Nynas reported last Friday that third quarter 2015 total sales volumes increased for Bitumen and Naphthenics combined by 6 percent. Net sales decreased to SEK 4,992 (US$575) million compared to SEK 7,019 million the same period last year.

"Bitumen sales were strong in all countries and Naphthenics sales grew overall despite the slowdown of economic growth in Asia and volume losses in Brazil as well as in Russia and Ukraine for known reasons," commented Gert Wendroth, President and CEO of Nynas AB.

Operating result before depreciation (EBITDA) excluding non-recurring items amounted to SEK 726 million compared to SEK 515 million in the same quarter in 2014. This result was impacted by oil and currency hedging activities including unrealised mark-to market effects with a net of SEK 279 million compared to SEK 43 million in the third quarter last year.

Net income was SEK 409 million, significantly up from SEK 92 million in last year's third quarter.

Overall naphthenics sales volumes grew in the third quarter compared with the same period in 2014. Most countries in Europe were at or above the same level compared to the same period in 2014, with the exception of Russia and Ukraine that continue to be negatively affected by the political situation. Sales in the Americas were at a similar level compared to the same period in 2014, however with a wide variation in performance amongst the various countries. Sales in Latin America, Mexico and the US developed positively, however sales in Brazil continued to be significantly depressed by the economic downturn. Sales in AMEA (Asia, Middle East and Africa) were well above the same period during 2014 despite the slowdown of the Chinese economy. Net external sales decreased to SEK 2,134 million in the third quarter, compared to SEK 2,496 million, as a consequence of lower oil price levels. Operating result before depreciation (EBITDA) increased to SEK 336 million from SEK 264 million.