Preem AB's Interim Report first quarter ended January - March 2025: Continued financial improvement in a normalized market environment

Magnus Heimburg, CEO of Preem, comments: Magnus Heimburg, CEO of Preem, comments: - Our Supply & Refining segment reported an adjusted EBITDA ofSEK 1,188 millionfor the first quarter of 2025, down fromSEK 2,275 millionin the same period last year. The decline in financial performance was primarily driven by a reduction in international refining margins, particularly for diesel and gasoline. - In our Marketing & Sales segment, we saw a continued strong demand for our...

Magnus Heimburg, CEO of Preem, comments:

- Our Supply & Refining segment reported an adjusted EBITDA of SEK 1,188 million for the first quarter of 2025, down from SEK 2,275 million in the same period last year. The decline in financial performance was primarily driven by a reduction in international refining margins, particularly for diesel and gasoline.

- In our Marketing & Sales segment, we saw a continued strong demand for our HVO100, which reached a new market high in March. Consequently, our market share for the month accounted for approximately one third of the Sweden HVO100 market.

- In the fast-changing geopolitical landscape, it is too early to assess the full implications from the imposed US tariffs. Our initial understanding and conclusion are that the direct impact of tariffs on Preem will be limited, states Magnus Heimburg in his closing marks.

- On March 31, a Sale and Purchase Agreement was signed under which VARO Energy acquire 100 percent of the shares in Corral Petroleum Holdings AB. VARO's long-term strategic vision is strongly aligned with our own. The combined entity will deliver greater value to customers, increase resilience across our operations, and make a meaningful contribution to energy security in both Sweden and Europe.

*Adjusted EBITDA - defined as EBITDA adjusted for inventory gains/losses, exchange rate translation differences and for net gain/loss on oil derivatives valued at fair value.
*** Total liquidity - Cash and cash equivalent and undrawn committed facilities.

Read the complete interim report for the first quarter here.

For more information, please contact:
Preem Press Office
[email protected] 
+46 (0)70-450 10 01

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