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Last €14.13 EUR
Change Today -0.21 / -1.46%
Volume 3.2M
As of 11:29 AM 10/8/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

Keilaniementie 1

Espoo, 02150


Phone: 358 10 4511

Fax: 358 1045 24920

Fortum Oyj operates as an energy company in the Nordic region, including the Baltic Rim. Its activities cover the generation, distribution and sale of electricity and heat, the operation and maintenance of power plants, as well as energy-related services. The main products are electricity, heat and steam. The company has primary operations in Finland, Sweden and Norway. It operates in four segments: Power Generation, Heat, Distribution, and Markets. Power Generation The business area comprises power generation and sales in the Nordic countries and the provision of operation and maintenance services in the Nordic area and selected international markets. The Power Generation segment sells its production to Nord Pool. The segment includes business units Generation, Portfolio Management and Trading (PMT), and Service. In January-March, the segment's power generation in the Nordic countries was 12.8 TWh, of which about 5.6 TWh or 44% was hydropower-based, 7.0 TWh or 55% nuclear power-based and 0.2 TWh or 1% thermal powerbased. Heat The business area comprises heat generation and sales in the Nordic countries and other parts of the Baltic Rim. Fortum is the major heat producer in the region. The segment also generates power in the combined heat and power plants (CHP) and sells it to end-customers mainly by long-term contracts, as well as to Nord Pool. The segment includes business units Heat and Varme. In January-March, power sales at combined heat and power plants (CHP) totaled 1.6 TWh. Fortum acquired an 85% share of a Polish district heating company PESC Czestochowa, with annual sales of some 780 GWh. Distribution Fortum owns and operates distribution and regional networks and distributes electricity to a total of 1.4 million customers in Sweden, Finland, Norway and Estonia. As of March 31, 2005, the volume of distribution and regional transmissions totaled 7.2 TWh and 5.1 (5.2) TWh, respectively. Electricity transmissions via the regional distribution network to customers outside the company totaled 4.2 TWh in Sweden and 0.9 TWh in Finland. Markets Markets is responsible for retail sales of electricity to a total of 1.1 million private and business customers, as well as to other electricity retailers in Sweden, Finland and Norway. The company buys its electricity through Nord Pool. Significant Events On May 12, 2009, Fortum Oyj and Metso Corp. have partnered to explore oxyfuel combustion technology. Oxyfuel combustion is part of a technical concept which enables carbon capture in power and heat generation. The company and Metso Corp. have agreed on collaboration to develop an electric concept car and the related recharging technology. The company and Metsähallitus have jointly begun developing a wind power project in the Kuolavaara-Keulakkop area, located in the Kittil and Sodankyl municipalities in northern Finland. On October 14, 2009, Fortum Oyj and Teollisuuden Voima Oy are collaborating with Siemens Energy in the field of carbon capture and storage. Siemens Energy was chosen as the capture technology partner for the FINNCAP-Meri-Pori Carbon Capture and Storage (CCS) project by the owners of Meri-Pori power plant, Fortum and TVO. In November 2009, the company and ABB Ltd. started a joint development project to design and install Europe's first large-scale urban smart electricity grid in a new district in the city of Stockholm. History Fortum Oyj was founded in 1998.


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Price/Sales 2.8x
Price/Book 0.8x
Price/Cash Flow 2.1x
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