Core Viewpoint - Fingrid's financial performance in the first quarter of 2025 showed a decline in turnover compared to the previous year, but improvements in net cash flow and a strong financial position were noted, alongside significant developments in the electricity market and infrastructure [2][4][9]. Financial Performance - Turnover for January–March 2025 was €370.7 million, down 21.6% from €472.9 million in the same period of 2024 [3]. - Operating result was €119.5 million, slightly down from €119.8 million year-on-year [3]. - Result before taxes decreased to €115.9 million from €118.1 million [3]. - Net cash flow from operations surged to €220.8 million, a 502% increase from €36.7 million [3]. - The result for the period improved to €81.6 million from €64.9 million, marking a 25.7% increase [3]. Operational Highlights - Electricity consumption in Finland decreased to 23.8 TWh from 24.6 TWh, attributed to a mild winter [4][9]. - Fingrid's transmission accounted for 79.0% of Finland's total electricity consumption, transmitting 18.8 TWh [9]. - The system security rate remained high at 100% [3][4]. - Renewable production capacity connected to the main grid was 432 MW, down from 528 MW [3][9]. Market Developments - The transition to a 15-minute electricity market progressed, with the new market time unit introduced successfully in January and March [9]. - The Nordic mFRR energy action market was rolled out, experiencing significant price volatility [9]. - Fingrid's share of accrued congestion income was €71.4 million, down from €75.0 million [4]. Capital Expenditure and Investments - Fingrid estimates gross capital expenditure of approximately €1.7 billion from 2025 to 2028, with €623 million already committed [4]. - Capital expenditure for the first quarter was €93.0 million, up 20.8% from €77.0 million [3]. Legal and Regulatory Matters - Fingrid has appealed against the Energy Authority's decisions regarding balance service terms and profit specification methods for electricity transmission operations [11][12]. - Ongoing legal proceedings concern the connection of the Olkiluoto 3 nuclear power plant to the grid, with Fingrid asserting compliance with its obligations [13]. Governance and Leadership - The Annual General Meeting approved the financial statements for 2024 and decided on dividend distribution, with Eeva-Liisa Virkkunen elected as the new Chair of the Board [17].

Core Insights - VINCI, through its subsidiary Cobra IS, has signed the first public-private partnership (PPP) contract for electricity transmission in Australia with the New South Wales (NSW) Government [1][2] Group 1: Project Overview - The 35-year PPP involves financing, design, construction, operation, and maintenance of 240 km of 330 kV and 500 kV transmission lines, along with eight substations and infrastructure connecting to renewable energy plants [2][7] - The project aims to deliver 4.5 GW of new network capacity by 2028, sufficient to power 2 million homes [2] Group 2: Economic and Employment Impact - This initiative is part of the first Renewable Energy Zones (REZ) designated by the NSW government to replace coal-fired power plants, expected to create around 5,000 jobs during peak construction [3] - The project is anticipated to attract up to AUS$20 billion in private investment into the region by 2030 [3] Group 3: Company Expertise - Cobra IS has established expertise in electricity transmission, particularly in Brazil, and is now applying this knowledge in the Australian market [4]