Financial statements

Helen achieved an excellent result due to good commercial operations, although year 2020 was characterised by the coronavirus pandemic and unseasonably mild winter, resulting in a decrease in net sales. The company’s customer numbers grew to a record high level with respect to electricity and heat customers. Helen also continued its investment in carbon-neutral production. The company is progressing resolutely towards its long-term financial and carbon neutrality targets.

Net sales for 2020 stood at EUR 1,054 (1,151) million, a fall on the previous year. The trend in net sales was impacted by the reduced heat sales due to a mild weather, the low price level in the wholesale market and the produced volumes. The net sales and profitability of Helen Electricity Network Ltd fell slightly due to the coronavirus pandemic. The Group’s result was at the previous year’s level, with operating profit amounting to EUR 176 (176) million. 

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Annual report in English and financial statements in Finnish (pdf)