Fortum, an energy company, has exceeded analysts’ average expectations at the beginning of the year. In January-March, the company recorded a turnover of EUR 2,015 million, which was lower than the comparison period a year ago. However, this figure surpassed the consensus forecast of 1,828 million euros collected by seven analysts.
The company’s comparable EBITDA at the beginning of the year was 662 million euros, higher than analysts’ average expectation of 549 million euros. Despite this, it was lower than the 781 million euros recorded in the comparison period a year ago.
In terms of comparable operating profit, Fortum reported 530 million euros, which was higher than the analysts’ consensus prediction of 451 million euros. In the same period last year, the company’s comparable operating result reached 698 million euros.
Fortum’s earnings per share at the beginning of the year were EUR 0.53, surpassing the analysts’ average expectation of EUR 0.39. In the comparison period, earnings per share were EUR 0.60.
Fortum’s CEO, Markus Rauramo, attributed the decline in earnings to factors such as the drop in gas and electricity prices in Europe. However, Rauramo also mentioned positive developments such as arbitration proceedings against Russia to protect Fortum’s legal position and shareholder interests.
Despite challenges in national economies and high inflation levels, Rauramo remains optimistic about Fortum’s future outlook. He highlighted key investments in upcoming years such as growth investments and annual maintenance investments to strengthen Fortum’s position in