Fortum : A bit too reasonable in its ambitions
>Timid strategic objectives - At the Capital Market Day yesterday, Fortum presented its new strategy factoring in the integration of Uniper. The financial targets were adjusted to the changes in the scope, leading the group to highlight the key points in its future commitments. The balancing act between capex, the dividend and the credit rating seems to have led the management to scale back its growth ambitions to meet the demands in terms of dividends and those of th...Fortum is an energy company. Co.'s operations are organised in five divisions: Hydro Power and Technology and Nuclear and Thermal Power, which are engaged in its hydro, nuclear and thermal power generation, services, portfolio management and trading as well as technology and research and development functions; Heat, Electricity Sales and Solutions, which consists of Co.'s combined heat and power production, district heating and business-to-business heating solutions, solar business, electricity sales and related customer offering; Russia, which consists of power and heat generation as well as heat distribution in Russia; and Distribution, which focuses on distribution activities in Sweden.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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