STENA AB issues further preliminary trading and liquidity update for full year 2023 and liquidity update as of year-end 2023

Gothenburg, Sweden, February 5, 2024 – Stena AB (the “Company”) one of the largest privately owned companies in Sweden, hereby issues a further preliminary trading and liquidity update.

Based upon preliminary, estimated, unaudited financial information, the Company believes that its total revenue for full year 2023 will be approximately between SEK 53 billion and SEK 57 billion (between $5.3 billion and $5.7 billion), its total income for 2023 will be approximately between SEK 6.1 billion and SEK 6.5 billion (approximately $0.6 billion), its operational EBITDA[1] for 2023 will be approximately between SEK 13.9 billion and SEK 14.3 billion (approximately $1.4 billion) and its consolidated EBITDA[2] for 2023 will be approximately between SEK 14.2 billion and SEK 14.6 billion (approximately $1.4 billion). The preliminary, estimated operational EBITDA, consolidated EBITDA, total revenue and total income for the full year 2023 reflects the continued strong performance of the business in line with last reported results for the nine months ended September 30, 2023.

The Company has a strong liquidity position. As of December 31, 2023, the Company had a total available liquidity of approximately SEK 22.8 billion ($2.3 billion), comprising cash on balance sheet, existing undrawn credit facilities and investments and marketable securities.

The preliminary estimated operational EBITDA, consolidated EBITDA, total revenue and total income for 2023 and liquidity amount as of December 31, 2023 are estimates based on currently available information, and the financial results are not finalized. The translations of SEK amounts into USD for operational EBITDA, consolidated EBITDA, total revenue and total income for 2023 and liquidity amount as of December 31, 2023 have been made at $1.00 = SEK 10.0734, the Bloomberg Closing Rate on December 29, 2023. 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 and liquidity 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 compiled, 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 preliminary results are also subject to audit, and as such are subject to change.

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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 preliminary, estimated operational EBITDA, consolidated EBITDA, total revenue and total income for 2023 and expected liquidity as of December 31, 2023. 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 2023. 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

[1] Operational EBITDA is defined as 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.

[2] Consolidated EBITDA is defined as operating profit 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 elsewhere herein.