Key financial indicators
• Revenue €827.4 million, up 22,5% (€675.7 million)
• Sales of Natural Gas business €613.2 million (€497.8 million)
• Sales of LNG business €176.8 million (€140.5 million)
• Sales of Biogas business €35.5 million (€35.4 million)
• Operating profit €93.0 million, up 20,0% (€77.5 million)
Gasum Group CEO Johanna Lamminen comments on the third quarter of 2018:
”Our Group’s financial performance improved in line with our expectations during the period under review. Our revenue was up 22.5% year on year at €827.4 million and our operating profit was €93.0 million.
The fight against climate change necessitates a transition from carbon- and oil-based alternatives to cleaner solutions, and this is rapidly accelerating the demand for gas. In the years ahead, we will be investing significantly in the development of the Nordic gas market and infrastructure. We are continuously strengthening our capacity to offer diverse, competitive and easy-to-access gas solutions to our customers in Finland, Sweden and Norway.
In transport in particular, the demand for cleaner gas solutions is growing considerably. Transport accounts for around a fifth of the EU’s greenhouse gas emissions total and, of this, a quarter is from delivery and heavy-duty vehicles. To respond to this growing demand, we have adopted offering clean alternatives for transport as one of our strategic focuses.
In September, we announced a major plan to expand the gas filling station network for heavy-duty vehicles by around 50 stations in Finland, Sweden and Norway. The new filling stations will be located at key transport nodes as regards road haulage flows, and they will enable significant increases in the use of liquefied natural gas and biogas in heavy-duty transport.
Another important step in the development of the Nordic gas market is the transaction closed in late August where we acquired the energy market services business of Enegia.
The acquisition enables us to serve our Nordic customers more extensively. At the same time, we are continuing preparations for the opening up of the Finnish gas market effective from the beginning of 2020.”
Please read Q3 2018 Interim report >