During 2011, Nynas also reported the takeover of the Shell refinery outside Hamburg, Germany, which is expected to increase capacity for naphthenic specialty oils by 30 percent.
Key figures 2011 (2010)
- Net sales MSEK 23 223 (MSEK 20 579)
- Operating result MSEK 586 (MSEK 681)
- Result after financial items MSEK 454 (MSEK 610)
- Equity ratio 35% (39%)
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. Among other investments, construction of a new sulphur recovery unit at the Nynäshamn refinery was initiated during the year. Together with other investments, this means that over a five-year period Nynas will invest more than SEK 2 billion in Nynäshamn alone to strengthen the refinery's operations.
In late 2011, a 25-year leasing agreement was signed that, subject to EU approval, will entail Nynas' takeover of the Shell refinery outside Hamburg, Germany. This will increase the processing capacity for naphthenic specialty oils by 30 percent, which secures continuous supply in order to meet Nynas' customers growing demand within the segment.
Nynas AB's Annual meeting will be held on 20 June, 2012.
For more information
Please contact Hans Östlin, Communications Director, phone +46 708-93 19 75, read more under Facts & figures, and download the Nynas Annual Report 2011.