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Additional details

Lasse Aarnio
CFO
p. +358 50 453 6064
lasse.aarnio@gasum.com

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 interim reports (pdf).

2018

Q1-Interim report 1.1.–31.3.2018
Q2-Interim report 1.1.–30.6.2018
Q3-Interim report 1.1.–30.9.2018
Q4-Financial Statements bulletin 1.1.–31.12.2018

2018

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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. 

Read more

 


Year 2017

Operation profit: 12.3%

Equity ratio: 41.6%

Return on equity: 13.7%


Year 2016

Operation profit: 14.8%

Equity ratio: 40.8%

Return on equity: 17.7%


11.03.2019

Gasum Group Financial Statements bulletin 2018 – Gas use increased, positive outlook

KEY FINANCIAL INDICATORS JANUARY 1 TO DECEMBER 31, 2018

  • Revenue €1,177.4 million, up 27% year on year (2017: €925.0 million)
  • Sales of Natural Gas business €874.9 million (€678.7 million)
  • Sales of LNG business €252.0 million (€195.2 million)
  • Sales of Biogas business €48.7 million (€47.9 million)
  • Operating profit, €124.2 million (€114.2 million)

 

Key financial indicators

1,000 € 2018 2017 Change
Revenue 1,177,448 924,987 27.3%
Operating profit 124,169 114,170 8.8%
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%  
Net debt/EBITDA 2.9 3.2  
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.”

Read more Gasum Group Financial Statements bulletin 2018 >
 

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. Gasum imports natural gas to Finland and promotes circular economy by processing waste and producing biogas and recycled nutrients in Finland and Sweden. The company offers energy for heat and power production, industry as well as road and maritime transport. Gasum is the leading supplier of biogas in the Nordic countries. The company has a gas filling stations network, that also serves heavy-duty vehicles. Gasum is also the leading liquefied natural gas (LNG) player in the Nordic market. The company continues to strengthen the position and infrastructure of LNG and supplies LNG to maritime transport, industry and heavy-duty vehicles in Finland, Sweden and Norway.

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28.02.2019

Gasum Tekniikka sold to Viafin Service

Gasum Ltd has sold its subsidiary Gasum Tekniikka Oy to the industrial maintenance partner Viafin Service Oyj. The transaction was closed on February 28, 2019 and made Gasum Tekniikka part of the Viafin Service Group.

The arrangement is part of Gasum’s strategy of focusing on the development of the gas market and energy infrastructure in the Nordic countries. The Gasum strategy is to expand the gas market and build a bridge towards a carbon-neutral society on land and at sea in the changing operating environment together with its partners.

Gasum Tekniikka will continue service provision to current and new customers as part of the Viafin Service Group. Viafin Service is a company specialized in industrial maintenance and in repair, maintenance and installation of piping and equipment. Gasum will continue to buy services from the company in the future, too.

 

For more information please contact:

Johanna Lamminen, Chief Executive Officer, Gasum
Phone: +358 20 44 78 661 (Henna Walker, Executive Assistant), henna.walker(a)gasum.com

Olga Väisänen, Vice President, Communications, Gasum
Phone: + 358 40 554 0578, olga.vaisanen(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
08.02.2019

Energy company Gasum switches to renewable electricity in all operations

The Nordic energy company Gasum has switched to renewable electricity in all of its operations from the start of 2018. All of the electricity consumed by the company (150 GWh) is generated from Nordic hydropower. In its Corporate Responsibility Program, Gasum is committed to action against climate change and promoting the transition to a low-carbon society.

Gasum has been using renewable electricity partially already since 2017 but made a full switch to renewable electricity in all of its operations from the start of 2018. The electricity is generated from Nordic hydropower. A significant proportion of the electricity sourced goes to the production of liquefied natural gas (LNG) in Risavika, Norway.

Mitigating climate change at the core of responsibility work
 

”Switching to renewable electricity was a strategically natural choice for us. Promoting cleaner energy solutions together with our customers is at the core of our operations as a company. We’ve also made a commitment to the Energy Efficiency Agreement for Industries aiming to reduce energy consumption,” says Minna Tolonen, Sustainability Manager, Gasum.

Gasum’s Energy Market Services experts in renewable electricity

Souring renewable electricity was easy for the company as Gasum’s Energy Market Services are experts in the Guarantee of Origin market for electricity and help customers source renewable electricity.

”Renewable electricity can be sourced without changing current electricity contracts as the origin of electricity is verified with Guarantees of Origin. Favoring renewable electricity is an excellent opportunity for enterprises and other actors to implement their environmental responsibility,” says Portfolio manager, Atte Pekkala from Gasum Energy Market Services.

Gasum Energy Market Services help enterprises to reduce their carbon footprint by also offering expert services relating to emissions trading and solutions relating to emissions offsetting.
 

For more information please contact:

Minna Tolonen, Environmental and Energy Manager, Gasum
Phone: +358 50 911 2668, firstname.surname(a)gasum.com

Atte Pekkala, Portfolio Manager, Gasum Energy Market Services
Phone:+358 40 631 0564, 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