Weak top-line Q3 results for Fortum, heavily impacted by lower Nordic power prices. Sales decreased 24% qoq and and 15.6% ytd to €661m and €2,495m respectively, missing estimates by 2%. In Q3, comparable operating profits decreased by 46% to €79m pushing the ytd results down to a 21% decrease to €565m, also missing expectations by 2%. Although the bottom-line results are within consensus with a Q3 EPS in negative territory at €-0.74 EPS due to the write-down of the Sw
22 Oct 2015
Q3 negative results: impairments and lower power prices
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Q3 negative results: impairments and lower power prices
Weak top-line Q3 results for Fortum, heavily impacted by lower Nordic power prices. Sales decreased 24% qoq and and 15.6% ytd to €661m and €2,495m respectively, missing estimates by 2%. In Q3, comparable operating profits decreased by 46% to €79m pushing the ytd results down to a 21% decrease to €565m, also missing expectations by 2%. Although the bottom-line results are within consensus with a Q3 EPS in negative territory at €-0.74 EPS due to the write-down of the Sw