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Caruna Group 1 January – 30 June 2023: Caruna continued to invest in Finnish energy transition despite inflation and increasing costs in operating environment
Caruna is committed to investing and developing its electricity network to improve security of supply and enhance Finnish energy transition. However, due to cost increase in network construction and interest rates, Caruna had to monitor its investments more closely, which resulted in postponing some unprofitable investment projects.
Caruna in 2022: the energy crisis raised costs and accelerated the ongoing energy transition
Caruna's operating environment deteriorated significantly in 2022 due to the extraordinary changes taken by the regulator in the middle of the regulatory period and a general increase in costs due to the energy crisis triggered by the Ukraine war. The Group's net sales from January to December amounted to EUR 484.6 (499.8) million, and it invested EUR 133.6 (140.1) million. Net sales before financial expenses decreased in comparison with the previous year. Net financial expenses amounted to 121.0, which is approximately 25 per cent of net sales.
Caruna Group 1 January – 30 June 2022: Significant changes in the operating environment – the energy transition requires development of the electricity network at a rapid rate
Caruna's operating environment deteriorated significantly in the first half of 2022 due to the exceptional tightening measures taken by the regulator in the middle of the regulatory period, as well as the general increase in costs. The alterations to the regulation model will cause the company's permitted returns to decrease by approximately 40 per cent this year in comparison with 2021. The changes will show in the revenues of the years to come. The Group's net sales from January to June amounted to EUR 253.6 (258.9) million, and it invested EUR 58.5 (60.9) million.
Noora Neilimo-Kontio appointed as Caruna's CFO and deputy CEO
Caruna's SVP People, Public Affairs & Regulation, Noora Neilimo-Kontio, MSc (Econ.), was appointed as Caruna's CFO and deputy CEO as of 13 June 2022. She reports to CEO Jyrki Tammivuori.
Jyrki Tammivuori appointed CEO of Caruna as of 13 May 2022
Caruna’s Board of Directors has appointed Jyrki Tammivuori, M.Sc (Econ) CEO of Caruna as of 13 May, 2022. Tammivuori has been working for Caruna since 2015, first as CFO. Since 2018 Tammivuori has held the position of CFO and deputy CEO at Caruna. Tammivuori was appointed Acting CEO of Caruna in March 2022.
Caruna's Annual Report 2021 published
The Caruna Group (Caruna) Annual Report for 2021 has been published at caruna.fi/vuosiraportti2021. The Annual Report contains sections on Corporate Responsibility and Governance and, as separate pdf files, also the ESG indicator section that summarises number data, as well as the financial statements for 2021.
Caruna in 2021: Network reliability was excellent: the electricity supply volume increased, and an increasing number of households switched to solar energy
Caruna continued to modernise the electricity network to match growing electricity consumption and the ongoing energy transition. A smart electricity network combines the growth of electrification and clean energy production, digital services, and consumer involvement in the electricity market. The Group's net sales from January to December amounted to EUR 499.8 (475.3) million, and it invested EUR 140.1 (143.2) million.
More than half of Finns would choose a hybrid or fully electric vehicle as their next car – the pace of the energy transition is accelerating
A citizens' survey shows a clear trend among consumers: more than half (55%) of Finns would choose a hybrid or fully electric vehicle as their next car. People living in South Finland and people aged 25–44 would choose a hybrid or fully electric car more than other age groups. The figures are revealed by a citizens' survey commissioned by electricity distribution company Caruna.
Solar panels for your own home - connection and deploying have been made effortless for the producer
The rays of the early spring sun hit the yard and make you think... Could we also have solar panels? They are easy to acquire and very convenient to connect to the electrical network. At least that's not why you should put the brakes on the purchase of panels!
Electricity distribution company Caruna's business largely meets the criteria of EU Taxonomy for sustainable activities
Caruna has carried out an assessment of the sustainability of its operations concerning mitigation of and adaptation to climate change. According to the assessment, 99.7% of Caruna's net sales and 99.1% of investments are in line with the EU taxonomy for sustainable activities. The assessment was carried out in accordance with the technical screening criteria for assessing the electricity transmission and distribution industry. Sustainability consulting company Third Rock assisted in the assessment.
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