181 0 Kommentare Fingrid Group – Management’s Review 1.1.−31.3.2024

STOCK EXCHANGE RELEASE 25 APRIL 2024 AT 13.30 EET

FINGRID GROUP – MANAGEMENT’S REVIEW 1.1.−31.3.2024

Fingrid follows a six-month reporting period in compliance with the Securities Markets Act and publishes Management’s Reviews for the first three and nine months of the year; the Management’s Reviews contain key information illustrating the company’s financial and other development.

The information presented in the Management’s Review relates to Fingrid Group’s performance in January–March 2024 and the corresponding period of 2023, unless otherwise indicated. The figures presented here have been drawn up in accordance with the International Financial Reporting Standards (IFRS). The Management’s Review is not an interim report in accordance with the IAS 34 standard. The figures are unaudited.

The transmission reliability rate of Fingrid’s grid was high, at 99.99991 (100) per cent. Fingrid transmitted in its grid a total of 80 (76) per cent of the total electricity transmission in Finland.
The company’s investment programme is moving forward as planned, and investments were higher than in the previous year. The company’s estimate of the gross investments for the next four years is approximately EUR two billion. Fingrid’s liquidity remained strong.
528 (481) MW in renewable production capacity was connected to the main grid. Of that volume, wind power accounts for 491 MW and solar power for 37 MW.
Turnover for January–March was significantly higher than in the previous year. The balance service’s share of the company’s turnover was 59 (69) per cent. The increased price of electricity and expansion of operations have raised operating expenses.
Grid service fees were waived in January and February. This, and growing costs, were compensated by recognising EUR 182.3 (88.4) million in congestion income in the company’s result. Balance service fees were reduced as of 1 March 2024.
Operating profit, excluding the change in the fair value of derivatives linked to operational activities, amounted to EUR 119.8 (70.9) million. The company’s allowed profit has risen due to the higher interest rate level and extensive investment programme. Profit before taxes was EUR 81.0 (-80.4) million.