A sustainable future calls for smart energy solutions and gas plays a key role in reducing greenhouse gas emissions. We offer a clean and cost-effective energy alternative, and the raw materials for industry and combined electricity-heat producers, in Finland, Sweden and Norway.
KEY FINANCIAL INDICATORS JANUARY 1 TO DECEMBER 31, 2018
Key financial indicators
|Operating profit (%)||10.5%||12.3%|
|Equity ratio %||43.7%||41.6%|
|Return on equity (%)||13.3%||13.7%|
|Return on investment (%)||9.2%||9.1%|
|Balance sheet total||1,526,550||1,421,201||7.4%|
|Net interest-bearing debt||562,715||585,872||-4.0%|
|Gearing ratio %||84.7%||99,2%|
|Personnel at year-end||434||409||6.1%|
Gasum Group CEO Johanna Lamminen comments on 2018:
”Gasum had a successful year in 2018 because of determined strategy implementation, operational efficiency and also improved safety.
Our Group’s financial performance improved in line with our expectations. Our revenue increased to €1,177.4 million in 2018, up 27% year on year (2017: €925.0 million). Our operating profit was €124.2 million, up 8.8% year on year (€114.2 million).
As a low-emission fuel, the role of gas will increase in the future, above all in maritime transport and heavy-duty road transport as action to curb climate change calls for a transition to cleaner solutions. Gas also offers industrial operators an excellent alternative in their efforts to achieve their emission targets.
In the coming years, we will invest strongly in the development of the Nordic gas market and infrastructure, helping the Nordic countries to reach the emission targets set. Demand for clean gas solutions is increasing strongly and the total sales volumes of gas are projected to grow, which will also ensure positive development in the company’s revenue and profitability.
Offering clean alternatives in transport is a strategic focus for Gasum. Last year we announced our plan to construct a network of 50 filling stations in Finland, Sweden and Norway to serve heavy-duty vehicles. The investment will multiply the size of the Nordic heavy-duty vehicle filling station network, enabling considerable transport emission cuts.
We took another important step to develop the Nordic gas market by acquiring the energy market services business of Enegia. The acquisition improves our opportunities to provide well-functioning energy solutions to an even broader spectrum of customers in the Nordic countries and that way strengthen our position in the energy market.
Thirdly, we increased our shareholding in our subsidiary Skangas from 70% to 100% in October 2018. This was part of the Gasum strategy with the development of the Nordic gas market and LNG infrastructure at its core. This also enables us to operate under a single strong brand throughout the Nordics.
In 2018 we made preparations for the opening up of the Finnish gas market effective from the beginning of 2020. We will continue this work and anticipate another strong year for Gasum in 2019.”
For further information please contact:
Johanna Lamminen, Chief Executive Officer, Gasum
Phone. +358 20 44 78 661
(Henna Walker, Executive Assistant)
Gasum’s collaboration with DB Schenker deepens as two Finnish transport companies operating for DB Schenker, Sepi Trans Oy and K&O Tiilikainen, started to use tractor units fueled by liquefied natural gas (LNG) in early 2019. LNG is an efficient way to reduce emissions from heavy-duty transport. Both companies are excited about their new gas-powered towing engines.
Finnish transport companies operating deliveries for DB Schenker have taken new LNG-powered tractor units into service during early 2019. DB Schenker is a global transport and logistics company whose choices play an important role in efforts to reduce the sector's emissions. The company intends to reduce 30% of its carbon dioxide emissions during the period between 2006 and 2020. The way to achieve the target is to use cleaner modes of transport, with one of these being LNG-powered tractor units.
”Transport and flows of goods are needed, but transport generates a great deal of carbon dioxide emissions. Liquefied natural gas is an effective way of reducing carbon dioxide emissions from heavy-duty transport. Our choice of fuel plays a very big role in our efforts to reach the climate target,” says Anni Lemola, Head of Operational Excellence, DB Schenker.
There are several factors supporting the growing role of gas use in Finnish heavy-duty road transport. The Nordic countries have made commitments to ambitious targets concerning reductions of emissions from road transport, and up to 90% of goods in the Nordic countries are transported by road. In Finland, delivery and heavy-duty transport account for almost 40% of road transport emissions. Up to a fifth of Finland’s emissions could be eliminated by switching to gas as a road vehicle fuel.
”Finnish transport emissions must be cut by 50% by 2030 from the 2005 level. Compared with other emissions-generating sectors, the contribution of the transport sector will have to be the greatest. There is also major interest in LNG among transport entrepreneurs – they want to be part of the change and lead the way. LNG is also a cheaper alternative for transport companies than other fuels such as diesel,” says Juha-Matti Koskinen, Sales Manager, Traffic, Gasum.
Both transport companies have been very happy with the LNG-powered newcomers in their fleets. The Vantaa-based Sepi Trans Oy got its first gas-fueled traction unit, a Volvo FH 460, in January 2019 and the Helsinki-based K&O Tiilikainen’s traction unit fleet was supplemented by another gas-fueled one, an Iveco Stralis NP, in December last year.
”We must respond to the global climate challenge and someone has to be brave enough to take the first steps. We like using the new Ivecos. These traction units are silent and smooth to operate. Handling gas is also cleaner than handling other fuels, which makes drivers’ work safer,” says Ossi Tiilikainen, Managing Director, K&O Tiilikainen.
The Finnish gas fueling station network is one of the fastest-growing ones in Europe. Both K&O Tiilikainen and Sepi Trans agree that the coverage of the filling station network is sufficient in their operating areas. Gasum is expanding its Nordic gas filling station network by several new stations a year. Goods transport between Southern and Northern Finland will be supported through the construction of new LNG filling stations in Northern Finland. For example, the LNG station at Äimärautio, Oulu, opens in May at Terminaalitie 1.
”We take the locations of gas filling stations into account when planning our routes. For example, when setting off into a night journey, it’s enough to fill up once. That takes you easily through the night and there’s no extra hassle for the driver,” says Seppo Palosaari, Managing Director, Sepi Trans Oy.
For more information please contact:
Juha-Matti Koskinen, Sales Manager, Traffic, Gasum Ltd
Phone: +358 40 768 7188, juha-matti.koskinen(a)gasum.com
Gasum’s Lohja biogas plant project is moving ahead as progress is made in design and procurement. To be constructed in conjunction with the Lohja Munkkaa waste management center, the plant will process an annual total of 60,000 tonnes of biowaste. The plant is expected to produce more than 40 GWh of biogas and 50,000 tonnes of organic fertilizers per year. The commissioning of the plant is scheduled for 2020.
The project will enhance the growth of the Finnish biogas market and strongly promote the transport fuel use of biogas. Project construction work is due to begin in April and be completed during 2020. The job-creation impact of the Lohja project will be around 170 full-time equivalents of employment during the con-struction phase, while the permanent employment effect will be around 32 full-time equivalents.
”It’s great that work on our biogas plant project is starting as progress is made in the planning phase. Developing the biogas market and the transport use of biogas as well as increasing the biogas production capacity are essential elements of the Gasum strategy,” says Matti Oksanen, Director, Business Development, Biogas, Gasum.
The investment is significant for Gasum. The Ministry of Economic Affairs and Employment has granted Gasum €7.83million in ’Bioeconomy and clean solutions' key project support for increased biogas production.
Gasum’s current biogas capacity is around 650 GWh per year. At its 12 biogas plants in Finland and Swe-den, the company processes around 800,000 tonnes of biomass per year. Gasum is the leading processer of biodegradable waste and supplier of biogas in the Nordic countries. The company’s biogas plant devel-opment projects are underway in locations such as Turku and Oulu, Finland and Nymölla, Sweden.
For further information please contact:
Matti Oksanen, Director, Business Development, Biogas, Gasum
Phone: +358 40 483 6035, matti.oksanen(a)Gasum.com
Ari Suomilammi, Director, Circular Economy, Finland, Gasum
Phone: +358 40 065 3351, ari.suomilammi(a)gasum.com.
Gasum story: Towards a cleaner tomorrow