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2021-07-27

FINGRID GROUP’S HALF-YEAR REPORT 1.1.-30.6.2021

Fingrid Oyj
Stock Exchange Release 27 July 2021 at 12:00 noon EET

FINGRID GROUP’S HALF-YEAR REPORT 1.1.-30.6.2021

Fingrid’s consolidated financial statements have been drawn up in accordance with the International Financial Reporting Standards (IFRS). This half-year report has been drawn up in accordance with the IAS 34 Interim Financial Reporting standard and complies with the same accounting principles as those presented in the Group’s financial statements for 2020. This half-year report is unaudited. Unless otherwise indicated, the figures in parentheses refer to the same period of the previous year.

The graphs and clarifying texts of the half-year report are available in the attached PDF file.

  • Turnover grew significantly due to the higher price of electricity than in the comparison period, and this directly affected the increase in the price of imbalance power. The higher price of imbalance power is also reflected in the higher imbalance power costs.
  • The Group’s operating profit, excluding the change in the fair value of derivatives, increased as grid service income and cross-border transmission income grew. Profit for the period was also affected by the positive change in the fair value of electricity derivatives hedging the loss power procurement.
  • Fingrid’s operations continued according to plan, despite the coronavirus pandemic.
  • Finland’s electricity consumption during the period amounted to 43.9 (41.7) terawatt hours. Fingrid transmitted 36.0 (34.3) terawatt hours of electricity in its grid, representing 76.2 (75.8) per cent of the total transmission volume in Finland (consumption and inter-TSO).
  • Fingrid’s transmission reliability rate in January–June was 99.99999 (99.99992) per cent.

 KEY FIGURES 1-6/211-6/20change %1-12/20
 TurnoverMEUR465.7343.435.6682.5
 Capital expenditure, grossMEUR86.070.322.4169.7
 - of turnover%18.520.5 24.9
 Personnel costsMEUR17.016.34.231.2
 Operating profit excluding the change in the fair value of derivativesMEUR100.570.941.7115.4
 - of turnover%21.620.6 
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