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Fingrid Oyj: Fingrid Group s Financial Statements Bulletin January-December 2020: the weather significantly affected the formation of the result
Stock exchange release 5 March 2021 at 12:00 noon EET
Fingrid s consolidated financial statements have been drawn up in accordance with the International Financial Reporting Standards (IFRS). Unless otherwise indicated, the figures in parentheses refer to the same period of the previous year. The information published in this report is based on Fingrid s audited financial statements for 2020, published in connection with this bulletin.
Fingrid s financial result for 2020 was weaker than planned, mainly due to exceptionally warm weather. Operatively, the year went according to the plan, despite the coronavirus pandemic. Grid transmission tariffs were kept unchanged in 2020.
The Board of Directors’ proposal to the Annual General Meeting on the maximum dividend to be distributed
Jukka Ruusunen, President & CEO of Fingrid: “Best-ever transmission reliability rate – the exceptionally warm year
affected the result”
In terms of capital expenditure, 2020 was a record-breaking year for Fingrid: we built transmission lines and substations at dozens of worksites. Even during the coronavirus pandemic, the capex projects progressed as planned. As a company critical for the security of supply, we are well prepared for a wide range of exceptional circumstances. Despite the record level of capex activities and the coronavirus pandemic, the main grid operated very reliably. The transmission reliability rate of the grid was the best ever, at 99.99995 per cent.
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