STENA AB issues a preliminary trading update for full year 2022

Gothenburg, Sweden, January 25, 2023

Stena AB (the “Company”) one of the largest privately owned companies in Sweden, hereby issues a trading update.

Based upon preliminary, unaudited financial information, the Company believes that its consolidated EBITDA[1] for 2022 will be approximately SEK 14 billion, compared to SEK 9 billion for 2021 and EBITDA from operations[2] for 2022 will be approximately SEK 12.6 billion, compared to SEK 7 billion for 2021.  The Company expects that EBITDA for the full year 2022 would reflect the continued strong performance of the business in line with last reported results for the nine months ended September 30, 2022.

The Company has a strong liquidity position. As of December 31, 2022, the Company had a total available liquidity of approximately SEK19 billion,  comprising of cash on balance sheet, existing undrawn credit facilities and investments and marketable securities.  The Company’s credit facilities include the Company’s new five year €515 million multicurrency revolving credit facility (the “RCF”) (which replaced the Company’s previous $625 million revolving credit facility) and a $100 million standby facility (the “Standby Facility”) signed in December 2022 with a maturity in December 2027. The outstanding amount under the RCF is $400 million, and the amount outstanding under the Standby facility is $25 million.

The preliminary estimated EBITDA for 2022 and liquidity amounts are estimates based on currently available information, and the financial results are not finalized. The Company does not intend to update or otherwise revise these estimates to reflect future events and does not intend to disclose publicly whether its actual results will vary from its estimates other than through the release of actual results in the ordinary course of business. No independent public accounting firm has complied, examined or performed any procedures with respect to the anticipated financial information contained above, nor have they expressed any opinion or other form of assurance on such information or its achievability. The results are also subject to audit, and as such are subject to change.

[1] Consolidated EBITDA is operating profit including revaluation of investment properties and result from asset sales and excluding net result from investments in operating associates and excluding depreciation, amortization and impairment. This is not a measure prepared in accordance with IFRS and should not be used as an alternative to cash flows or as a measure of liquidity and should be read in conjunction with the consolidated statements of cash flows contained in our consolidated financial statements included in our quarterly and annual published reports.

[2] EBITDA from operations is operating profit excluding revaluation of investment properties, result from asset sales, net result from investments in operating associates and depreciation, amortization and impairment. This is not a measure prepared in accordance with IFRS and should not be used as an alternative to cash flows or as a measure of liquidity and should be read in conjunction with the consolidated statements of cash flows contained in our consolidated financial statements included in our  quarterly and annual published reports.

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About Stena AB

Stena AB is one of the largest privately owned companies in Sweden. Stena AB owns and operates one of the world’s largest international passenger and freight ferry services and owns, charters and operates offshore drilling units, drilling rigs, crude oil and petroleum product tankers, LNG carriers and Roll on/Roll off vessels. Stena AB also invests in and manages residential and commercial real estate, principally in Sweden and has investments in other businesses not related to our traditional lines of business.

Forward-Looking Statements

The press release include forward-looking statements within the meaning of applicable securities laws, including expected EBITDA for 2022 and expected liquidity. These forward-looking statements reflect the Company’s current view and are subject to change including as a result of the completion of the audit for the full year 2022. Forward-looking statements reflect knowledge and information available at, and speak only as of, the date they are made, and the Company expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statement contained in this press release. Readers are cautioned not to place undue reliance on such forward-looking statements.

Investor and Media Contact:
Peter Claesson
peter.claesson@stena.com
+46 704 855 144