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Nynas sales of naphthenic specialty oils increased in Europe and in the Americas in the first quarter of 2016. Net income amounted to SEK 96 million (-110) while lower crude oil prices explained the net sales decrease to SEK 2,210 million (3,208). The takeover of the Harburg refinery was completed, with 157 employees joining Nynas.
"Good demand for naphthenic specialty oils and a slower start into the bitumen season marked the normal seasonally weak first quarter. With bitumen volumes in the first three months only representing around 10 percent of the yearly volume, the first quarter results provide only limited information regarding Nynas' underlying performance," commented Gert Wendroth, President and CEO of Nynas AB.
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Nynas increased its sales volumes by 5 per cent in the fourth quarter and by 7 per cent for the full year, compared to 2016. The operating result for the quarter (EBITDA) amounted to SEK 396 million (44) and for the full year to SEK 1,218 million (1,009).Read more about Nynas reports fourth quarter and full year results 2017