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Kai Laitinen

CFO, Gasum
Tel. +358 40 500 2080
kai.laitinen@gasum.com

Gasum Green Funding Framework

Gasum Green Funding Framework is part of the company’s financing strategy and is used by the company to show the positive environmental and climate impacts of its business.

CICERO Shades of Green has evaluated and given Gasum’s Green Funding Framework the grade of dark green, which is allocated to the most climate friendly projects or business solutions that promote the long-term vision of the transition to a low-carbon society.

CICERO Second Opinion

Key data for 2018

Revenue €1,177 million
(2017: 925)

Operating profit €124 million
(2017: 114)

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Key figures and financial reports

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Please read more about Gasum Group's key figures, financial reports, financial statement bulletins and reports (pdf).

2019

Financial result Q2 2019
Financial result Q1 2019

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Gasum Group published Financial Statements Bulletin 1.1.–31.12.2018

In 2018 we expanded our gas market in line with our strategy on land and at sea. Gas use increased and there's positive outlook for gas market in the Nordics. Our Group’s financial performance developed as expected.

"Gasum had a successful year in 2018 because of determined strategy implementation, operational efficiency and also improved safety. Our revenue increased up 27% year on year in 2018."


Johanna Lamminen, CEO, Gasum Group

Johanna Lamminen, CEO, Gasum

Megatrends affecting the Company's operating environment

Gasum has identified the global megatrends affecting the company’s operating environment: climate change, technology development, accelerating urbanization, demographic shifts, and shift in global economic power. 

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Year 2018

Operation profit: 10.5%

Equity ratio: 43.7%

Return on equity: 13.3%


Year 2017

Operation profit: 12.3%

Equity ratio: 41.6%

Return on equity: 13.7%


27.09.2019

Gasum’s financing strategy promotes the transition to a low-carbon society

Nordic energy company Gasum has concluded a green loan agreement with SEB, Nordea and OP Corporate Bank. Gasum Green Funding Framework is part of the company’s financing strategy and is used by the company to show the positive environmental and climate impacts of its business.

Gasum has concluded a green loan agreement with SEB, Nordea and OP Corporate Bank. SEB acted as the sole co-ordinator and the Agent for the credit facilities. The green loan accounts for around 39 percent of the company’s total borrowing. In the same context, the company renewed its other loans and took out a loan for the unbundling of the gas transmission network business.

”Gasum’s strategy is to build the Nordic gas ecosystem by expanding the gas markets. In our responsibility program we have committed to act to curbing climate change and to promote the transition to a low-carbon society. Through our Green Funding Framework we can show the positive environmental and climate impacts of our business. We provide cleaner energy to our customers for combined heat and power production, for industrial needs as well as for road and maritime traffic. We help our customers to reduce their own carbon footprint and that of their customers,” says Elina Saarivuori, Sustainability Manager, Gasum.

Gasum’s Green Funding Framework has been evaluated by CICERO Shades of Green (Center for International Climate Research). CICERO Shades of Green has given Gasum’s Green Funding Framework the grade of dark green, which is allocated to the most climate friendly projects or business solutions that promote the long-term vision of the transition to a low-carbon society. The shades in the evaluation ratings are dark green, medium green and light green.

”Gasum offers its customers cleaner energy. We also want to show the direct and indirect impacts of our operations through what we do. A responsible financing strategy is an important part of our economic responsibility,” says Jonas Bergroth, Treasury Manager, Gasum.

The company reports annually the operations covered by green funding and their environmental and climate impacts in its Impact report. Nordea helped Gasum to develop its Green Funding Framework.

“We worked together with Gasum to develop the Green Funding Framework. We believe that understanding the impacts, both economically and environmentally, of sustainable businesses and operations is a growing trend. Green funding is well aligned with Gasum’s responsible bioeconomy and circular economy business. Corporates and investors are increasingly interested in responsible and sustainable investments, and as financiers we want to support our clients’ in their efforts to move towards more sustainable business”, says Juho Maalahti, Sustainable Debt and Funding Advice, Nordea.

Gasum’s Green Funding Framework covers Gasum’s renewable energy production, circular economy products, waste management operations and energy efficiency measures. The Green Funding Framework also includes financing and corporate responsibility management, which CICERO evaluated as being of an excellent standard. CICERO’s methodology aims to provide transparency for investors and a chance to see the climate risks and impacts in business activities.

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More information:

Jonas Bergroth, Treasury Manager, Gasum
phone: +358 40 755 8872, jonas.bergroth@gasum.com 

Elina Saarivuori, Sustainability Manager, Gasum
phone: +358 50 911 2668, elina.saarivuori@gasum.com

Olga Väisänen, VP, Communications, Gasum
phone: +358 40 554 0578, olga.vaisanen@gasum.com

The energy company Gasum is a Nordic gas sector and energymarket expert. Together with its partners, Gasum is building a bridge towards a carbon-neutral society on land and at sea. www.gasum.com.

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12.08.2019

Renewing energy company Gasum strengthens its Management Team – Kai Laitinen appointed as Chief Financial Officer

Gasum has appointed Kai Laitinen M.Sc. (Business Administration), (48) as the company's new Chief Financial Officer (CFO) and member of the Gasum Management Team. Laitinen will start in his new position on September 16, 2019. He has extensive experience in a variety of financial roles in at Stockmann, Outokumpu and at Finavia.

Kai Laitinen will join the Gasum Management Team from Stockmann plc where he has served as CFO since 2017.

"I’m delighted to welcome Kai Laitinen to Gasum. Strong management and leadership of our finance in a constantly changing operating environment plays a key role for our company’s success as we’re taking our strategy forward. Kai’s impressive financial administration and financing competencies combined with his track record with international listed companies will be an excellent complement to Gasum's professional and competent financial team and the Gasum Management Team, says Gasum CEO Johanna Lamminen.

Before joining Stockmann, Laitinen served as CFO and management team member at Finavia and in variety of financial management roles at Outokumpu.

Gasum’s previous CFO Lasse Aarnio will have a new role as a Senior Advisor in new Portfolio Management and Trading business unit. “I want to thank Lasse, whose role in developing Gasum's financial management and taking it to a new level has been highly significant,” says Lamminen.


For more information please contact:

Johanna Lamminen, Chief Executive Officer, Gasum
Phone: +358 20 44 78 661 (Henna Walker, Executive Assistant)

Olga Väisänen, Vice President, Communications, Gasum
Phone: +358 40 55 40,578, firstname.surname(a)gasum.com


The energy company Gasum is a Nordic gas sector and energy market expert. Gasum offers cleaner energy for combined heat and power production and industry as well as cleaner fuel solutions for maritime and road transport. We help our customers to decrease their own carbon footprint and that of their customers. Together with our partners, we are building a bridge towards a carbon-neutral future on land and at sea. Gasum promotes circular economy partnerships and is the leading supplier of biogas and processer of bio-degradable waste. We are also the leading liquefied natural gas (LNG) player in the Nordic market. The Gasum Group has around 350 employees in Finland, Norway and Sweden. The company’s revenue in 2018 totaled €1,177 million. Gasum is owned by the State of Finland. www.gasum.com. 

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16.07.2019

Gasum Group Financial Result Q2 2019 – Expansion of gas infrastructure

Expansion of gas infrastructure – Increasingly wide-spread use of gas-fueled vehicles promotes significant traffic emission reductions


Key financial indicators January 1 to June 30, 2019:

•  Group revenue increased by 6% and totaled €632.5 million (H1/2018: €597.5 million)
•  Operating profit totaled €76.3 million, flat year on year (€76.3 million)
•  Balance sheet total increased to €1,574.4 million (December 31, 2018: €1,526.6 million) following the introduction of the new IFRS 16 standard
•  The Group’s financial position remained strong in the reporting period, with the equity ratio being 43.9% (December 31, 2018: 43.7%)


Key financial indicators

 1,000 € 1–6/2019 1–6/2018 Change 2018
 Revenue 632.5 597.5 5.9% 1,177.4
 Operating profit 76.3 76.3 0.0% 124.2
 Operating profit (%) 12.1% 12.8%   10.5%
 Equity ratio % 43.9% 44.0%   43.7%
 Return on equity (%)* 12.0% 13.3%   13.3%
 Return on investment (%)* 8.6% 9.3%   9.2%
 Balance sheet total 1,574.4 1,465.9 7.4% 1,526.6
 Net interest-bearing debt 573.9 558.9 2.7% 562.7
 Gearing ratio % 83.3% 86.7%   84.7%
 Net debt/EBITDA* ** 2.8 2.9   2.9
 Personnel at year-end 364 432 -15.7% 434

  * Annualized
  ** Current period restated without the IFRS 16 effects
  Reference period information does not include IFRS 16 effects


Gasum Group CEO Johanna Lamminen comments on the first half of 2019:

”Our financial performance was in line with our expectations during H1. Our revenue increased to €632.5 million, up 6% year on year (€597.5 million) and our operating profit for the period under review was €76.3 million (€76.3 million), which was flat compared to a year earlier. 

During H1, we took our strategy steadfastly forward and together with our personnel updated our strategic targets for future years. Demand for cleaner energy solutions is showing strong growth in industry and total gas sales volumes are projected to further increase. 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.

Gasum’s associated company Manga LNG Oy’s LNG terminal in Tornio, Finland was opened in early June. The new terminal is a response to growing demand for low-emission LNG and strengthens security of LNG supply in the northern parts of the Nordic countries. The terminal will significantly support the competitiveness of the region by ensuring the availability of an affordable, low-emission form of energy to meet the demands of local industry as well as maritime and heavy-duty road transport.

During the period under review, we entered into significant partnerships in different businesses, of which the most important are two liquefied natural gas supply contracts to industry: Forchem Oy’s tall oil distillery in Rauma and Eastman Chemical Company Oy’s production site in Oulu. Gas offers industrial operators a good alternative to achieve emissions targets.

Growing the road fuel gas market and increasing biogas production are key elements in Gasum’s strategy. We have acquired the Mäkikylä biogas plant in Kouvola, Finland from Kouvola Vesi Oy. The transaction enables us to invest in the expansion of the Mäkikylä plant with the aim of increasing biogas production and modernizing the processes at the plant to bring them into line with today’s requirements. During the period under review, we also made
an investment decision to construct a biogas plant at Munkkaa in conjunction with the Lohja waste management center. On completion, the plant is expected to produce more than 40 GWh of biogas and 50,000 tonnes of organic fertilizers a year.

During the period under review, we opened three gas filling stations to meet the needs of heavy-duty transport and three filling stations for passenger cars. In addition, other operators are also building new gas filling stations, which will further complement the filling station network. Adding to the network of gas filling stations promotes the circular economy and supports national emissions reduction targets by helping Nordic transport to switch over to using cleaner fuel solutions.”

Link to the Gasum Group financial result Q2 2019 >

 

For further information please contact:
Johanna Lamminen, Chief Executive Officer, Gasum 
Phone. +358 20 44 78 661, (Henna Walker, Executive Assistant)
firstname.surname(a)gasum.com

The energy company Gasum is a Nordic gas sector and energymarket expert. Together with its partners, Gasum is building a bridge towards a carbon-neutral society on land and at sea. www.gasum.com.

Read more