Kai Laitinen Gasum

Kai Laitinen

CFO
tel. +358 40 500 2080
kai.laitinen@gasum.com

Key data for 2021

Revenue €1,571.0 million
(2020: 664.3)

Equity ratio 18%
(2020: 36.0%)


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.

Gasum Green Funding report 2021

 

Gasum Green Funding report 2020

Gasum Green Funding framework

CICERO Second Opinion

 

Key figures and financial reports

Please read more about Gasum Group's key figures and annual financial reports.

2022

Financial reports

Financial result Q2 2022

Financial result Q1 2022

 

Financial communications

ALL NEWS
18.08.2022

Gasum Group H1 2022 – Gasum took action to adapt to an uncertain energy market

In the wake of the current geopolitical crisis and ever-increasing energy security concerns, market volatility and high oil and gas prices have marked the first part of 2022.

Key financial indicators January 1, – June 30, 2022: 

  • The Group’s revenue increased by 155.5 per cent to EUR 1,326.3 (519.1) million.
  • Operating profit (EBIT) was EUR 56.3 (-65.5) million at profit. Comparable operating profit (EBIT) was EUR 4.6 (-26.2) million
  • Cash flow from operating activities was EUR 43.2 (-9.3) million.
  • Balance sheet total came to EUR 2,244.0 (1,475.3) million
  • Equity ratio was 20.9 (29.5) per cent
  • Sales volumes decreased by 30.3 per cent and were 9.2 (13.2) TWh

Gasum Group CEO Mika Wiljanen comments on the first half of 2022:

"General volatility of the energy market as well as Russia’s war against Ukraine and the ensuing geopolitical tensions significantly hit Gasum’s business and performance during the first half of the year. Despite the challenging operating environment, we were able to ensure energy deliveries to our customers and to diversify our procurement portfolio.

The Group’s revenue for the first half of 2022 was EUR 1,326.3 million, operating profit was EUR 56.3 million and adjusted operating profit was EUR 4.6 million. Despite the changes taking place in the operating environment, the profitability of the Group’s business reached the planned level.

The geopolitical situation and the sanctions imposed on Russia and their consequences have resulted in major uncertainty on the energy market. Due to significant contract disputes, Gasum announced in May that it was to take the long-term supply contract of natural gas between Gasum and the Russian company Gazprom Export to arbitration. Gazprom Export cut off natural gas supplies to Finland under the contract on May 21st. During the summer, we are supplying natural gas to our natural gas customers in Finland from other sources via the Balticconnector pipeline and the end of supplies from Russia has not affected the functioning of the Finnish gas market or the availability of gas.

In April, we launched an extensive action program to improve the company’s profitability. Implementation of the program has progressed to plan, and we presented our new organization structure at the end of June. In addition, we also started work on updating our strategy and this is expected to complete during Q3.

Despite the challenging operating environment, we have actively continued our work to bring cleaner energy to our customers in industry, maritime and traffic.

In the industry business, the review period saw us enter into an extensive partnership agreement with Loiste Energia on energy management services with effect from the beginning of April 2022. The partnership agreement extensively covers energy management services such as sales of electricity production, electricity market portfolio management and brokering services, including market analyses and forecasts as well as balance management and 24/7 control room services. Besides these, Gasum is responsible for the continuous planning and optimization of production at Loiste’s CHP plant and hydropower plants. In April, we supplied liquefied biogas to Hafslund Oslo Celsio (earlier Fortum Oslo Varme) to produce district heat for the city of Oslo.

In the maritime business we continued our active engagement with our customers and various stakeholders. The current market conditions are challenging but we do see an increasing interest and demand for LNG as a cleaner shipping fuel.

In the traffic business, we continued expanding our network of gas filling stations by opening new stations in Sipoo, Kotka and Tampere. In addition, we also started work on building a new filling station in Vantaa. In Sweden, we concluded a new transport biogas agreement worth hundreds of millions of Swedish crowns with transport and logistics company Sandahls Logistik, and we are now building two new public gas filling stations next to the logistics company’s terminals. At the same time, Sandahls Logistik will invest in 120 new biogas-powered trucks from Volvo Trucks, which started to deliver them in March this year. The cooperation agreement is one of the biggest in the Nordic biogas sector to date.

We are continuously scaling up our biogas production and Gasum’s ambition is to make 4 TWh of biogas available on the market by 2025 from the company’s own production and from that of our certified European partners. During the review period, we also published our 2021 Corporate Sustainability Report, where biogas plays a key role. In 2021, we enabled carbon emission reductions of 345,000 tonnes for our customers through biogas, we promoted the circular economy by utilizing 880,000 tonnes of waste and waste food as well as 4,000,000 tonnes of wastewater as feedstock in biogas production. We also produced around 1,000,000 tonnes of recycled nutrients.

Despite the challenging operating environment, we will continue to focus on improving our business to be able to serve our customers to the best of our ability. I would like to thank our customers and all our stakeholders for their excellent cooperation with and confidence in Gasum. In addition, I would also like to extend a warm thanks to all our employees for their safe and successful work in exceptionally challenging circumstances."

Read more about Gasum Group financial result H1 2022 >
 

For more information please contact:

Mika Wiljanen, Chief Executive Officer, Gasum

Heidi Westerberg, Executive Assistant
Phone: +358 50 576 0951, heidi.westerberg@gasum.com

Olga Väisänen, Vice President, Communications and Sustainability, Gasum
Phone: +358 40 55 40 578, olga.vaisanen@gasum.com

GASUM IN BRIEF
The energy company Gasum is a Nordic gas sector and energy market expert. Gasum offers cleaner energy and energy market expert services for industry and for combined heat and power production as well as cleaner fuel solutions for road and maritime transport. The company helps its customers to reduce their own carbon footprint and that of their customers. Together with its partners, Gasum promotes development towards a carbonneutral future on land and at sea. www.gasum.com 

Read more
21.05.2022

Natural gas imports from Russia under Gasum’s supply contract has been halted

Natural gas supplies to Finland under Gasum’s supply contract have been cut off.

Starting from today, during the upcoming summer season, Gasum will supply natural gas to its customers from other sources through the Balticconnector pipeline. Gasum’s gas filling stations in the gas network area will continue in normal operation.


For more information please contact:

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

GASUM IN BRIEF
The energy company Gasum is a Nordic gas sector and energy market expert. Gasum offers cleaner energy and energy market expert services for industry and for combined heat and power production as well as cleaner fuel solutions for road and maritime transport. The company helps its customers to reduce their own carbon footprint and that of their customers. Together with its partners, Gasum promotes development towards a carbonneutral future on land and at sea. www.gasum.com 

Read more
20.05.2022

Natural gas imports from Russia under Gasum’s supply contract will be halted on Saturday 21 May at 07.00

On the afternoon of Friday May 20, Gazprom Export informed Gasum that natural gas supplies to Finland under Gasum’s supply contract will be cut on Saturday May 21, 2022 at 07.00.

Starting from tomorrow, during the upcoming summer season, Gasum will supply natural gas to its customers from other sources through the Balticconnector pipeline. Gasum’s gas filling stations in the gas network area will continue in normal operation.

“It is highly regrettable that natural gas supplies under our supply contract will now be halted. However, we have been carefully preparing for this situation and provided that there will be no disruptions in the gas transmission network, we will be able to supply all our customers with gas in the coming months,” says Gasum’s CEO Mika Wiljanen.

For more information please contact:

Mika Wiljanen, Chief Executive Officer, Gasum

Olga Väisänen, Vice President, Communications and Sustainability, Gasum
Phone: +358 40 55 40 578, olga.vaisanen@gasum.com

GASUM IN BRIEF
The energy company Gasum is a Nordic gas sector and energy market expert. Gasum offers cleaner energy and energy market expert services for industry and for combined heat and power production as well as cleaner fuel solutions for road and maritime transport. The company helps its customers to reduce their own carbon footprint and that of their customers. Together with its partners, Gasum promotes development towards a carbonneutral future on land and at sea. www.gasum.com 

Read more
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Gasum Group published Q4 Financial Review 1.1.–31.12.2021

Gasum Group Q4 2021 – The uncertainty related to the energy market grew