Fortum : Tough comparative bases in 2022
>Good Q3 performance on the generation segment - Fortum reported on Friday Q3 results that were in line with expectations in terms of recurring attributable net profit but ahead at the operating level. Like-for-like EBITDA was up 335% y-o-y at € 574m vs € 530m forecast (Vara consensus at € 471m). Like-for-like EBIT improved significantly to € 260m from € -179m in Q3 2020 (vs € 218m expected by ODDO BHF and € 203m by the Vara consensus). This good performance is mainly...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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