Enviro upbeat despite declines in sales, earnings

Gothenburg, Sweden – Scandinavian Enviro Systems AB (Enviro) has reported a first half loss (EBITDA) of SEK34.6 million (€3.1 million), compared to a profit of SEK67.2 million in the same period last year. Revenue, meanwhile, fell 76.5% year-on-year to SEK27.3 million.

The performance included a second quarter loss of SEK15.0 million – versus a prior-year-period profit of SEK33.1 million – while sales for the three months to 30 June fell 66.0% year-on-year to SEK19.9 million, the tire pyrolysis group reported 19 Aug.

Enviro linked the earnings declines over the first six months of 2025 mainly to decreased turnover related to a lower revenue in the form of “incurred costs and milestone payments” compared to the same period of 2024. 

Personnel costs were SEK11.2 million higher than last year, while external costs rose by SEK2.5 million, reflecting higher costs in connection with bridge financing, patent costs as well as outgoing freight costs from the group’s plant in Åsensbruk, Sweden. 

Volume increases at the facility in Åsensbruk, along with certain cost savings, had a positive impact on earning, amounting to SEK1.3 million.

In his CEO statement, Fredrik Emilson said: “We operate in a time marked by increased climate requirements and geopolitical instability.

With these disruptions, he said, “demand for sustainable and traceable materials, such as our recovered carbon black and pyrolysis oil, is continuously increasing.”

Emilson, for instance, cited recently renewed supply agreements and collaborations, including with an American oil producer and Swedish rubber & plastics manufacturer AnVa.

The CEO went on to underscore the Swedish group’s commitment to establish recycling capacity totalling 1 million tons/year in Europe.

Regarding Enviro’s flagship project in Uddevalla, Emilson said most of the factory and office buildings had been completed, with production equipment now being installed.

Start-up, he stated, is due during the fourth quarter, towards achieving a PAC (provisional acceptance certificate) around mid-2026, followed by handover of the facility to Infiniteria – a JV between Antin’s NextGen Fund, Michelin and Enviro.