Key figures and financial reports

Anders Malm (1972) joins the Gasum Management Team from Emercor Consulting, where he has been CEO since 2018.  

“We warmly welcome Anders Malm to Gasum and to lead our Portfolio Management and Trading business. His solid track record in energy markets supports the implementation of our growth strategy and our journey towards a cleaner tomorrow. The broad experience that Anders has in trading, logistics and business development will be an excellent complement to our team at Gasum,” says Johanna Lamminen, Chief Executive Officer at Gasum.

Before joining Emercor Consulting, Malm served as Executive Vice President for Supply & Trading at Preem AB (publ) and a member of Preem Management Team Sweden in 2015-­2018. He has held several senior management positions at Preem AB (publ) since 2004 and has over 25 years’ experience in the downstream oil & gas industry.

• The Group’s operating profit totaled €12.3 million, down 29.7% year on year (March 31, 2019: €17.5 million).

• Operating profit margin in Q1 was 6.9%, up 1.4% compared with the reference year’s continuing operations (March 31, 2019: 5.5%).
• Balance sheet total came to €1,133 million (March 31, 2019: €1,139 million)
• The Group’s solvency remained strong in the reporting period, with the equity ratio being 44.1% (March 31, 2019: 40.7%).

_{* Including comparable figures for continuing operations}
 

Gasum Group CEO Johanna Lamminen comments on the first quarter of 2020:

“The first quarter saw us implement our strategy and continue the development of the Nordic gas market despite the uncertainties brought about by the COVID-19 pandemic. So far, the pandemic has only had minor impacts on our business, and we have been able to continue the implementation of our various projects as planned. We have taken numerous measures to ensure the health and safety of our employees and to safeguard the continuity
of our business and progress in our projects. We have also made every effort to safeguard energy supply, gas sourcing and distribution as well as safe and secure logistics in our recycling and waste services, too. I am proud to see how strongly committed our employees are and how well cooperation between Gasum, our customers and our partners is working.

At the turn of the year, the Finnish pipeline gas market was opened up to competition and Gasgrid Finland Oy, the gas transmission network company unbundled from Gasum, became operational. Going forward, Gasum will focus on providing diverse, competitive and easily accessible energy solutions and energy market expert services for our customers in the Nordic countries.

During Q1/2020, the role of gas as a maritime transport fuel also continued to grow and we entered into an LNG delivery agreement with the Norwegian energy company Equinor. Biogas 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. In Sweden we started regular deliveries of renewable shipping fuel to one of our maritime
transport customers, the fuel company Preem.

We also continued to build our Nordic gas filling station network by opening three new stations. We also made progress as planned in our Biogas business development and entered into an agreement with the environmental services company Encore Ympäristöpalvelut on the utilization of biowaste from the Helsinki Metropolitan Area at our Lohja biogas plant due to be completed in late 2020. In addition, we delivered liquefied biogas (LBG) to the
cleantech company Forchem Oy.

We also expanded our role in the Nordic power market by becoming a member of the Nordic power exchange of Nasdaq OMX, which provides us with access to direct trading in the power derivatives market.”

Read more Gasum Group Q1 2020 Financial report >

In the transaction, Gasum acquired Linde’s LNG and Biogas business and Nauticor’s Marine Bunkering business, and around total of 35 employees, a customer base and several assets were transferred to Gasum. The businesses generate annual revenues of more than EUR 100 million. The transaction strengthens Gasum’s strategy by developing the Nordic gas market and creating a platform for a broader offering to its customers in the maritime, industry and road transport segments. The acquisition also accelerates Gasum’s growth strategy for cleaner transport solutions in the Nordic heavy-duty vehicle market.

”We are very pleased about this transaction which is an important step for Gasum when building the Nordic gas ecosystem and responding to  increasing customer demand for low-emission energy solutions. The acquisition is part of our strategy execution and further strengthens the company’s capacity to offer gas solutions for various customer segments in multiple locations. The acquisition enables Gasum to supply and to ensure the availability of a competitive, low-emission form of energy to meet the demands of industrial, maritime and road transport customers in the Nordic countries,” says Gasum CEO Johanna Lamminen.

“We are certain that Gasum will be a strong owner that will successfully develop the cleaner energy and maritime bunkering businesses further,” says Jan Ellringmann, Business President, Linde Region Europe North.

In the transaction, several assets were transferred to Gasum:

• LNG terminals in Sweden and in Norway
• Bunkering vessel Seagas 
• Bunkering vessel Kairos
• 48 gas filling stations in Sweden and Norway