Gasum Group Q3 2026: High and volatile prices challenged the company during the third quarter

July-September 2026 (July-September 2025): 

• Sales volumes in Q3 2026 were 2.8 TWh (Q3 2025: 2.6 TWh), up 8 percent, primarily due to higher liquified gas volumes
• The Group’s revenue increased 38.1 percent to EUR 364.9 million (Q3 2025: EUR 264.3 million).
• Comparable operating profit (EBIT) improved to EUR 9.7 million (Q3 2025: EUR 0.8 million). Operating profit (EBIT) was EUR -32.8 million (Q3 2025: EUR 4.1 million).

January-September 2026 (January-September 2025): 

• Sales volumes in January-September 2026 were 8.9 TWh (January-September 2025: 9.1 TWh), down 2 percent, primarily due to lower pipeline natural gas volumes.
• The Group’s revenue increased 23.5 percent to EUR 1,112.1 million (January-September 2025: 900.4 EUR million).
• Comparable operating profit (EBIT) improved to EUR 24.6 million (January-September 2025: EUR -7.5 million). Operating profit (EBIT) was EUR -39.7 million (January-September 2025: EUR 8.1 million).

Gasum Group CEO Mika Wiljanen:

“The third quarter of 2026 started on an optimistic note with a ceasefire and negotiations to end the Iran conflict. As the quarter progressed the optimism faded and was replaced with more uncertainty, volatility and steep rises in oil and gas market prices.

The European gas price index TTF started the quarter at around EUR 45/MWh peaking at over EUR 80/MWh mid-September. The period ended with the TTF at EUR 72/MWh. This means an approximately 60 percent price increase over the quarter.

Although the spread between oil and gas products remained supportive of gas throughout the quarter, the market situation has caused the company challenges in gas sourcing and hedging, especially during September. Additionally, the general economic uncertainty and high prices have suppressed overall demand, as customers strive to save on energy costs.

The comparable operating profit for the third quarter of 2026 was EUR 9.7 million (Q3 2025: EUR 0.8 million) and the comparable operating profit margin was 2.7 percent (Q3 2025: 0.3 percent). The comparable operating profit was positively impacted by significant realized hedge gain, the impact of which is expected to be offset in the final quarter of the 2026 financial year. The turbulent market environment continued to adversely affect the Group's financial performance during the third quarter.

Compared to Q3 2025, sales volumes in the integrated gas segment developed well during the third quarter of 2026. All business areas – traffic, industry and maritime – showed growth. On the biogas production side there were some challenges at several sites relating to, for example, grid connectivity and feedstock, which led to somewhat lower production volumes than in previous quarters.

Gasum’s Power business continued onboarding new multi-market optimization customers and developing commercial operations in Sweden. Strategic initiatives continued with a focus on enhancing capabilities. We also established a new cross-functional task force to explore future opportunities related to the data center boom in Finland and other Nordic countries.

The implementation of the company’s new strategy Accelerate – launched at the start of the year – continued well during the quarter with many highlights. While there is still plenty to be done, we have been able to achieve sustainable cost savings and other profit improvements through our many strategy initiatives and the results are already showing in the company’s bottom line.

The strategy implementation continues as planned in a programmatic manner and results are followed up continuously.

As part of the strategy the company started a consultation process at the end of August to advance a planned restructuring of the organization. The goal of the planned restructuring is to enable the organization to more efficiently meet the needs of the strategic transformation.

The organizational negotiations are expected to be wrapped up during October and the new organization to be rolled out during the final quarter of the year."

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