Report
Louis Boujard, CFA ...
  • Philippe Ourpatian

Fortum : A weak Q2 in a challenging environment

>Q2 2020 results below expectations - Fortum this morning released Q2 results below expectations. Like-for-like EBITDA came in at € 512m, up by 38% y-o-y, vs ODDO BHF at € 577m and consensus at € 574m. L-f-l EBIT came in at € 207m vs € 232m in H1 2019 (ODDO BHF and consensus forecasts at € 242m and € 243m, respectively). Recurring EPS came in 80% lower y-o-y at € 0.15 vs ODDO BHF at €0.22 and consensus at €0.21. Half-year operating results were positively marked by...
Underlying
Fortum Oyj

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Louis Boujard, CFA

Philippe Ourpatian

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