Key figures and financial reports

"In recent years, Gasum has made the transition from a traditional natural gas transmission and distribution company to a Nordic gas and energy company aiming towards a cleaner tomorrow. The natural gas market in Finland opened for competition in 2020, and Gasum has played a significant role in preparing the market opening. Under Johanna's leadership, the company has made great achievements," says Elina Engman, Chairman of the Board.

"Johanna has taken Gasum forward with vision and determination. On behalf of the entire Board of Directors, I would like to warmly thank Johanna for her contribution to Gasum and wish her all the best for the future," adds Engman.

“Together with the entire staff, we have traveled an amazing journey. We have built a Nordic energy company that provides clean energy to industry, shipping, and transport, not to forget the biogas market and the circular economy. The company has a clear goal. The work is done, and now it is the right time for me to head towards new challenges,” says Johanna Lamminen.

Johanna Lamminen has held the position of CEO of Gasum since 2014.

• Group revenue totaled €519.1 million (1–6/2020: €302.3 million)
• Group operating result was €-2.8 million (1–6/2020: €17.5 million)
• Balance sheet total came to €1,475.3 million (30.6.2020: €1,259.3 million)
• The Group’s equity ratio was 29.5% (30.6.2020: 39.9%)

Gasum Group CEO Johanna Lamminen comments on the first half of 2021:

”During the second quarter of the year, we progressed to plan with our growth strategy in all key segments: industry, maritime and road transport. The Group’s revenue for the first half of 2021 was €519.1 million and other operating income was €153.3 million. A clear growth in volumes in all our segments as well as the trend in the price of gas compared to a year earlier contributed to the increase (71.7%) in Group revenue. Demand for cleaner energy is growing in all customer segments. In industry, our biggest business segment, volumes delivered to our customers were up 25% during the first half of 2021 compared to a year earlier.

During the period under review, demand for renewable wind power energy showed positive growth in industry. We entered into long-term wind power agreements with Kerava Energy and the K Group. Partnerships promote our strategy to deliver cleaner energy to industry. We are working actively with our customers for the goals of sustainable development.

In maritime transport, demand for cleaner fuel solutions continued to increase during the period under review and volumes delivered to customers were up 75% compared to a year earlier. We delivered two test consignments of liquefied biogas to the Finnish Border Guard for their offshore patrol vessel Turva and promoted their aim to transition to lowemission logistics.

Our business segments continued to show strong growth in the Nordics. During the period under review, volumes sold in our transport segment were up by more than140% compared to a year earlier. On the road transport side, we continued expanding our network of gas filling stations and opened our first new filling station in Norway and two more stations in Finland.

We also developed our customer portal for business customers and enable international actors to fill up at our stations. This supports our goal to connect the Nordic and Central European transport gas markets. The second quarter of the year saw a very sharp rise in gas prices. The rise in prices and
strong market reaction was unexpected and we significantly reduced our risks and booked a non-recurring loss, which hit the company’s operating profit.

We are aiming for a cumulative reduction of a million tonnes in carbon dioxide emissions to mitigate climate change by increasing the availability of biogas. By 2025, we will bring 4 TWh of biogas to market from our own production and that of our certified European partners. We furthered our sustainability goals by planning the construction of new plants in southern Sweden. These biogas plants would increase biogas production in the Skåne region by 50%.”

Read more about Gasum Group Financial Result Q2 2021 >

The Gasum Gas Fund supports full-time research relating to education, research and development aiming to promote the gas ecosystem. Gasum Gas Fund is one of the special funds run and administered by the Finnish Foundation for Technology Promotion (TES). Grants have been given out from the fund for researchers developing future solutions concerning, for example, the bioeconomy and circular economy, transport and logistics or energy solutions promoting the use of gas. For the application period and call for applications will be open at the beginning of  2022.

Grants for 2021 were given out from the Gasum Gas Fund to six researchers in Helsinki this year.

The objective of the Gas Fund is to support full-time research with full daily allowances. In addition, the Gas Fund seeks to provide long-term funding for research carried out by students. The Gasum Gas Fund is one of the special funds run and administered by the Finnish Foundation for Technology Promotion (TES).

Received by six persons this year, the grants from the Gasum Gas Fund in 2021 totaled €63,000 (2020: 75 000)

• Miriam Kellock: Analysis of the rate limiting steps in enzymatic hydrolysis of lignocellulose: the effect of lignin and enzyme structure, 12 000 €
• Miika Marttila: Kasvihuonelämmitysmenetelmien ilmastonlämpenemispotentiaali boreaalisella ilmastovyöhykkeellä Väitöskirjassa: Agroekologisten ja teollisten symbioosien ympäristövaikutukset maaseutuliiketoiminnassa, Lappeenrannan-Lahden teknillinen yliopisto LUT, 5 000 €
• Sami Lieskoski: The use of energy storage to integrate renewable energy in the transition to carbon-neutrality, Åbo Akademi, 12 000 €
• Marjaana Hassani: Pientareet ja joutomaat energianlähteinä, Jyväskylän yliopisto, 24 000 €
• Hassaan Ahmad Warraich: Master's thesis: "Studies on carbon dioxide hydrogenation to methanol using in-situ diffuse reflectance infrared Fourier transform spectroscopy and mass spectrometry", Aalto yliopisto, 5 000 €
• Danielle Bansfield: Exploiting the unexploited: improved recycling of nutrients in the reject water from biogas production into value-added products, Aalto yliopisto, 5 000 €