Content image

Kai Laitinen

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

Key data for 2020

Group income  €772.0 million
(2019: 988.7)

Group adjusted operating profit €33.8 million
(2019: 28.9)

 

CEO's Review 2020


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 2020

Gasum Green Funding framework

CICERO Second Opinion

 

Key figures and financial reports

Share:

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

2020

Financial result 2020
Corporate Responsibility report 2020
Green Funding Impact report 2020
Governance and remuneration 2020

Financial result Q4 2020
Financial result Q3 2020
Financial result Q2 2020
Financial result Q1 2020

31.03.2021

Gasum Responsibility Highlights in 2020 published – We enabled carbon dioxide reductions of 270,000 tonnes for our customers thanks to biogas

The energy company Gasum has published its Corporate Responsibility Report and Responsibility Highlights for 2020. The report focuses on key impacts from the social, environmental and economic perspectives.

At Gasum, our purpose is cleaner energy. Gasum takes determined steps to promote sustainable development in accordance with the principles of circular economy and supports the sustainability actions of customers by enabling emission reductions with cleaner energy solutions. In our own activities, we promote the wellbeing and safety of our own employees, reduce our environmental impacts and ensure responsible business practices.

Cleaner energy

We are committed to combating climate change by increasing the availability of low-carbon and renewable energy and by operating energy efficiently. We aim at carbon dioxide emission reductions of 1 million tonnes thanks to biogas. By 2025, we intend to make 4 TWh of biogas available on the market from our own production and that of our certified partners. In 2020, we promoted this objective by taking new biogas plants into commercial use and developing several plant projects. Our biogas enabled carbon dioxide emission reductions of 270,000 tonnes for our partners in the traffic, maritime and industry segments.

We reduced the climate impact of our own activities by implementing several projects improving energy efficiency at out LNG terminals and biogas plants. Our energy-efficiency measures enabled us to achieve energy savings totaling 44.5 GWh. We used 100% renewable electricity in all our operations.

We utilized around 850,000 tonnes of society’s waste and side streams in our production of biogas and recycled nutrient products. We continued our development of solutions promoting the circular economy. We improved production efficiency, developed the recycled nutrient and fertilizer product market and explored potential new raw material fractions.

The year saw us develop an efficient and sustainable energy ecosystem on land and at sea. We expanded our Nordic filling station network to around 100 stations. We built new gas filling stations for heavy-duty vehicles (HDVs). In maritime transport, our measures to improve the availability of liquefied natural gas (LNG) and biogas (LBG) included expanding our bunkering area. We performed around 1,300 fuel deliveries and made our first deliveries of biogas to our maritime customers.

We signed a long-term Power Purchase Agreement on the output of a Finnish wind farm. The PPA will increase the availability of renewable and local energy to our customers. In 2020, we obtained 6.2 TWh of renewable power with Guarantees of Origin for electricity for our customers.

Exceptional but successful year in terms of responsibility in 2020

During the COVID-19 pandemic, we succeeded in safeguarding the continuity of our production during the exceptional emergency conditions, too. Our occupational health and safety was at an excellent level. During the year, there was one Lost Time Injury (LTI), and the Total Recordable Injury Frequency (TRIF) decreased by 71%. The absence rate of employees was 1.1%.

Our aim is to develop the company together with employees, and we launched a monthly pulse survey to measure employee experience. We also redefined our ethics and compliance framework that oversees the implementation of responsible business.

“In addition to responsibility being an essential element of our day-to-day operations and decision-making, the clean energy offered by us is highly significant for our customers’ responsibility work. In 2020, we took steps forward and achieved our targets in many different aspects,” says Sustainability Manager Elina Saarivuori from Gasum.

Gasum’s responsibility work is steered by its Corporate Responsibility Program, which is summed up in six themes and related objectives. The themes derived from the company’s strategy and materiality analysis concerning corporate responsibility form the basis of Gasum’s Corporate Responsibility Program: Safety and Security, Climate Change, Circular Economy, Access to Energy, People, and Responsible Business. We support the global Sustainable Development Goals (SDGs) of the UN and contribute positively towards them.

Read more about our achivements:

For more information please contact:

Elina Saarivuori, Sustainability Manager, Gasum
Phone: +358 50 911 2668, firstname.surname(a)gasum.com
 

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 as well as that of their customers. Together with its partners, Gasum promotes development towards a carbon-neutral future on land and at sea. www.gasum.com  

Read more
29.03.2021

Gasum Financial Review, Corporate Responsibility Report, Governance and Remuneration Report and Green Funding Impact Report 2020 published

Gasum Group published Financial Review, Corporate Responsibility Report, Governance and Remuneration Report and Green Funding Impact Report for the period 1.1.–31.12.2020.

Regardless of the uncertainties caused by the COVID-19 pandemic, in 2020 Gasum continued to develop the Nordic gas market as planned and was able to ensure business continuity and progress in projects.

The company advanced its strategy in a purposeful manner by offering low-emission energy solutions in response to growing demand among industrial as well as road and maritime transport customers. The importance of gases as an energy source will increase further in industry and transport in particular as the Nordic countries are moving towards carbon-neutral energy production.

Download Our reports:

  • CEO's Review and Financial Review 2020

  • Corporate Responsibility Report 2020

  • Governance and Remuneration Report 2020
  • Green Funding Impact Report 2020


For more information please contact:
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 that together with its partners, promotes development towards a carbon-neutral future.

Read more
12.03.2021

Gasum Group Q4 2020 – Development of the Nordic gas market continued

Key financial indicators January 1 to December 31, 2020

  • Group income totaled €772.0 million (December 31, 2019: €988.7 million)
  • Group adjusted operating profit was €33.8 million (2019: €28.9 million) 
  • Balance sheet total came to €1,362.0 million (December 31, 2019: €1,163.2 million)
  • The Group’s solvency remained strong in the reporting period, with the equity ratio being 36.0% (December 31, 2019: 44.6%)
 

Gasum Group CEO Johanna Lamminen comment on 2020:
 

“Despite the exceptional circumstances, we succeeded in advancing our strategy as planned, which required hard work in an increasingly competitive market. The importance of gas as an energy source over the longer term will increase further in industry and maritime transport in particular, as the Nordic countries are taking steps towards carbon-neutral societies. Regardless of the uncertainties caused by the COVID-19 pandemic, we were able to ensure business continuity and progress in our projects. The impacts of the pandemic were reflected in our business operations in particular as start-ups of our new plants being pushed back and our new customer projects being delayed as well as in the growth targets set by us. I would like to thank our employees, customers and partners for well-functioning and flexible cooperation in an operating environment that has been challenging for all of us.

In total, the Group’s gross income in the financial year were €772.0 million, of which other operating income €107.7 million, including among others realized and unrealized commodity derivatives results. The Gasum Group’s revenue for the period under review totaled €664.3 million, down 28.2% on the corresponding period a year earlier. The decline in revenue was caused primarily by the European trend in the sales price of gas.

In maritime transport, demand for cleaner fuel solutions and interest in gas-powered heavyduty vehicles continued to grow in 2020. As part of our strategy execution, we closed the acquisition of Linde AG’s LNG and Biogas business and Nauticor’s Marine Bunkering business. The transaction expanded our supply of gas solutions in the Nordics particularly in maritime transport and heavy-duty road transport while also expanding our gas filling station network.

The year also saw us continue the expansion of the Nordic gas filling station network serving heavy-duty vehicles (HDVs) and opened eight new filling stations in the Nordic countries. The number of gas-powered HDVs increased by more than 400 new vehicles in the Nordics during the year. Companies upgrading their fleets included Posti Freight Services in Finland with its ten new biogas-fueled trucks and Bring Åkeri in Sweden with its six new biogas trucks.

Gas is also attracting interest among forerunners in maritime transport, and we are continuously developing our fuel offering and services to meet the maritime sector’s needs. To provide our shipping customers with a flexible service across an even more extensive geographical area, we entered into partnership with Pavilion Energy. The partnership enables us to provide customers with liquefied natural gas (LNG) in the Singapore region and in Northern Europe. We also started regular deliveries of a fuel blend containing renewable liquefied biogas (LBG) to our maritime transport customer Preem in Sweden.

In line with our strategy, we also improved access to renewable energy and acquired a biogas plant in Skövde and made an investment decision concerning the construction of an industrial-scale biogas plant in Götene, Sweden. In Finland, the commercial use of the expanded Turku biogas plant - also Finland's first plant producing LBG - began, and at the end and at the end of the year we took into use a transfer station for biowaste in Vantaa. We also entered into our first long-term Power Purchase Agreement (PPA) with ABO Wind Oy on the output of a wind farm located in North Ostrobothnia, Finland.

There is growing industry interest in the use of gas in the Nordic countries. We delivered LBG to the cleantech company Forchem and entered into an LNG supply contract with the Norwegian reinforced steel company Celsa Armeringstål.

We also entered into a portfolio management cooperation agreement with the Finnish energy company Keravan Energia and expanded our role in the Nordic power market by becoming a member of the Nordic power exchange of Nasdaq OMX.”

Read more about Gasum Group Q4 Financial result 2020 here >

For more information please contact:

Johanna Lamminen, Chief Executive Officer, Gasum

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 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 as well as that of their customers. Together with its partners, Gasum promotes development towards a carbon-neutral future on land and at sea. www.gasum.com  

Read more

"Regardless of the uncertainties caused by the COVID-19 pandemic, Gasum continued to develop the Nordic gas market as planned and was able to ensure business continuity and progress in projects in 2020.


Johanna Lamminen, CEO, Gasum Group

Johanna Lamminen, CEO, Gasum
Content image

Gasum Group published Q4 Financial Review 1.1.–31.12.2020

Development of the Norcis gas market continued

;