St1 Nordic -group’s interim financial statements, the turnover for the first half of 2024 was 4.2 billion euros. Turnover was almost at the same level as the previous year. 20 percent of the company’s turnover came from Finland.
The company’s operating profit was 149.3 million euros, which was 112.8 million euros more than at the same time last year.
The result after taxes was 116.4 million euros, while the previous year’s result was 28.8 million euros.
The previous year’s result was negatively affected by the maintenance shutdown of the Gothenburg refinery in the second quarter of 2023. Inventory and valuation items, in turn, had a positive effect on the result in the first half of this year.
The biorefinery opened in Gothenburg at the beginning of the year produces renewable fuels, but the refinery’s profit impact was still small. The competitive situation in the retail and direct sales markets continued to be challenging.
The biggest investments were in the station network, new electric charging points and biogas stations. In addition, investments were made in a solar power plant in the area of the Gothenburg refinery and in the development of IT infrastructure.
The group also invested in growing the biogas business. Investments totaled EUR 97.6 million.
“Several renewable energy investments have become concrete as we put new production facilities and distribution network into operation. The past year has also laid the groundwork for future growth, especially in the biogas business,” he says Henrikki TalvitieCEO of St1 Nordic in the press release.
As part of its energy transition, St1 is also investing in the development of the distribution network this year. In addition to biogas, this includes renewable HVO diesel and the construction of a high-efficiency electric charging network.