Fortum reported a complex set of Q1 22 results which were littered with a plethora of one-off and extraordinary events, preventing us from drawing clear conclusions as to the health of the underlying business. No matter; in the current environment, the really big news was the announcement of a ‘controlled’ exit from Russia – although it remains to be seen what ‘controlled’ means…
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Q1 22: Goodbye Russia!
Fortum reported a complex set of Q1 22 results which were littered with a plethora of one-off and extraordinary events, preventing us from drawing clear conclusions as to the health of the underlying business. No matter; in the current environment, the really big news was the announcement of a ‘controlled’ exit from Russia – although it remains to be seen what ‘controlled’ means…