Fortum’s results are heavily impacted by the decrease in power prices. Sales have decreased, but are in line with expectations, reaching €1,834m (-12% yoy); nevertheless, the adjusted operating profits are 6% below expectations due not only to lower power prices but also from the cancellation of the Olkiluoto 4 nuclear project which deepened even further the decrease in the operating profit, reaching €494m (-17% yoy). Nevertheless, if we take into account the discounted operat
17 Jul 2015
Lower power prices sink results despite the strong cash coming from divestments
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Lower power prices sink results despite the strong cash coming from divestments
Fortum’s results are heavily impacted by the decrease in power prices. Sales have decreased, but are in line with expectations, reaching €1,834m (-12% yoy); nevertheless, the adjusted operating profits are 6% below expectations due not only to lower power prices but also from the cancellation of the Olkiluoto 4 nuclear project which deepened even further the decrease in the operating profit, reaching €494m (-17% yoy). Nevertheless, if we take into account the discounted operat