Fortum Oyj

Fortum Corporation released its interim report for January to September 2024, highlighting resilient performance despite low Nordic power prices, particularly in the third quarter. CEO Markus Rauramo noted that while July and August saw lower power prices due to high precipitation and increased wind and solar output, prices rose in September due to drier conditions and nuclear outages. The company's Generation segment faced challenges from lower power prices and hydro volumes, but these were partially offset by improved results in renewables and decarbonization. The Consumer Solutions segment saw a decrease in results, while Other Operations improved. Fortum continued its strategic initiatives, including the sale of its recycling and waste business to Summa Equity and its biobased solutions businesses to AM Green Technology & Solutions B.V. The company is focused on delivering reliable and clean energy, with significant developments in its nuclear operations, such as loading Westinghouse fuel at the Loviisa plant and planning lifetime extensions for Swedish nuclear plants. Fortum is also advancing decarbonization efforts by developing potential sites for data centers and industrial use, including a synthetic aviation fuel plant in Rauma. Fortum aims to improve efficiency by reducing fixed costs by EUR 100 million by 2025, with a EUR 50 million reduction expected by the end of 2024. The company is engaging with EU initiatives to ensure support for competitive and sustainable energy solutions. A webcast for investors and analysts is scheduled for October 29, 2024, and Fortum's financial statements for 2024 will be published in early 2025. Fortum, a leading Nordic energy company, is committed to clean energy production and helping industries decarbonize.

Fortum Corporation has announced the launch of the savings period for 2025 under its Employee Share Savings (ESS) programme. Established in October 2019, the ESS programme aims to encourage employees to invest in Fortum shares and align their interests with shareholders. Employees will invest part of their monthly salary and, after approximately three years, will receive one matching share for every two purchased shares, provided they hold the shares until the end of the holding period on 29 February 2028 and remain employed. The programme is available to Fortum Group employees, except in countries where it is not feasible. The total savings for the 2025 period are capped at EUR 6 million. Fortum is a Nordic energy company focused on clean energy production and environmental sustainability.