Fortum : Q3 2018 impacted by drop in hydro volumes
>Publication shy of forecasts - Fortum yesterday morning reported Q3 results below expectations. EBITDA came to € 230m (+9.5%) vs our and the consensus forecast of € 246.6m while underlying operating profit reached € 96m (+2.1%) vs € 118.4m expected (consensus at € 111.8m). By division, the group was impacted by a significant contraction in the production business (-32.7%) whose underlying operating profit came to € 70m vs the consensus estimate of € 118m. This poor p...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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