Key figures
| TVO Group (IFRS) (MEUR) | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Turnover | 897 | 876 | 358 | 299 | 275 |
| Profit/loss for the financial year (5 | 82 | 106 | -48 | -20 | 0 |
| Research expenses | 16 | 14 | 10 | 12 | 12 |
| Investments (1 | 91 | 461 | 312 | 578 | 56 |
| Equity | 2,278 | 2,252 | 2,218 | 2,063 | 2,043 |
| Subordinated shareholder loans (hybrid equity)(included in the former) 3) | 629 | 929 | 929 | 929 | 929 |
| Non-current and current interest-bearing liabilities (excluding loan from VYR) 2) 6) | 4,613 | 4,676 | 4,831 | 4,337 | 4,281 |
| Loan from VYR 2) | 728 | 728 | 651 | 711 | 716 |
| Provision related to nuclear waste management | 1,336 | 1,289 | 1,294 | 1,368 | 1,030 |
| Balance sheet total | 9,126 | 9,229 | 9,171 | 8,662 | 8,181 |
| Equity ratio (%) 4) | 32.3 | 31.2 | 30.7 | 31.3 | 31.7 |
| Average number of personnel | 1,095 | 1,057 | 1,031 | 1,004 | 984 |
1) Acquisitions of property, plant and equipment, intangible assets and shares are based on gross investments.
2) The Finnish State Nuclear Waste Management Fund (VYR)
3) Subordinated loans
4) Equity ratio = 100 x ((equity + loans from equity holders of the company) / (balance sheet total - provision related to nuclear waste management -loan from the Finnish State Nuclear Waste Management Fund))
4) During the accounting period 2012, the terms of the loans of the equity holders of the Company have been changed and the loans are included in equity according to IFRS standards.
5) Financial Statements for 2023 restated. See Financial Statements 2024.
6) Transfer between items. See Financial Statements 2024. Financial Statements for 2023 restated.
CONSOLIDATED ADJUSTED PROFIT/LOSS FOR THE FINANCIAL YEAR (MEUR)
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Profit/loss for the financial year (IFRS)1) | 82 | 164 | -48 | -20 | 0 |
| The impact of the nuclear waste management obligation 1) (profit -/loss +) | -6 | -13 | 36 | 17 | 6 |
| Other IFRS adjustments (2 | 9 | 25* | 0 | 0 | 0 |
| The impact of joint ventures | -1 | 0 | 2 | -1 | 3 |
| Profit/loss before appropriations | 84 | 118 | -10 | -4 | 9 |
| Adjusted profit/loss for the financial year | 84 | 118 | -10 | -4 | 9 |
1) Financial Statements for 2023 restated. See Financial Statements 2024
2) Includes profit/loss effects from nuclear waste management according to IFRS standard.
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| TVO's share in the Finnish State Nuclear Waste Management Fund (VYR) (MEUR) | 1,525 | 1,458 | 1,436 | 1,451 | 1,479 |
| TVO's funding target obligation to the Finnish State Nuclear Waste Management Fund (MEUR) | 1,438 | 1,525 | 1,458 | 1,436 | 1,451 |
| The carrying value of TVO's share in the Finnish State Nuclear Waste Management Fund (non-current assets) (MEUR) | 1,081 | 1,035 | 1,000 | 1,010 | 1,030 |
The difference between the funding target and the share in the Finnish State Nuclear Waste Management Fund at the end of each year is due to the funding target being completed by paying the nuclear waste management fee only during the first quarter of the following year.
Key Figures of Teollisuuden Voima Oyj
The parent company's financial statement has been prepared in accordance with the Finnish Accounting Standards (FAS).
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Turnover | 895 | 873 | 353 | 294 | 271 |
| Profit/loss before appropriations | 83 | 118 | -10 | -4 | 8 |
| Fuel costs | 110 | 111 | 70 | 61 | 64 |
| Nuclear waste management costs | -17 | 106 | 100 | 41 | 28 |
| Capital expenditure (depreciation and financial income and expenses) | 351 | 266 | 37 | 38 | 34 |
| Investments 1) | 68 | 449 | 339 | 220 | 52 |
| Equity | 1,164 | 864 | 864 | 861 | 861 |
| Appropriations | 383 | 299 | 181 | 193 | 197 |
| Non-current and current interest-bearing liabilities (excluding loan from VYR and loans from equity holders of the company) 2) | 4,457 | 4,610 | 4,798 | 4,277 | 4,180 |
| Loans from equity holders of the company 3) | 629 | 929 | 929 | 929 | 929 |
| Loan from VYR | 728 | 728 | 651 | 711 | 716 |
| Balance sheet total | 7,625 | 7,714 | 7,602 | 7,156 | 6,995 |
| Equity ratio (%) 4) | 31.6 | 30 | 28.4 | 30.8 | 31.7 |
| Average number of personnel | 1,092 | 1,055 | 1,029 | 1,002 | 983 |
1) Acquisitions of property, plant and equipment, intangible assets and shares are based on gross investments.
2) The Finnish State Nuclear Waste Management Fund (VYR)
3) Subordinated loans
4) Equity ratio % = 100 x ((equity + appropriations + loans from equity holders of the company) /
(balance sheet total - loan from the Finnish State Nuclear Waste Management Fund))
ELECTRICITY DELIVERED TO EQUITY HOLDERS OF THE COMPANY (GWh)
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Olkiluoto 1 | 6,939 | 7,417 | 6,918 | 7,393 | 7,299 |
| Olkiluoto 2 | 6,602 | 6,855 | 7,522 | 7,021 | 7,264 |
| Olkiluoto 3 | 9,681 | 10,361 | 1,876 | 0 | 0 |
| Total Olkiluoto | 23,222 | 24,633 | 16,316 | 14,414 | 14,563 |
| Meri-Pori | 0 | 0 | 0 | 0 | 82 |
| Total | 23,222 | 24,633 | 16,316 | 14,414 | 14,645 |
CAPACITY FACTORS (%)
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Olkiluoto 1 | 89.1 | 95,4 | 89.1 | 95.1 | 93.7 |
| Olkiluoto 2 | 84.8 | 88,3 | 96.8 | 90.4 | 93.3 |
| Olkiluoto 3 | 70.4 | 75,2 | 16.9 | - | - |
| Total capacity factor1 | 79.0 | 82.8 | 67.6 | 92.8 | 93.5 |
| TVO SHARE OF THE ELECTRICITY USED IN FINLAND (%) | 28.0 | 30.8 | 19.9 | 16.8 | 18.1 |