ST1 NORDIC OY, FINANCIAL STATEMENTS RELEASE 2018

Consolidated key figures 20182017 Pro forma2017  unaudited  Net sales, MEUR6,885.26,534.45,093.5 Operating profit/loss, MEUR63.1263.1176.6 Operating profit as % of net sales0.94.03.5 Profit for the financial period, MEUR55.3209.1372.8 Return on equity, %7.0 23.4* Equity ratio40.7 42.7 *) excluding merger gain as per the income statement   In 2018, the St1 Nordic group encompasses all St1...

Helsinki, 29/03/2019 (informazione.news - comunicati stampa - energia)

Consolidated key figures

Henrikki Talvitie, CEO of St1 Nordic Oy:

2018 was an active year at St1. We restructured our organisation into clear Nordic areas of responsibility, which streamlines the group's operations and enables growth.

At the beginning of December, we completed the acquisition of Norwegian Statoil Fuel & Retail Marine AS after the competition authority's approval. The transaction strengthens St1's foothold in Norwegian marine fuels. St1 Finance, provider of credit card and payment institution services, started operations also in Norway with the launch of the St1 Mastercard, which is already in use in Sweden and Finland.

Our renewable energy development projects are strongly featured. The Cellunolix biorefinery using sawdust as raw material is in operation in Kajaani, but the development of the plant's pre-treatment phase continues. The development is an important stage and condition for the construction of the following larger plants. In Otaniemi, Espoo, the project for another pilot plant intended for geothermal heat production, advanced to the water stimulation phase in the summer of 2018. In the stimulation, water flow in rock fissures was tested. The analysis of the stimulation phase will be completed during the spring, when the continuation of the project will be decided on. In Thailand, the pilot project to produce ethanol from cassava waste has progressed well, and the pilot plant is used in several starch production plants to test different environments, conditions and seasonal fluctuations. St1 Nordic's associated company, TuuliWatti Oy, has started construction on a new wind farm in Viinamäki, Ii. The park consists of five 4.2-MW wind turbines and is the first Nordic wind power investment of this scale to be fully implemented without public support.

The largest investment project under preparation is the construction of a renewable diesel plant at St1's oil refinery in Gothenburg. We expect to make the investment decision on the plant, producing 200,000 tonnes of renewable diesel annually, in the first half of the year. At the moment, a maintenance shutdown conducted every four years is underway at the Gothenburg refinery.

In the autumn, we started a three-year afforestation pilot in Morocco, which measures carbon sequestrating by trees under different controlled conditions. The goal of the pilot is to find the optimal solution for the use of land improvement and irrigation systems in cost-effective forest growth and carbon sequestrating in arid and deserted areas. In the fight against climate change, there is a critical need to rapidly establish legislation in which proven carbon sinks can be counted towards meeting a company's emission reduction obligation in a standardised manner that is globally duplicable. 

Financial information:

Financial statements including auditor's report

St1 Nordic Oy will publish an integrated report on 30 April 2019 and the first-half interim report on 30 August 2019.

For more information, please contact:

Kati Ylä-Autio, CFO +358 10 557 5263

Henrikki Talvitie, CEO +358 10 557 11

 

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