SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of December 2003
Preem Holdings AB (publ)
(Translation of registrant's name into English)
Sandhamnsgatan 51,
S-11590,
Stockholm,
Sweden
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F: ý Form 40-F: o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes: o No: ý
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| PREEM HOLDINGS AB (PUBL) | |||
Date: December 2, 2003 | By: | /s/ PER HÖJGÅRD Name: Per Höjgård Title:Chief Financial Officer | |
Further to our Report on Form 6-K for the quarter ended September 30, 2003, filed with the U.S. Securities and Exchange Commission on November 28, 2003, we provide the following information.
Operating income(loss) Before Depreciation and Amortization (OIBDA), Change in Working Capital and Free Cash Flow
The table below shows our analysis of Operating Income Before Depreciation and Amortization (OIBDA), Change in Working Capital and Free Cash Flow, for the three months and nine months ended September 30, 2002 and 2003.
| | Three months ended September 30, | Nine months ended September 30, | |||||||
|---|---|---|---|---|---|---|---|---|---|
| | 2002 | 2003 | 2002 | 2003 | |||||
| | (in millions of SEK) | ||||||||
| OIBDA | |||||||||
| Refinery contribution | 219 | 453 | 655 | 1,713 | |||||
| Refining margin, hedge | 0 | (91 | ) | — | (493 | ) | |||
| Contribution to Fixed Costs | 219 | 362 | 655 | 1,220 | |||||
Fixed costs, refining (excl. depreciation) | (131 | ) | (141 | ) | (372 | ) | (410 | ) | |
| Inventories, Market-to-Market | (218 | ) | 227 | (171 | ) | 414 | |||
| Price effect Norm Position, Oil | 521 | (25 | ) | 1,276 | (221 | ) | |||
| Other major items | |||||||||
| Currency effect | 56 | (10 | ) | (151 | ) | (100 | ) | ||
| Waste heat sales | 4 | 5 | 35 | 46 | |||||
| Ticket sales | 17 | 15 | 47 | 51 | |||||
| Port income | 11 | 12 | 40 | 36 | |||||
| Trading result and other OIBDA, Supply&refining | (163 | ) | (25 | ) | (92 | ) | (23 | ) | |
| OIBDA, Supply and refining | 315 | 420 | 1,267 | 1,012 | |||||
OIBDA, other | |||||||||
| Swedish Market | 64 | 64 | 163 | 145 | |||||
| International market | (7 | ) | — | 1 | — | ||||
| Corporate Center—price effect Norm position, Currency | (31 | ) | (112 | ) | (493 | ) | (392 | ) | |
| Corporate Center—exchange rate difference purchase/sales | 16 | 66 | 18 | 139 | |||||
| Corporate Center—other OIBDA | (23 | ) | (20 | ) | (28 | ) | (68 | ) | |
| Preem Holdings AB | (7 | ) | (8 | ) | (22 | ) | (21 | ) | |
| OIBDA Preem Holdings | 327 | 410 | 905 | 815 | |||||
Decrease in Inventories | 531 | 909 | 399 | 562 | |||||
| Decrease in Current Receivables | 576 | 1,166 | 301 | 974 | |||||
| Increase (Decrease) in Liabilities | 48 | (827 | ) | (1,111 | ) | (862 | ) | ||
| Change in Working capital | 1,155 | 1,248 | (411 | ) | 674 | ||||
Capital Expenditures | (294 | ) | (298 | ) | (719 | ) | (525 | ) | |
| Free Cash Flow | 1,188 | 1,360 | (225 | ) | 964 | ||||
