Scandinavian
The lower profitability is mainly due to two factors. Firstly, the production subsidy confirmed by the Swedish government will not be paid for the first half of the year, but only from
Maintenance costs at the facility in Södertörn have also been higher than normal. The extensive refurbishment that is now being carried out at the facility is partly aiming to make the facility more robust and reducing maintenance needs. Finally, the Group has decided to cancel a planned acquisition, and during the quarter related transaction costs are reported.
The confirmed production subsidy is seen as positive for market development and shows that the Swedish Government sees increased biogas production as an essential part of the work to reduce dependence on fossil energy. The increased prices for energy will also benefit the Group's profitability when new contracts will be signed.
The report for the first quarter of 2022 will be published according to plan on
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Scandinavian
https://news.cision.com/scandinavian-biogas-fuels-international-ab--publ-/r/scandinavian-biogas--profitability-during-the-first-quarter-of-2022-is-significantly-lower-than-plan,c3543823
https://mb.cision.com/Main/1925/3543823/1562590.pdf
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