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's activity report 2022

Gren Viru AS (formerly VKG Soojus AS) has been part of the Gren energy companies group since mid-November 2022.

VKG Soojus AS was a subsidiary of Viru Keemia Grupp AS since 2011.

In the summer of 2022, Viru Keemia Grupp decided to separate VKG Soojus from the group's main business as an independent business line during a legal restructuring, as the regulated business differed significantly from the group's main business. VKG Soojus needed a business strategy that met its needs for further development and value growth. After strategic mapping of the company, Viru Keemia Grupp decided to start the sales process of VKG Soojus, which lasted until November 2022, when the shareholders of Viru Keemia Grupp decided to conclude a purchase and sale transaction of VKG Soojus with Gren energy group.

Gren is an energy company whose main activities are energy production in cogeneration plants based on biofuels and waste, and the provision of district heating and cooling and industrial solutions. Gren has been developing district heating services for customers for over 20 years in Pärnu and Tartu. The company operates in the Baltic countries, as well as in Finland and Sweden.

As of December 2022, the company's new name is Gren Viru AS.

The change of ownership and changes in the company's name did not bring about changes in the company's main areas of activity. Gren Viru continues to deal with the transmission and sale of heat energy in the combined network area of Kohtla-Järve city Ahtme, Järve and Sompa districts, Jõhvi city and municipality, and Tammiku settlement and Jõhvi village. The heat energy reaching customers through the heat network is mainly obtained as waste heat from VKG industrial processes.

Gren Viru's district heating network has been awarded the efficient district heating label. From January 1, 2019, new weighting factors apply to energy carriers used in buildings, where the weighting factor for efficient district heating is 0.65. Today, buildings can better meet energy efficiency requirements and achieve a better energy class with efficient district heating.

As of the end of 2022, the number of objects consuming district heating was 1688. Our customers are apartment buildings, private houses, businesses, industries, state and local government institutions such as schools, kindergartens, sports facilities, welfare institutions and many others.

The company operates heat pipelines with a total length of 164 km. The length of the pre-insulated pipeline as of the end of 2022 was 98 km or 60%.

The company owns a peak and reserve boiler house with a capacity of 101 MW, which is located in Ahtme and ensures peak loads in winter and is a reserve for base load. During summer pipeline interruptions, the company also operates the Viru Prison boiler house in Jõhvi, if necessary.

2022 results

Gren Viru's 2022 results were good, the company's financial situation and technical base were strong, and the company operates sustainably. Despite the high volatility of energy carrier prices, we have been able to ensure a competitive district heating price for our customers.

The sales revenue for 2022 was 14,817 thousand euros.

The company's gross profit for 2022 was 2,572 thousand euros, which is in the same order of magnitude as the gross profit for 2021. The operating profit for the year was 1,728 thousand euros.