Fortum : The end of the tunnel is still a long way off
>Q1 results down significantly, as expected - Fortum yesterday released quarterly results in line with expectations. Comparable EBITDA was down 107% yoy at -€ 104m, vs -€ 95m expected by ODDO BHF and the Vara consensus. Comparable EBIT was down 137% yoy at -€ 438m, vs -€ 414m expected by ODDO and -€ 436m by the Vara consensus. This mediocre performance is attributable chiefly to the drop in Uniper’s results linked to its mid-stream gas activity, notably due to the op...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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