Gasum Group Financial result Q3 2019 – Strong growth in demand for cleaner energy solutions
Key financial indicators January 1 to September 30, 2019
• Group revenue increased by 1.4% year on year and totaled, €838.8 million (January-September/2018: €827.4 million)
• Group operating profit totaled €86.3 million, down 7.2% year on year (€93.0 million)
• Balance sheet total increased through new investments to €1,553.7 million (December 31,2018: €1,526.6 million)
• The Group’s financial position remained strong in the reporting period, with the equity ratio being 44.6% (December 31, 2018: 43.7%).
CEO Johanna Lamminen comments on Q3 of 2019:
”Our financial performance was in line with our expectations during the reporting period. Our revenue totaled €838.8 million (€827.4 million) and our operating profit for the period under review was €86.3 million.
During Q3, we concluded a green loan agreement with SEB, Nordea and OP Corporate Bank and renewed our other loans in the same context. In our responsibility program, we have committed to act to curbing climate change and to promote the transition to a low-carbon society. We provide cleaner energy solutions to our customers and help them to reduce their own carbon footprint and that of their customers.
During the period under review, Gasum Portfolio Services concluded an agreement with Finland’s transmission system operator Fingrid whereby we continue to be responsible for the portfolio management and trading services of Fingrid’s loss power in the grid.
Growing the road fuel gas market is a key element in Gasum’s strategy. During the period under review, we opened three filling stations to meet the needs of heavy-duty transport and three filling stations for passenger vehicles on roads. Adding to the network of gas filling stations supports national emissions reduction targets by helping Nordic transport to switch over to using cleaner fuel solutions. The popularity of gas motoring is growing also in Finland as it is in many other countries in Europe. Gas is a cost-efficient fuel, which can replace traditional fuels and quickly achieve significant emissions reductions.
We have continued preparations for the opening up of the gas market and together with customers and stakeholders have been coordinating regulatory work relating to the Natural Gas Market Act since back in 2017.”
Read more Q3 2019 Financial result >
For further information please contact:
Johanna Lamminen, Chief Executive Officer, Gasum
Phone. +358 20 44 78 661, (Henna Walker, Executive Assistant)
firstname.surname(a)gasum.com
The energy company Gasum is a Nordic gas sector and energymarket expert. Together with its partners, Gasum is building a bridge towards a carbon-neutral society on land and at sea. www.gasum.com.
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