Fortum released a weak set of Q1 results. The poor hydro production (-25% to 4.8TWh yoy) due to low reservoir levels at the beginning of the year almost entirely offset the positive effect of the higher achieved price during the quarter. Consequently, Generation’s EBITDA (half of the group’s EBITDA), remained broadly flat and, therefore, the group’s EBITDA as well, missing the consensus.
26 Apr 2019
Higher achieved price offset by low hydro production
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Higher achieved price offset by low hydro production
Fortum released a weak set of Q1 results. The poor hydro production (-25% to 4.8TWh yoy) due to low reservoir levels at the beginning of the year almost entirely offset the positive effect of the higher achieved price during the quarter. Consequently, Generation’s EBITDA (half of the group’s EBITDA), remained broadly flat and, therefore, the group’s EBITDA as well, missing the consensus.