Financial statements


The Group’s results improved from the year 2017. The contributing factors to the increase in the net sales were the cost-based changes in the price of district heat and an increase in the electricity market price. Helen Ltd was able to take advantage of the electricity market situation and increase the operating profit with successful measures in the electricity wholesale market.

The net sales and profitability of Helen Electricity Network Ltd also showed an upward trend.   The net sales for 2018 stood at EUR  930 million (EUR 805 in 2017), and the operating profit amounted to EUR 131 million (EUR 81 million in 2017). At 6,578 GWh, the electricity sales volume grew by 7%. At 6,702 GWh, the district heat sales increased by 1% on the previous year. The district cooling energy sales grew by 32% i.e. to 188 GWh.   At 4,414 GWh, the electricity distribution in Helsinki remained at the previous year’s level.

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Report on operations and financial statements (pdf)