Fortum : Good results but pressure on forward prices
>Good results thanks to generation and city solutions… - Yesterday morning, Fortum reported results that overshot expectations. Like-for-like EBITDA totalled € 1,766m (+16%), ahead of our forecast of € 1,671m and that of the consensus at € 1,712m. Like-for-like EBIT came in at € 1,191m (+21%) vs our expectations and that of the consensus at € 1,159m. The main deviation vs expectations is due to the stronger performance from generation and city solutions activities (se...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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