Helen Group’s interim report.

Helen Group’s interim report

The first half of 2020 was exceptional: the weather in the early part of the year was warmer than normal, the hydropower situation was excellent, and the coronavirus pandemic also had an impact on Helen’s operations. The decrease in net sales continued in the second quarter, however, the Group’s operating profit was at the expected level. The business reorganisation continued. Helen Ventures, which was launched last autumn, made a minority investment in a growth company that optimises heat production with the aid of artificial intelligence. New services were launched on the market: for example, the virtual battery in connection with solar power plants, and ground-source heat as an addition to the range of energy solutions for properties. The building of carbon-neutral production continues in several projects.

Helen’s district heat emissions fell by 2.5 per cent in 2019 compared with the previous year. Helen is currently making significant investments in carbon-neutral energy production, and it will achieve a 40 per cent reduction in emissions by 2025 compared with the 1990 levels.

The results for 2020 are estimated to be lower than in the previous year. In addition to the warm start to the year, the expected results are reduced by the electricity market price trends and the uncertainty concerning the economic performance as a result of the coronavirus pandemic.

Read more:

Helen Group’s interim report April–June 2020