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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.
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Second part of Caruna Oy's price increase to take effect from 1 August 2023

As cost increases have continued, Caruna will implement the second part of the projected price increase from 1 August 2023 in Caruna Oy. The price increase was split into two parts to mitigate the impact of the increases on customers, especially given the high energy costs in winter. The first part of the price increase took effect from 1 January 2023.
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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.
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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.

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Caruna in 2020: We made further improvements to our procedures for designing, building and renovating the electricity network for our customers

The electrification of society, the increase of renewable energy production and electric transportation require a strong and smart electricity network to support Finland's carbon neutrality goals by 2035. In 2020, Caruna carried out long-term work to upgrade its electricity network, taking the increasing future need for electricity into consideration.
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