Teollisuuden Voima Oyj's Interim Report January–March 2018

Teollisuuden Voima’s (TVO) electricity generation at Olkiluoto 1 and Olkiluoto 2 plant units continued safely and reliably through the first quarter of 2018. At Olkiluoto 3 EPR, the installation works, process system tests and hot functional testing continued. In March, TVO and the plant supplier consortium companies signed and brought into force a comprehensive settlement agreement concerning the completion of the OL3 EPR project and related disputes. The excavation works of Posiva’s final disposal facility proceeded according to plan.

The consolidated turnover for the period under review January 1–March 31, 2018 was EUR 89.1 (January 1–March 31, 2017: EUR 82.4 million). The amount of electricity delivered to shareholders was 4,095.9 (3,827.5) GWh. The slightly higher delivery volume to shareholders was mainly due to higher delivery volume of the Meri-Pori coal-fired power plant compared to the previous year.

TVO operates on a cost-price principle (Mankala principle). TVO's goal is not to make profit or pay dividends. The shareholders are charged incurred costs on the price of electricity and thus in principle the profit/loss for the period under review is zero, unless specific circumstances dictate otherwise. Because of the Company's operating principle, key indicators based on financial performance will not be presented.

Attachment:
TVO Interim Report January–March 2018

For more information, please contact:
Jarmo Tanhua, President and CEO, Tel. +358 2 8381 2000
Anja Ussa, Senior Vice President, Finance, Tel. +358 2 8381 6100

Teollisuuden Voima Oyj has produced electricity for its shareholders, Finnish industrial and energy companies, safely and reliably for nearly 40 years. Nuclear electricity generated at TVO's Olkiluoto plant covers approximately one sixth, increasing to nearly one third once Olkiluoto 3 is completed, of the electricity consumption in Finland. Climate-friendly nuclear electricity not only benefits society but also reduces the environmental impact of energy production. Moreover, the world's first final disposal facility for spent nuclear fuel is under construction in Olkiluoto.