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Fortum in brief
Fortum is a Nordic energy company. Our purpose is to power a world where people, businesses and nature thrive together. We are one of the cleanest energy producers in Europe and our actions are guided by our ambitious environmental targets. We generate and deliver clean energy reliably and help industries to decarbonise their processes and grow. Our core operations in the Nordics comprise of efficient, CO2-free power generation as well as reliable supply of electricity and district heat to private and business customers. For our ~5 000 employees, we commit to be a safe, and inspiring workplace. Fortum's share is listed on Nasdaq Helsinki.
| Fortum | 10/05/2024 | ||
|---|---|---|---|
| Currency | EUR | Volume | 3,477,044 |
| Previous Close | 13.41 | Number of shares (million) | 897.26 |
| Change (%) | 2.25 | Market Cap (million) | 12,027.83 |
Strategy
Fortum’s strategy is designed to deliver on the company’s purpose: ‘To power a world where people, businesses and nature thrive together’. It crystallises Fortum’s value proposition to our stakeholders.
How our strategy translates into shareholder value creation
Climate targets
- Carbon neutrality by 2030 (Scope 1, 2, 3), coal exit by end of 2027
- Commitment to SBTi 1.5°C climate target
- Specific emission target of below 10g/kWh by 2028 (power)
- Specific emission target of below 20g/kWh by 2028 (total)
Biodiversity
- No net loss of biodiversity from direct operations 2030 onwards (excluding all aquatic impacts)
- 50% reduction in dynamic terrestrial impacts in upstream Scope 3 by 2030 vs. 2021
- Commitment to continue local initiatives and to participate in the development of science-based methodology to assess the aquatic impacts of hydropower
Key figures, continuing operations
| EUR million or as indicated | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|
| Sales | 6,711 | 7,774 | 6,422 | 49,015 | 5,447 | 5,242 |
| Comparable EBITDA | 1,903 | 2,025 | 2,016 | 2,434 | 1,766 | 1,523 |
| Comparable operating profit | 1,544 | 1,611 | 1,429 | 1,344 | 1,191 | 987 |
| Operating profit | 1,662 | 1,967 | 4,325 | 1,599 | 1,118 | 1,138 |
| Comparable share of profit/loss of associates and joint ventures | 7 | -40 | 104 | 656 | n/a | n/a |
| Profit before income taxes | 1,583 | 1,564 | 4,332 | 2,199 | 1,728 | 1,040 |
| Earnings per share, EUR | 1.68 | 2.34 | 4.49 | n/a | n/a | n/a |
| Equity per share, EUR | 9.40 | 8.55 | 13.66 | 14.58 | 14.61 | 13.33 |
| Net cash from operating activities | 1,710 | 1,717 | 1,119 | 2,555 | 1,575 | 804 |
| Financial net debt | 942 | 1,084 | 789 | 7,023 | 4,833 | n/a |
| Financial net debt/comparable EBITDA | 0.5 | 0.6 | n/a | n/a | n/a | n/a |
Dividend
Fortum’s dividend policy is based on a payout ratio of 60–90% of comparable EPS reflecting the potential earnings fluctuations of Fortum’s power generation portfolio. The upper end of the range of the pay-out ratio is applied in situations with a strong balance sheet and low investments, while the lower end of the range would be applied with high leverage and/or significant investments and high capital expenditure.
Dividend per share (EUR) history
Dividend per share (EUR) history
Financial targets
• Stable credit rating of at least BBB
• Leverage guidance: financial net debt/comparable EBITDA of 2.0–2.5 times in the longer term
Financial net debt/comparable EBITDA development
Financial net debt/comparable EBITDA development
Shares and votes
Shares and votes
Fortum’s power generation in 2023
(continuing operations)
Total power generation 47.0 TWh
Fortum’s power generation in 2023
(continuing operations)
Total power generation 47.0 TWh
Fortum’s heat production in 2023
(continuing operations)
Total heat production 4.3 TWh
Fortum’s heat production in 2023
(continuing operations)
Total heat production 4.3 TWh
Financial Calendar
Fortum’s business structure and financial reportable segments
Company contacts
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