Release of Report for Q2 2019 of Corral Petroleum Holdings AB

2019-08-29

RELEASE OF REPORT FOR THE SECOND QUARTER ENDED JUNE 30, 2019 OF CORRAL PETROLEUM HOLDINGS AB

FOR IMMEDIATE RELEASE

Date: August 29, 2019

Stockholm

This report includes unaudited consolidated financial information of Corral Petroleum Holdings AB (publ) (“Corral Petroleum Holdings”) and its consolidated subsidiaries, for the second quarter of 2019 and for the comparative periods in 2018. Note that due to the rounding of figures in the tables to the nearest SEK million, the sum is not always exactly equal to the sum of all components.

Financial Highlights – Second Quarter 2019

  • Sales revenue for the second quarter of 2019 amounted to 22,771 MSEK compared to 23,401 MSEK in the second quarter of 2018.
  • EBITDA (1) for the second quarter of 2019 amounted to 820 MSEK compared to 1,670 MSEK in the second quarter of 2018.
  • Adjusted EBITDA1for the second quarter of 2019 amounted to 454 MSEK compared to 847 MSEK in the second quarter of 2018.
  • Operating profit for the second quarter of 2019 amounted to 442 MSEK compared to an operating profit of 1,413 MSEK in the second quarter of 2018.
  • Net loss for the second quarter of 2019 amounted to 50 MSEK compared to a net profit of 362 MSEK in the second quarter of 2018.
  • Cash flow used in operating activities for the second quarter of 2019 amounted to -6,881 MSEK compared to cash flow used in operating activities of -1,197 MSEK in the second quarter of 2018.
  • Weighted refining margin for the second quarter of 2019 was 3.94 $/bbl compared to 4.65 $/bbl in the second quarter of 2018.

(1) For a reconciliation of our operating profit to EBITDA and EBITDA to Adjusted EBITDA, please see the financial statements section on page 15.

An international conference call for investors and analysts will be held on September 3, 2019 at 3:00 pm CET.

The call-in number is US + 1 212 999 6659, UK +44 (0) 20 3003 2666 and Sweden +46 (0) 8 505 204 24

Meeting code: Corral Q2.

The report for the third quarter of 2019 will be released on November 27, 2019

For further information, please contact:

Amelie Wilson

Investor Relations Manager

Tel: + 46-10-450 1010

Email: amelie.wilson@preem.se

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