Report
Louis Boujard, CFA ...
  • Philippe Ourpatian

Fortum : Une attractivité qui s’étiole. Nous dégradons à Neutre (vs Surperformance)

>Preview FY 2023 : nous abaissons nos BPA de 3% en 2023 - La consommation d’électricité sur les marchés finlandais et suédois desservis par Fortum (SE2 et SE3) a connu une forte augmentation sur les 2 premiers mois du T4 à 14.5 TWh pour la Finlande (+10% LfL) et 18 TWh pour SE2/SE3 (+14% LfL). Pour autant, même s’ils ont progressé après le 7 octobre, les prix sont restés bien inférieurs aux prix d’Europe continentale pendant le mois d’octobre profitant d’un marché bi...
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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Matthias Desmarais
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