Company & press releases

St1 has divested its subsidiary, St1 Lähienergia Oy, to Geonova Oy, a company specialized in geothermal heating solutions. The transaction became effective on 11 February 2026.

Energy company St1 has strengthened its commitment to sustainable transport by opening two new liquefied biogas (LBG) refueling points within its station network for heavy-duty transport. The stations, located in Iisalmi and Liminka, bring St1’s network in Finland to a total of seven dedicated LBG stations serving heavy transport.

St1 Suomi Oy has completed the merger of its subsidiary Lämpöpuisto Oy into the parent company. The merger took effect on 31 December 2025, and Lämpöpuisto Oy has ceased to exist as a separate entity. The merger is part of St1’s strategy to clarify and streamline its group structure. The arrangement strengthens St1’s service capabilities, harmonizes processes, and supports closer cooperation with customers and other stakeholders. Lämpöpuisto has been a wholly owned subsidiary of St1 since 2016. As a result of the merger, all operations, responsibilities, and rights of Lämpöpuisto Oy have been transferred to St1 Suomi Oy.

Energy company St1 has completed the rebranding of its retail network, finalising the company’s transition to a One Brand strategy. In Finland, more than 170 Shell-branded stations have been converted into St1 stations, creating a nationwide network of around 470 sites. The rebranding is part of a broader transformation across the Nordic countries, where a total of approximately 630 Shell-branded stations in Finland, Sweden and Norway have now been rebranded as St1. As a result, the Nordic network comprises around 1,250 St1 energy stations. Alongside the rebranding, the company has unified its customer offerings and expanded both its EV charging and heavy-duty biogas networks.

As the global fusion race accelerates, Novatron Fusion Group (NFG) – the only private fusion energy company in the Nordics – is preparing to build a pilot fusion reactor in the Nordic region during the 2030s. A new study conducted by VTT Technical Research Centre of Finland shows that Denmark, Finland, Norway and Sweden all meet the technical requirements to host the facility, but that Finland is the most prepared in terms of regulatory readiness.

St1 Suomi Oy will merge its subsidiary, Lämpöpuisto Oy. The merger is expected to be completed by 31 December 2025. The merger plan was registered with the Finnish Patent and Registration Office (PRH) on 28 August 2025. Lämpöpuisto has been a wholly owned subsidiary of St1 since 2016. The arrangement supports St1’s strategy to streamline its group structure, strengthen its service capabilities, and enhance long-term collaboration with various stakeholders.

Consolidated key figures 1.1.-30.6.2025 1.1.-30.6.2024 2024 Net sales, MEUR 3,511.9 4,150.8 7,960.7 Operating profit/loss, MEUR -5.3 148.4 171.9 Operating profit as % of net sales -0.2 3.6 2.2 Profit/loss for the financial period, MEUR -3.4 116.4 131.7 Return on equity, % -0.5 16.6 9.4 Equity ratio 54.9 55.0 57.2 The St1 Nordic Group's net sales for the first half of 2025 amounted to EUR 3.5 billion, which was approximately EUR 0.6 billion lower than the same period last year. The decrease in net sales was due to the lower prices of oil products and a partial maintenance shutdown at our Gothenburg oil refinery. In the retail market, volumes decreased slightly, while the marine fuel volumes increased significantly. The geographical distribution of net sales remained similar to previous years, with 20% of net sales coming from Finland, 52% from Sweden, 27% from Norway, and less than 1% from the United Kingdom. Operating profit was EUR -5.3 million, which was EUR 153.7 million lower than the previous year. Profit after tax was EUR -3.4 million, compared to EUR 116.4 million last year. The refining margin was significantly lower than last year, mainly due to market conditions but also the partial maintenance shutdown at our oil refinery. Inventory and valuation differences negatively impacted results in the first half of this year, whereas the impact was positive in the comparison period. There was an oversupply in the renewable diesel and aviation fuel markets in the early part of the year. The outlook on the different markets is significantly more positive for the remainder of the year. Cash flow from operations was EUR 137.4 million. Investments totalled EUR 117.3 million. The largest investments were directed to the partial maintenance shutdown at our refinery, the conversion of our Shell-branded retail station network to the St1 brand in line with St1's One brand strategy, and new electric vehicle charging points in our network. Additionally, St1 invested in the Novatron Fusion Group, which is developing fusion energy. The Group's equity was strong at the end of the period at EUR 1,369.0 million, and the equity ratio was 54.9. The Annual General Meeting of St1 Nordic Oy authorized the Board of Directors to acquire the company's own shares, and the Board decided to acquire the offered 219,420 shares. Henrikki Talvitie, St1 Nordic Oy’s CEO: In the first half of the year, we continued advancing our major energy transition projects, including transition investments at our oil refinery in Gothenburg and Biorefinery Östrand in Sweden, which is our major low-emissions fuel development project launched in partnership with SCA. We also continued to develop our energy transition roadmap, which has the primary target of growing our low-emissions energy portfolio. Investments in the Nordic site network Our One Brand strategy reached its implementation phase in April, when we started consolidating our retail operations under the St1 brand across the Nordic countries. St1’s One Brand strategy includes rebranding our approximately 630 Shell-branded stations to St1. By the end of the year all our 1,250 St1 stations form a unified Nordic energy distribution network. This investment supports our energy transition roadmap and strengthens our ability to introduce more and more low-emissions energy products to our customers. During the first half of the year, we have continued to expand our EV charging and biogas distribution. We opened 36 new EV charging sites, and charging is now already available at 175 of our stations in Finland, Norway, and Sweden. We strengthened our liquified biogas distribution network (LBG) by 4 new sites in Finland and Sweden. Our first energy station primarily serving electric vehicle drivers was opened in Oslo, Norway, offering EV charging, a car wash, and a convenience store. Strengthening our low-emissions energy portfolio In February, we entered into a strategic, long-term partnership with Novatron Fusion Group (NFG) to accelerate the development of commercial fusion energy. This collaboration aims to reduce society's dependence on fossil fuels while meeting future energy demands. St1 has taken on the role of lead investor and a new board member following an investment of EUR 13 million in NFG, aiming to provide long-term value as well as business, industrial and regulatory expertise. Our first solar park at Risholmen, Gothenburg, started supplying energy to the grid in June. The park, consisting of 15,777 solar panels, is estimated to produce 8.5 GWh per year, equivalent to the electricity consumption of approximately 3,500 households. Energy transition remains our most important sustainability topic. To drive sustainable growth, we rely on science, data-driven management, agility, and cost-efficiency as key enablers. We will continue to invest in and strengthen our capabilities in this area. Unaudited financial information: St1 Nordic Oy Interim Report 06/2025, including: Consolidated income statement 1.1.2025-30.6.2025, 1.1.2024-30.6.2024, 1.1.2024-31.12.2024 Consolidated balance sheet 30.6.2025, 31.12.2024 Consolidated cash flow statement 1.1.2025-30.6.2025, 1.1.2024-31.12.2024 St1 Nordic Oy will publish its financial statements release for 2025 on 31 March 2026.

Shell Ylöjärvi will become St1’s first energy station in Finland dedicated primarily serving electric vehicle (EV) drivers. The sale of liquid fossil fuels at the site will end on August 15. Despite the end of fuel distribution, the HelmiSimpukka restaurant and Car Wash services will continue to operate as usual.

Shell branded stations are getting a new look this summer as St1 transitions to a One Brand strategy.

Shell branded stations are getting a new look this summer as St1 transitions to a One Brand strategy.