Gasum Group Q1 2026: Operative improvements drove positive growth in LNG and biogas sales volumes – result was dampened by global turbulence

January-March 2026 (January-March 2025): 

• Sales volumes in Q1 2026 were 3.4 TWh (Q1 2025: 3.5 TWh), a decrease of 1 percent to comparison period is attributable to decreased pipeline natural gas volumes.
• The Group’s revenue increased by 16.9 percent to EUR 412.4 million from comparison period (Q1 2025: EUR 352.7 million).
• Operating profit (EBIT) was EUR -2.6 million (Q1 2025: EUR -0.3 million). Comparable operating profit (EBIT) was EUR 4.1 million (Q1 2025: EUR -4.9 million). 

Gasum Group CEO Mika Wiljanen comments:

“The year started with European concerns regarding gas availability in January, which caused climbing prices. On the last day of February, the United States and Israel launched military action against Iran. The conflict has since affected a wide area in the Middle East with consequences on energy infrastructure and markets, in addition to the severe humanitarian costs.

The situation increased inflationary pressure and volatility on the energy market widely. The price spread between gas and alternative oil products remained in favor of gas throughout the quarter, which translated to satisfactory LNG and biogas volume growth for the period in all customer groups.

Overall Gasum was able to continue the positive progress started at the end of 2025 in improving operative capabilities. However, the result was negatively affected by the price turbulence in March, leading to a dampened result for the whole period.

The comparable operating profit for the first quarter of 2026 was EUR 4.1 million (Q1 2025: EUR -4.9 million) and the comparable operating profit margin was 1.0 percent (Q1 2025: -1.4 percent). The equity ratio at end of March 2026 was 34.8 percent (31 March 2025: 39.0 percent).

The start of the new year also meant that we commenced the implementation of our updated strategy Accelerate for the period 2026—2030. The strategy sets ambitious financial and operational goals towards enhancing the company's performance as well as profitability and aims at building up resilience in a volatile energy market. The strategy implementation program is being managed by a dedicated Transformation Management Office.

One of Gasum’s key strategic targets is to increase biogas availability to our customers in the coming years by scaling up production and procurement. In March the Board of Directors made an investment decision regarding two biogas plants to be built in Sweden over the coming years. Each plant will produce 120 GWh of biogas per year out of around 300,000–400,000 tons of agricultural waste. Construction work at the Swedish green field plant project in Borlänge is being completed as planned and production is set to start in early 2027.

In 2026 we are continuing the good collaboration started the previous year with shipping companies Viking Line and Wallenius SOL in FuelEU Maritime pooling. By operating their vessels on liquefied biogas, Viking Line and Wallenius SOL are generating compliance units for Gasum’s commercial pool. The generated compliance units can then be transferred to other ships in Gasum’s pool.

Gasum’s new bunkering vessel Celsius, set to enter service in 2027, proceeded into the steel cutting phase at the RMK Marine shipyard. Construction is proceeding as planned and the vessel is expected to enhance the company’s ability to serve our maritime customers amid increasing demand for liquefied gas volumes in the coming years.

In March Gasum also started the process of changing the legal form of the company from a private limited liability company (Oy/Ltd) to a public limited liability company (Oyj/Plc). This change will enable us to diversify the company’s financing base in the future."

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