Gasum Group Q3 2025: Volumes remained on a modest level and profitability improvement measures continued

July-September 2025 (July-September 2024):

• Sales volumes in Q3 2025 were 2.6 TWh (Q3 2024: 3.8 TWh), decrease of 31.6 percent to comparison period due to decreased pipeline natural gas volumes.
• The Group’s revenue decreased by 6.1 percent to EUR 264.3 million from comparison period (Q3 2024: EUR 281.6 million).
• Operating profit (EBIT) was EUR 4.1 million (Q3 2024: EUR -14.2 million). Adjusted operating profit (EBIT) was EUR 0.8 million (Q3 2024: EUR -9.0 million).

January–September 2025 (January-September 2024):

• Sales volumes decreased by 30 percent compared to January-September 2024 mainly due to lower pipeline natural gas volumes. Total volume in 2025 was 9.1 TWh (13.0 TWh).
• The Group’s revenue decreased by 9.5 percent to EUR 900.4 million (EUR 994.6 million).
• Operating profit (EBIT) was EUR 8.1 million (EUR 1.1 million). Adjusted operating profit (EBIT) was EUR -7.5 million (EUR 26.6 million).
• Balance sheet total came to EUR 1,351.4 million (EUR 1,478.9 million).
• Equity ratio was 39.8 percent (37.3 percent).

Gasum Group CEO Mika Wiljanen comments:

“During the period overall volumes started to develop in the right direction, although they were still on a modest level compared to 2024 figures. In the maritime business Gasum’s FuelEU Maritime pooling service continued to gather traction in the market.

Development was also positive in the traffic business, but gas volumes in the industry business are still lagging behind. The multimarket optimization (MMO) service, however, continues to develop very well with new customers signed and onboarded throughout the period.

The adjusted operating result for the third quarter of 2025 was EUR 0.8 million (Q3 2024: EUR -9.0 million) and the adjusted operating profit margin for Q3 2025 was 0.3% (Q3 2024: -3.2%). The adjusted operating result for the cumulative period of Q1–Q3 2025 was EUR -7.5 million (Q1–Q3 2024: EUR 26.6 million) and the adjusted operating profit margin -0.8% (Q1–Q3 2024: 2.7%). Equity ratio at end of September 2025 was 39.8% (September 30, 2024: 37.3%).

The profit improvement measures started during the first half of the year and continued through the third quarter have included the whole organization and many short as well as long-term solutions have been found. These are expected to improve profitability both immediately and structurally over time.

Work continued to implement the company’s strategy. After a few initial challenges our newest biogas plant in Götene, Sweden was moved officially into production. Construction at the next newbuild in Borlänge, Sweden continued as planned with sights set on starting production in the first quarter of 2027.

There were many developments during the quarter on the maritime pooling side, as the regulation implementation is now gathering momentum towards the end of its first year.

In August we announced that Viking Line will start running its dual-fuel vessels on liquefied biogas (LBG) to generate surplus for Gasum’s FuelEU Maritime pool. The collaboration enables a substantial increase in compliance supply. We also signed an agreement with Anthony Veder whereby, on the one hand the carrier vessels chartered to Gasum will join the pool and generate compliance running on LBG and on the other hand Anthony Veder’s other vessels join the pool as regulation compliance offtakers. Additionally, we signed an LBG supply agreement with Finnish shipping company Wasaline, which is generating compliance for Stena Line’s vessels.

On the safety front the current year is turning out to be worrisome, as we have so far had one lost time injury to one of our own staff and seven to contractors. We are investigating the incidents thoroughly to make sure we are doing everything we can to turn the trend back downward.

In September we announced that Mikko Jaatinen is joining Gasum as Chief Financial Officer (CFO) and member of Gasum Management Team. He has an excellent track record in Finnish energy and technology companies.

Mikko Jaatinen succeeds Kai Laitinen, who is leaving his position during the autumn to pursue other interests. Kai has played a central role in the company’s strategic development during his tenure and I wish to, once more, thank him and wish him all the success in his future endeavors.”

Read the whole review on Gasum’s website

For more information please contact:

Mika Wiljanen, CEO, Gasum
Executive Assistant, Stella Hanafi
+358 40 153 5854, stella.hanafi@gasum.com

Olga Väisänen, Vice President, Communications and Sustainability, Gasum
+358 40 554 0578, olga.vaisanen@gasum.com