Fortum : Result a bit short of expectations
>Weak hydro volumes burdened the performance in the Q3 - Fortum’s 9M 2024 results, reported this morning, fell short of our expectations and consensus estimates. Comparable EBITDA stood at € 254m (-20% y-o-y), a bit shy of our forecast at € 262m. EBIT reached € 158m (-30%) vs. our estimate of € 170m. Net income came in at € 117m (-43%) vs our forecast of € 125m. By division, Generation recorded EBIT of € 176m (vs our estimates at € 190m), impacted by the drop in Hydr...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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