GASUM GROUP Q2 INTERIM REPORT JANUARY 1 TO JUNE 30, 2016

GASUM GROUP INTERIM REPORT FOR JANUARY 1 TO JUNE 30, 2016

Revenue €445 million (H1 2015: €520 million)
Operating profit €68 million (H1 2015: €133 million)
Natural gas sales 13.2 TWh (14.2 TWh)
LNG deliveries 2.4 TWh (2.7 TWh) Biogas sales 37 GWh (17 GWh)

GASUM CEO JOHANNA LAMMINEN COMMENTS ON THE PERIOD UNDER REVIEW:

"Gasum’s strategy deployment was strong in the first half of the year, and progress was made in the development of the Nordic gas ecosystem.

Finland’s first shipload of LNG arrived at the Skangas terminal in Pori on July 10. The construction of the import terminal has progressed to the commissioning phase, with construction work having taken place according to the planned schedule without any accidents resulting in absence from work. The project has provided 320 full-time equivalents of employment. I would like to extend many thanks to the entire project organization. We are now able to offer LNG across the segments from maritime transport and industry to energy production and heavy-duty road transport. Commercial deliveries from the Pori terminal to customers will begin in September.

In the biogas business, Gasum entered into important circular economy partnership with Soilfood, involving the more advanced processing of nutrient-rich fertilizers from nutrient residues generated in biogas production. This makes the recycling of valuable nutrients more efficient.

Active dialog with customers was continued by Gasum’s natural gas business throughout the period. Through open dialog we have collaborated with our customers to explore the best possible methods and approaches and developed products to advance our cooperation. Our work to improve the competitiveness of natural gas against other fuel alternatives will also continue during the second half of the year."