Nynas' net sales grew to 7,019 SEK million, or US$942 million, (compared to 6,500 SEK million) for the third quarter and to 17,537 SEK million (compared to 14,816 SEK million) for the first nine months of 2014. EBITDA (excl. non-recurring items) amounted to 515 SEK million (compared to 356 SEK million) in Q3 and to 991 SEK million (compared to 420 SEK million) for the first nine months. Both Bitumen and Naphthenics have contributed to this positive development as well as the savings from the company's efficiency program.

"Third quarter results have exceeded our expectations and have confirmed the positive trend of our business already shown in the first half of this year. The nine month operational result before non-recurring items has been the best in 4 years and underpins the strong recovery of Nynas," commented Gert Wendroth, President and CEO of Nynas AB.

In the naphthenic oil segment, net sales reached SEK 3,147 million (compared to 2,690 SEK million) for the quarter and EBITDA SEK 264 million (compared to 169 SEK million) reflecting both volume growth and improved margin levels compared to last year.

Sales continued at a stable level in most European countries; however sales in France were negatively affected by factory closures and sales in Russia and Ukraine remained at a low level due to the on-going political crisis. In the Americas, sales were influenced by the overall slowdown in economic activity in South America, especially in Brazil due to the FIFA World Cup and the Presidential elections. This was particularly evident in the automotive segment, affecting sales to the lubricants industry. Nynas increased its sales of tire oils in AMEA (Asia, Middle East and Africa), especially in China. Several new projects were won to supply transformer oil to Japanese OEMs. Sales in the Middle East and Turkey are still suffering from the on-going crises in the region.

In September Nynas announced the intent to close its Nynas NV Continental Europe bitumen business. The business has been loss-making during the last years and Nynas sees no immediate realistic option for improvements. Following a consultation process with the employee representative body and the unions, the decision to close was announced on November 18. Discussions regarding the social plan for the employees involved will now commence. Irrespective of this decision Nynas will continue to supply bitumen to its customers in the region demanding Nynas high quality products.

In the UK an agreement was concluded in September with Imperial Tankers Ltd to take over Nynas bitumen distribution services as per October 1, 2014.

Nynas AB is 49.999 per cent owned by Neste Oil AB and 50.001 per cent by PDV Europa B.V. PDV Europa B.V, is part of Petróleos de Venezuela S.A.