Company information & Key Figures

St1 Nordic Oy is a privately owned Nordic energy Group whose vision is to be the leading producer and seller of CO₂-aware energy.

Company structure

St1 focuses on fuels marketing activities, oil refining and renewable energy solutions such as waste-based advanced ethanol fuels and industrial wind power. The group has 1400 St1 and Shell branded retail stations in Finland, Sweden and Norway. Headquartered in Helsinki, St1 employs currently some 750 people in Finland, Sweden and Norway.




Associated Companies

Our operations are strengthened by strategic long-term partnerships in various areas.

North European Oil Trade Oy is a significant independent fuel supply company in the Baltic region.

TuuliWatti Oy is the leading operator in industrial wind power in Finland.

Aviation Fuelling Services Norway AS is an aviation fuelling services provider in the Norwegian market.

St1 Value Chain

While fossil fuels are still our main source of income, it allows us to build world-class expertise in introducing more and more renewable energy to the market. Our customers benefit from the competitive edge we gain by managing the complete value chain from raw materials and energy sources to service at the pump.


St1 as a Corporate Citizen

St1 Nordic’s Corporate Responsibility

A responsible company must ambitiously take in the big picture at all times. We must keep abreast of what’s going on in the world and understand what clients will need in the future. We base our growing energy business in Nordic society values. As a Nordic corporate citizen, we believe in transparency, fairness, responsibility, equal opportunities and social security - resulting in equal education and health care.

St1’s vision is to be the leading producer and seller of CO₂-aware energy. While fossil fuels are still our main source of income, it allows us to build world-class expertise in introducing more and more renewable energy to the market

The key enablers of our solid performance are our world-class people, partners, business technology, financing services, and cash flow together with our return on equity. Our financial performance enables new sustainable investments in renewable energy. Passion for replacing fossil fuels also powers our research and development of new, sustainable and innovative CO₂-aware energy solutions. Our customers benefit from the competitive edge we gain by managing the complete value chain from raw materials and energy sources to service at the pump.

Based on such an understanding and on demand, we are solving global energy challenges by taking steps in a direction where we move ourselves from a fossil world into a renewable world. We try to ensure that everything we do in our whole value chain is based on world-conquering mentality and passion.

2017 Investments Personnel costs  Excise and property taxes  Income taxes
Finland 51,8 M EUR 23,4 M EUR 681,0 M EUR 10,1 M EUR
Sweden 34,4 M EUR 32,9 M EUR 796,8 M EUR 26,0 M EUR
Norway 17,1 M EUR 15,7 M EUR 638,6 M EUR 15,6 M EUR

Key Figures / St1 Nordic Group

St1 Nordic Group 2017 proforma unaudited 2017 2016 2015 2014 2013
Net sales, MEUR 6540.7 5099.8 4390.4 3602.4 2720.8 1678.0
Operating profit/loss, MEUR  263.1 176.6 150.5 86.7 45.3 32.9
Operating profit, % of net sales 4.0 3.5 3.4 2.4 1.7 2.0
Profit for the period, MEUR 209.1 372.8 112.7 72.4 38.2 25.8
Return on equity, %   23.4  30.9 28.0 24.0 23.1
Equity ratio   42.7 31.3 26.7 28.3 25.0



Financial reports 2017 / St1 Nordic Group

Key Figures / St1 Group

Market Positions

St1 has strong market positions in all countries we operate in.

At the end of 2017, our retail station network consisted of 1370 sites. In Finland there were 219 Shell-branded and 258 St1-branded stations in operation, and in Sweden 201 Shell stations and 288 St1 stations. In Norway there was a total of 404 Shell stations.

Market Shares 2017 Finland Sweden Norway
Petrol 21.9 19.0 23.4
Diesel 18.7 14.6 21.5
Light Fuel Oil 23.2 22.4  
Marine Gas Oil     23.9

St1 Nordic Corporation - Investor Relations

Outstanding bonds

St1 Nordic Corporation, a privately owned company, has issued a senior unsecured EUR 100 million bond. St1 Nordic Corporation's first bond was listed on 9th of June 2014 on the First North Bond Market Finland operated by NASDAQ OMX Helsinki Oy.

Commercial paper programme

St1 Nordic has launched a EUR 150 million commercial paper program. Funds will be used for short-term working capital purposes. Danske Bank and Nordea act as dealers of the programme.


3 April 2018 - Financial Statements Release for the year 2017

30 April 2018 - Publication of the Integrated Report 2017

31 August 2018 - Publication of January – June 2018 Interim Report


If you have any questions regarding the business or investor relations activities of St1 Nordic Corporation, please do not hesitate to contact us.

St1 Nordic Oy
P.O. Box 100, Purotie 1
FI-00381 Helsinki, Finland

Kati Ylä-Autio, CFO,, +358 10557 5263
Liisa Joenpolvi, Communications Manager,, +358 10557 2419


Articles of Association

Unofficial translation

1 § The name of the company is St1 Nordic Oy; in Swedish, St1 Nordic AB; and in English, St1 Nordic Corporation.

2 § The company domicile is Helsinki.

3 § The sphere of operations of the company is trade, storage and manufacturing of fuels, owning of shares and holdings in companies in the energy sector or engaged in operations supporting or serving same, as well as providing and selling professional, finance, marketing and administrative services. The company may own shares or holdings in companies or entities, real estate, machinery and equipment and to buy, sell or lease the same, and sell, govern and rent patent, product and other immaterial rights.

4 § Shares

The company’s shares are divided into A and B shares. In the General Meeting each A-share provides the right to vote with one (1) vote. B-shares do not provide the right to vote.

B-shares do not hold the rights mentioned in Companies Act Chapter 3, section 4, subsection 1, paragraphs 1 and 2. In addition, B-shares do not hold right to participate in decision making at the General Meetings nor other administrative rights. Accordingly, B-shares are not taken into account when calculating the majority needed in the Company’s General Meeting’s decisions according to Companies Act Chapter 3, section 4, subsection 1, paragraph 3.

In dividend payout, an A-share holds the right to for single dividend and a B-share for a 5-fold dividend. 

5 § The company shall have a Board of Directors with one (1) to five (5) regular members, and at least one (1) deputy member if fewer than three (3) regular members are elected. Members of the Board of Directors are elected for an indefinite term of office.

6 § The Board of Directors collectively, the chairman of the Board of Directors and the CEO both severally, and members of the Board of Directors two together, shall sign for the company. The Board of Directors may also assign a procuration or authorisation to sign for the company to specific individuals.

7 § The company shall have one regular auditor and one deputy auditor. If an Authorised Public Accountant firm is elected as auditor, a deputy auditor need not be elected. Auditors are elected for an indefinite term of office.

8 § A summons to a meeting of shareholders shall be sent no earlier than two (2) months before and no later than one (1) week before the meeting in writing to each shareholder whose address is known to the company.

9 § The Annual General Meeting shall be held each year within six (6) months of the end of the previous financial year, on a date determined by the Board of Directors.

At the Annual General Meeting, the following shall be decided:

    1. adopting the financial statements,
    2. disposing of the profit shown on the balance sheet,
    3. discharging from liability the members of the Board of Directors and the CEO,
    4. if necessary, electing the Board of Directors and the auditor.

10 § If a company share is transferred to a third party from a shareholder other than the company itself, any shareholder and the company shall be entitled to redeem such a share.

Primary right of redemption shall rest with shareholders. If more than one shareholder wish to exercise their right of redemption, the shares transferred shall be divided among such shareholders in proportion to their current holdings. If it is not possible to divide the shares evenly, any shares left over shall be distributed among such shareholders by the drawing of lots. The company shall have the right of redemption if no shareholders wish to redeem the transferred shares.

In all other respects, the provisions of the Limited Liability Companies Act shall apply to the redemption of shares.

11 § Redemption of B-shares
B-shares can be redempted by the company at any time from their shareholders. The redemption price is the original issue price. The redemption takes place by notifying the shareholder or his successor in title about the redemption demand in writing. The Company may use unrestricted or restricted equity for the redemption. The Company’s Board decides on further details of the redemption procedure if necessary.

Code of Business Conduct

The professional competence of the management personnel of St1 is the company's greatest asset. Expertise and commitment will ensure the company's competitiveness and ensure its prosperity in the long term. The company management and personnel are responsible for developing adopting and implementing plans and functions to attain the company's goals. Attaining goals is important, but so are the means for attaining them. The company management and personnel are expected to comply with the highest principles of business ethics.

St1 Nordic Oy Management

Henrikki Talvitie

St1 Nordic Oy

Mika Wiljanen

St1 Oy, St1 Norge AS,
St1 Finance Oy
Director, Sales

Hilde Wahl

St1 Sverige AB,
Director, Brands

Jari Suominen

St1 Renewable Energy

Kati Ylä-Autio


Mika Aho

Director, Public Affairs

Timo Jokinen

Director, Supply & Logistics

Bo-Erik Svensson

St1 Supply AB
St1 Refinery AB

Board of Directors

Mika Anttonen

Chairman of the Board of Directors
St1 Nordic Oy

Mikko Koskimies

Managing Director
eQ Varainhoito Oy

Kim Wiio

Mininvest Oy