Segment structure in TVO Group
The Group has two reportable segments; nuclear power and coal power.
The electricity of the nuclear power segment is produced at two nuclear power plant units, Olkiluoto 1 and Olkiluoto 2 (OL1 and OL2). A new unit, Olkiluoto 3 (OL3), is under construction at Olkiluoto. The subsidiary of TVO, TVO Nuclear Services Oy (TVONS), of which operation is related to nuclear power, is also included in the nuclear power segment.
The electricity of coal-fired power segment is produced by TVO share at the Meri-Pori coal-fired power plant. Fortum will be entitled to use TVO's share of the Meri-Pori capacity as of the beginning of 2019, and TVO will relinquish its share in Meri-Pori in full in the beginning of July 2020.
Segment calculation principles
TVO Group discloses in the segment information; turnover, depreciation and impairment charges, finance income and expenses, profit/loss for the year and assets, which the chief operation decision maker follows.
The chief operation decision maker follows reporting according to Finnish Accounting Standards (FAS). Adjustments made under IFRS accounting policies are reported in group level.
Turnover by segments
| Nuclear power | 305 842 | 307 561 |
| Coal-fired power | 44 429 | 13 367 |
| Total | 350 271 | 320 928 |
Depreciation and impairment charges by segments
| Nuclear power | 43 498 | 43 224 |
| Coal-fired power | 9 153 | 7 798 |
| Depreciation and impairment charges (FAS) | 52 651 | 51 022 |
| The impact of the nuclear waste management obligation | 2 461 | 3 335 |
| Other IFRS adjustments | 69 | 28 |
| Total (IFRS) | 55 181 | 54 385 |
Finance income and expenses by segments
| Nuclear power | 430 | 483 |
| Coal-fired power | -322 | -78 |
| Finance income and expenses (FAS) | 108 | 405 |
| The impact of the nuclear waste management obligation | 35 263 | 31 381 |
| The impact of financial instruments | -335 | -37 |
| Other IFRS adjustments | -771 | -1 107 |
| Total (IFRS) | 34 265 | 30 642 |
Profit/loss for the financial year by segments
| Nuclear power | 6 155 | 10 597 |
| Coal-fired power | -4 240 | -3 402 |
| Profit/loss before appropriations (FAS) | 1 915 | 7 195 |
| The impact of the nuclear waste management obligation | -22 564 | -19 032 |
| The impact of financial instruments | 335 | 37 |
| Other IFRS adjustments | 701 | 1 079 |
| Share of the profit/loss of joint ventures | 1 387 | 1 290 |
| Total (IFRS) | -18 226 | -9 431 |
Assets by segments
| Nuclear power | 6 606 883 | 6 266 653 |
| Coal-fired power | 12 525 | 5 744 |
| Total (FAS) | 6 619 408 | 6 272 397 |
| The impact of the nuclear waste management obligation | 1 006 169 | 1 029 849 |
| The impact of financial instruments | 2 070 | 12 348 |
| The impact of finance leases | 53 166 | 54 889 |
| Other IFRS adjustments | -23 421 | -19 611 |
| Share of the profit/loss of joint ventures | 4 978 | 3 591 |
| Total (IFRS) | 7 662 370 | 7 353 463 |
Trade receivables by segments
| Nuclear power | 15 035 | 13 440 |
| Coal-fired power | 3 426 | 190 |
| Total (FAS) | 18 461 | 13 630 |
| Total (IFRS) | 18 461 | 13 630 |
Group-wide disclosures
Turnover shared to production of electricity and services
| Production of electricity | 345 702 | 316 171 |
| Services | 4 569 | 4 757 |
| Total | 350 271 | 320 928 |
Trade receivables shared to production of electricity and services
| Production of electricity | 17 457 | 13 305 |
| Services | 1 004 | 325 |
| Total | 18 461 | 13 630 |
Information about geographical areas
Teollisuuden Voima Oyj is company owned by Finnish industrial and power companies. TVO delivers electricity to its shareholders at cost price (so-called Mankala principle) , i.e. delivers the electricity produced to its shareholders in proportion to their shareholdings in each series.
The Group assets are located in Finland except part of inventories of nuclear fuel acquisition.
