Facts & figures Nynas has changed considerably since its foundation over 80 years ago. The company began life as a Swedish oil company, manufacturing everything from petrol and diesel to heating oil and lubricants, but is now an international group with focus on specialty oil products in specific markets. This has proved to be a successful concept given that Nynas is one of the leading companies in the world in the naphthenic speciality oils area and one of Europe's largest suppliers of bitumen. What happened in 2011? The crude oil prices increased gradually from a level of USD 95/bbl in the beginning of the year to about USD 110/bbl at the end of the year, which affected Nynas' working capital negatively. Nynas has also faced challenges in the sales of bitumen used for asphalt surfaces due to the budget crises throughout Europe, but Nynas instead experienced an increased demand for its naphthenic specialty oils. Despite the strong market turbulence, Nynas has been well equipped compared to other industries. Sound cost control led to the possibility of investments that strengthens Nynas' outlooks. Our operating result for the year was SEK 586 million, while sales reached SEK 23.2 billion. Nynas Annual report 2011 Nynas Annual report 2010Nynas Annual report 2009 Nynas Annual report 2008 Nynas Annual report 2007 MSEK 2011 2010 Sales 23,223 20,579 Operating result 586 681 Result after financial items 454 610 Net profit 313 421 Cash flow before financing activities -1,343 -322 Capital expenditure, gross 907 522 Return on equity, % 9 14 Equity to assets ratio, % 35 39 Interest-bearing debt 3,942 2,590 Average number of employees 871 866