Preem Holding closed 2022 on a strong note in a market environment characterized by geopolitical tensions and macroeconomic disturbance. An improved international product margins on diesel and a weaker Swedish krona currency rate had a positive impact on the result. This was, to some extent, offset by the negative effects from the planned maintenance work at the Lysekil refinery.
Key Figures in summary, October-December 2022
- Sales for the fourth quarter 2022 amounted to SEK 38,240 million compared to SEK 26,306 million for the fourth quarter 2021.
- Net financial items for the fourth quarter 2022 amounted to SEK 48 million compared to negative SEK 641 million for the fourth quarter 2021.
- Net profit amounted to SEK 265 million for the fourth quarter 2022, compared to SEK 573 million in net profit for the same period 2021.
- Cash flow from operating activities, before changes in working capital, for the fourth quarter in 2022 amounted to SEK 633 million compared to SEK 2,252 million the same period 2021.
“The market environment continued to be characterized by geopolitical tensions and macroeconomic disturbance during the fourth quarter. Our main focus during this period was to finalize the planned maintenance shutdown at our Lysekil refinery. Positively, most of the refinery was back in operation at the end of October according to plan.” says Magnus Heimburg, CEO of Preem.
“Our Supply & Refining segment once again delivered a strong contribution to our overall result. Increased production costs were more than compensated by improved international product margins on diesel. The weaker Swedish krona currency rate also had a positive impact on the result.”, Magnus Heimburg, continues.
“Our Marketing & Sales segmented reported a weaker result during the quarter compared to same period last year due primarily to lower demand in the retail segment. Cash flow from operations amounted to SEK 633 million for the fourth quarter.”, Magnus Heimburg, concludes.
For more information, please contact:
Preem Press Office
press@preem.se
+46 (0)70-450 10 01