Fortum published weak top-line results slightly below expectations, with revenue decreasing 5% yoy to €989m as revenue decreased in all divisions, missing forecasts by 4%. Operating profit reached €369m (a 5.4% yoy increase) mainly due to the disposal of a CHP plant in Russia, although on an adjusted basis operating profit decreased 20% yoy to €275m, missing consensus by 4%. At the bottom-line, on the other hand, helped by lower financial expenses due to the net cash position o

28 Apr 2016
Strong EPS given the weak top-line performance

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Strong EPS given the weak top-line performance
Fortum published weak top-line results slightly below expectations, with revenue decreasing 5% yoy to €989m as revenue decreased in all divisions, missing forecasts by 4%. Operating profit reached €369m (a 5.4% yoy increase) mainly due to the disposal of a CHP plant in Russia, although on an adjusted basis operating profit decreased 20% yoy to €275m, missing consensus by 4%. At the bottom-line, on the other hand, helped by lower financial expenses due to the net cash position o