CORRAL PETROLEUM HOLDINGS AB (PUBL) - Preem

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CORRAL PETROLEUM HOLDINGS AB (publ)CONSOLIDATED COMPREHENSIVE INCOME STATEMENTSFOR THE PERIODS ENDED DECEMBER 31, 2010 AND 2009(Amounts in MSEK)NotesYear endedDecember 31,2010Year endedDecember 31,2009Net sales.......................................................................... 87,004 73,592Excise duties ................................................................... 5 (9,747) (9,778)Sales revenues................................................................. 4 and 16 77,256 63,813Cost of goods sold .......................................................... 16 (74,205) (58,880)Gross profit/(loss)........................................................... 6 3,052 4,934Selling expenses.............................................................. (656) (685)Administrative expenses................................................. (495) (434)Other operating income .................................................. 13 369 443Operating profit/(loss) .................................................... 7-12, 36-38 2,271 4,259Financial income............................................................. 216 92Financial expenses .......................................................... (744) (602)Net financial items .......................................................... 14 and 16 (528) (510)Profit/(loss) before tax.................................................... 1,743 3,748Tax on profit/(loss) for the year...................................... 15 (466) (995)Profit/(loss) for the year.................................................. 1,277 2,753Other comprehensive income/(loss)................................Translation differences ................................................... 0 0Comprehensive income/(loss)......................................... 1,277 2,753Attributable to:Parent Company’s shareholders...................................... 1,276 2,752Non-controlling interest.................................................. 1 11,277 2,753F-3
CORRAL PETROLEUM HOLDINGS AB (publ)CONSOLIDATED BALANCE SHEETSAS OF DECEMBER 31, 2010 AND 2009(Amounts in MSEK)As of December 31,Notes 2010 2009AssetsNon-current assetsIntangible assetsGoodwill .................................................................................................................. 17 308 308308 308Property, Plant and EquipmentLand and buildings................................................................................................... 18 1,012 994Plant and machinery................................................................................................. 18 6,723 6,890Capitalized turnaround costs.................................................................................... 18 265 344Equipment, tools, fixtures and fittings ..................................................................... 18 421 433Constructions in progress......................................................................................... 18 905 9519,326 9,611Financial non-current assetsParticipating interests in associates.......................................................................... 19 83 5Receivables from affiliates....................................................................................... 20 and 35 3,340 3,183Financial assets held for trading............................................................................... 21 and 35 23 56Other non-current receivables.................................................................................. 14 233,460 3,266Total non-current assets ........................................................................................... 13,093 13,185Current assetsInventories ............................................................................................................... 22 8,216 8,266Trade and other receivables ..................................................................................... 23 and 35 4,667 3,674Derivatives............................................................................................................... 30 and 35 21 54Other receivables ..................................................................................................... 759 595Prepaid expenses and accrued income ..................................................................... 322 24513,986 12,834Cash and cash equivalents....................................................................................... 24 and 35 603 809Total current assets .................................................................................................. 14,589 13,642Total assets.............................................................................................................. 27,683 26,827F-4
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TABLE OF CONTENTSDisclosure Regardi
Page 5:
which was merged into Preem on Octo
Page 8 and 9:
RISK FACTORSThe risk factors below
Page 10 and 11:
the cost of exploring for, developi
Page 12 and 13:
purchase a minimum of 10% to 20% of
Page 14 and 15:
market price at the time of settlem
Page 16 and 17:
Notes, we would try to obtain waive
Page 18 and 19:
are reasonable grounds for believin
Page 20 and 21: civil liability, whether or not pre
Page 22 and 23: SELECTED CONSOLIDATED FINANCIAL DAT
Page 24 and 25: MANAGEMENT’S DISCUSSION AND ANALY
Page 26 and 27: Year ended December 31,%2008 2009 C
Page 28 and 29: arrel in February, increased to app
Page 30 and 31: (1) Includes sales by our supply an
Page 32 and 33: SEK 5,519 million, from a loss of S
Page 34 and 35: Cash flow used in investment activi
Page 36 and 37: Restrictions on transfers of fundsW
Page 38 and 39: Variable rate debt—amount due .
Page 40 and 41: As of December 31, 2008, SEK 21,999
Page 42 and 43: Our StrengthsOur competitive streng
Page 44 and 45: Lysekil has a total storage capacit
Page 46 and 47: Unfinished and Blend Stocks........
Page 48 and 49: Heating Oil .......................
Page 50 and 51: Business-to-Business DivisionWe pre
Page 52 and 53: “.nu,” “.org,” “.biz,”
Page 54 and 55: Energy AB, Huda Trading AB, the Swe
Page 56 and 57: was incorporated on March 22, 2007,
Page 58 and 59: RELATED PARTY TRANSACTIONSCapital T
Page 60 and 61: DESCRIPTION OF CERTAIN INDEBTEDNESS
Page 62 and 63: effected by the Third Supplemental
Page 64 and 65: first ranking mortgage certificates
Page 66 and 67: LEGAL INFORMATIONCorral Petroleum H
Page 68 and 69: CORRAL PETROLEUM HOLDINGS AB (publ)
Page 76 and 77: SubsidiariesSubsidiaries are compan
Page 78 and 79: The refinery installations consist
Page 80 and 81: of occupational pension insurance,
Page 82 and 83: Emission rights 2010LysekilGothenbu
Page 84 and 85: NOTE 2. FINANCIAL RISK MANAGEMENTTh
Page 86 and 87: In addition to price risk managemen
Page 88 and 89: The fair value of borrowing is calc
Page 90 and 91: Reconciliation with the Group’s t
Page 92 and 93: The Board members including the Cha
Page 94 and 95: NOTE 12. EXPENSES BROKEN DOWN BY TY
Page 96 and 97: NOTE 16. EXCHANGE RATE DIFFERENCES
Page 98 and 99: Equipment, tools, fixtures and fitt
Page 100 and 101: NOTE 23. TRADE AND OTHER RECEIVABLE
Page 102 and 103: The change in the fair value of pla
Page 104 and 105: Loan conditions, effective interest
Page 106 and 107: Capitalized interest cost..........
Page 108: SalesDecember 31, 2009AccountsPurch
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