Report
Anis Zgaya ...
  • Louis Boujard, CFA
  • Philippe Ourpatian

Fortum : Publication en ligne. Neutre et OC à 21.0 € réitérés

>Résultats globalement en ligne avec les attentes - Fortum a publié des résultats annuels en ligne avec les attentes sur le plan opérationnel. L'EBITDA comparable est ressorti à 1 523 M€ (Oddo BHF à 1 481 M€ et Cs à 1 505 M€) dont +26 M€ de profits sur la cession de 54% des centrales solaires indiennes de Fortum. Le ROC a atteint à 987 M€ (Oddo BHF à 1 029 M€ et Cs à 972 M€) contre 811 M€ en 2017. Le BPA ajusté 2018 se situe en dessous des attentes à 0.80 € (Oddo BHF...
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
Anis Zgaya

Louis Boujard, CFA

Philippe Ourpatian

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