Financial statements

Helen Group’s results exceeded the forecast level, but remained clearly below the previous year’s level. The drop in the operating profit was mainly due to the low market price of electricity, a lower electricity sales volume and increased fuel costs.

The net sales for 2016 stood at EUR 782 million (EUR 746 million) and the operating profit at EUR 75 million (EUR 110 million). District heat sales grew by 10% on the previous year’s level to 6,633 GWh. At 6,649 GWh, the electricity sales volume fell by 7% on the previous year. District cooling energy sales grew by 13% on the previous year to 141 GWh. Electricity distribution in Helsinki increased by 2% to 4,424 GWh.

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Report on operations and financial statements (pdf)