Fortum Oyj

FORTUM

Equity

ISIN FI0009007132 / Valor 899736

NASDAQ Helsinki Ltd, Equities (2024-12-23)

EUR 13.22+0.72%

Fortum Oyj
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About company

Fortum Oyj is a prominent Nordic energy company engaged in the generation, distribution, and sale of electricity and heat, as well as the provision of various energy-related services. The company focuses on producing clean energy, primarily through hydroelectric and nuclear power sources, positioning itself as one of Europe's cleanest energy producers. Fortum's operations are centered in the Nordics, where it aims to meet the increasing demand for energy with efficient and CO2-free power generation. In addition to energy production, Fortum offers solutions in power trading, energy supply, waste management, operation and maintenance (O&M) upgrades, decommissioning and dismantling, and smart solutions for businesses. A notable aspect of its service portfolio includes innovative approaches to battery recycling, where it claims to significantly recover valuable metals from lithium-ion batteries, enhancing resource efficiency.

Summarized from source with an LLMView SourceSector: Energy

Revenue and Sales

In the first quarter of 2024, Fortum Oyj reported sales of EUR 2,015 million, a decrease from EUR 2,265 million in the same period of the previous year. This decline in sales is attributed to lower power prices in the Nordics, despite the company's solid performance and good results overall.

Operating Profit

Fortum Oyj's operating profit for the January-March 2024 period was EUR 571 million, down from EUR 769 million in the first quarter of 2023. The decrease in operating profit reflects the impact of lower achieved power prices, although it was supported by higher hydro volumes and contributions from the Pjelax wind farm.

Earnings Per Share

For the first quarter of 2024, Fortum Oyj reported earnings per share of EUR 0.53, compared to EUR 0.60 in the same quarter of the previous year. The comparable earnings per share were EUR 0.48, down from EUR 0.54 in the first quarter of 2023, indicating a slight decline in profitability per share.

Cash Flow

Fortum Oyj's cash flow from operating activities totaled EUR 538 million in the first quarter of 2024, an increase from EUR 474 million in the same period of 2023. This improvement in cash flow highlights the company's strong operational performance despite the challenging market conditions.

Outlook and Strategic Priorities

Fortum Oyj's outlook for the remainder of 2024 includes approximately 70% of its Nordic outright generation hedged at EUR 43 per MWh. The company continues to focus on its strategic priorities, including delivering reliable and clean energy, driving decarbonization of industries, and transforming its operations to improve efficiency and reduce costs.

Summarized from source with an LLMView Source

Key figures

0.84%1Y

-51.9%3Y

-40.8%5Y

Performance

24.8%1Y

36.2%3Y

34.4%5Y

Volatility