumes and favorable margins for our Energy segment”, Magnus Heimburg, concludes. 

For more information, please contact: 
Preem Press Office 
press@preem.se 
+46 (0)70-450 10 01