Gasum Group Q2 2021 – Strong growth in all customer segments

• 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 >