22 May 2026
Earnings significantly impacted by bankruptcy of subsidiary Tyre Recycling in Sweden
Gothenburg, Sweden – Scandinavian Enviro Systems reported a wider first-quarter loss amid restructuring efforts, subsidiary bankruptcy proceedings and disputes linked to its Infiniteria joint venture.
For the January-March period, the tire recycling technology developer posted net revenues of SEK7.3 million (€670,000), broadly flat year-on-year, while after-tax losses widened to SEK80.5 million from SEK23.4 million a year earlier.
The end-of-life tire pyrolysis company said earnings were impacted by the bankruptcy filing of subsidiary Tyre Recycling in Sweden AB, which resulted in an impairment loss of SEK80.8 million in the parent company. (ERJ report)
Cash flow after investments improved slightly to negative SEK38.3 million, compared to negative SEK43.9 million in the prior-year period.
During the quarter, Enviro announced management changes with Fredrik Aaben appointed CEO and Maria Ljungstrand named CFO.
The first quarter of 2026 saw Enviro in a dispute with Infiniteria, an end-of-life tire (ELT) recycling joint venture backed by French private equity fund Antin Infrastructure Partners’ and Michelin.
According to Enviro, the claim arises from the parties’ partnership concerning a joint plant project in Uddevalla, Sweden, and is due to project delays.
Following the dispute, the company applied for company reorganisation due to liquidity pressures and terminated agreements related to the JV collaboration, which caused further legal escalation between the parties. (ERJ report)
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