Financial update. Juha Laaksonen. Chief Financial Officer, Fortum Corporation. Capital Markets Day
|
|
- Harriet Leonard
- 6 years ago
- Views:
Transcription
1 Financial update Juha Laaksonen Chief Financial Officer, Fortum Corporation Capital Markets Day 29 November 2005
2 Disclaimer This presentation does not constitute an invitation to underwrite, subscribe for, or otherwise acquire or dispose of any Fortum shares. Past performance is no guide to future performance, and persons needing advice should consult an independent financial adviser. 2
3 Contents Recent financial performance Accounting issues Financial position Capital expenditure and acquisitions 3
4 Recent financial performance Accounting issues Financial position Capital expenditure and acquisitions 4
5 Good performance in January September Key market drivers Increase of 1% in electricity consumption Decrease of 4% in Nord Pool price of electricity Increase of 6% in Fortum's achieved Nordic Generation power price Well-performing businesses Comparable operating profit EUR 874 (799) million Earnings per share EUR 0.65 (0.58) Net cash from operating activities EUR 847 (989) million Net debt EUR 3,333 (5,445) million Gearing at 47% Comparison: I-III/05 (I-III/04) 5
6 January September in brief CONTINUING OPERATIONS, CUMULATIVE I-III 2005 Sales (MEUR) Operating profit (MEUR) Comparable operating profit (MEUR) Net assets (MEUR) Return on net assets (comparable) (%) CAPEX (MEUR) Power Generation 1, , Heat , Distribution , Markets Other/elim Fortum Group 2, , ) Capital employed 2) Return on capital employed, Fortum total 3) Includes investments in shares 6
7 Income statement MEUR I-III/2005 I-III/2004 Net sales Expenses Operating profit Share of profit of associates and joint ventures 28 9 Financial expenses, net Profit before taxes Income tax expense Profit for the period from continuing operations Profit for the period from discontinued operations Net profit for the period Of which minority interest EPS, Total Fortum Group (EUR) EPS, continuing operations (EUR) EPS, discontinued operations (EUR)
8 Cash flow statement MEUR I-III/2005 I-III/ Operating profit before depreciations continuing operations Non-cash flow items and divesting activities Financial items and taxes Funds from operations continuing operations (FFO) Change in working capital Net cash from operating activities continuing operations Net cash from operating activities discontinued operations Total cash from operating activities Capital expenditures Other investing activities Investing activities discontinued operations Cash flow before financing activities
9 Balance sheet MEUR Sep 30 Dec Non-current assets Current assets ASSETS Total equity of which minority interest Interest-bearing liabilities Non-interest bearing liabilities EQUITY AND LIABILITIES Gearing (%) Equity per share (EUR) Net debt, (MEUR)
10 Outlook: hedging of Nordic Power Generation sales At the beginning of October, Fortum had hedged its Nordic Power Generation sales volume as follows: Calendar year 2006 Q4/2005 Hedge ratio Approximately two thirds Approximately 70% Hedge price Slightly higher than the achieved Nordic Generation power price during the last 12 months (EUR 30.4 per MWh) Approximately the same as the achieved Nordic Generation power price during the last 12 months (EUR 30.4 per MWh) 10
11 Nord Pool Year Forwards /MWh Year 06 Year 07 Year Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q
12 Recent financial performance Accounting issues Financial position Capital expenditure and acquisitions 11
13 Fortum transition to IFRS Transition to IFRS from the beginning of 2005 Financial Statements 2004 in February 2005, including audited section of IFRS information transition press release in April 2005, including comparison figures for 2004 Concept of comparable operating profit introduced in the Q2/2005 interim report intention to provide a true and fair view of Fortum's quarterly operational performance excludes volatility from IAS 39 in operating profit, nuclear fund adjustment effects and non-recurring items 12
14 Concept of comparable operating profit Purpose to disclose Fortum's true operational performance on a quarterly basis Operating profit + / - Non-recurring items + / - Unqualifying (IAS39) financial derivatives hedging future cash-flows + / - Nuclear fund adjustments Comparable operating profit Q3/05 Q1-Q3/05 Q3/04 Q1-Q3/04 Operating profit /- Non-recurring items /- IAS /- Nuclear Comparable operating profit Unqualifying (IAS39) financial derivatives and nuclear fund adjustments have been presented as "Items affecting comparability" in the interim reports during Non-recurring items include capital gains and losses on sale of fixed assets, shares, etc. 13
15 IAS 39 financial instruments Fortum applies hedge accounting for most of the electricity derivatives used to hedge future cash flows When hedge accounting is not applied, the fair value changes of financial derivatives are recorded in P&L When hedge accounting is applied the effects of changes in fair values, net of deferred tax, are recorded in equity The Group's change in hedging reserves in equity is mainly due to increase in the electricity price quotations since year-end IAS 39 effects on equity IAS 39 effects on operating profit, periodic Q Q Q Dec 2004 Mar 2005 Jun 2005 Sep
16 CO 2 accounting CO 2 emission trading started in 2005 in the EU Cost and liability are recorded when actual emissions (in tonnes of CO 2 ) exceed the received emission rights The cost and liability is measured at the probable settlement price, i.e., current market price or contracted purchase price for emission rights Sold emission rights are recognised in other operating income on delivery 15
17 Nuclear assets and liabilities Fortum owns the Loviisa nuclear power plant in Finland Under IFRS, Fortum's part of the Nuclear Waste Fund and the related liabilities for decommissioning and disposal of spent fuel are presented gross in the balance sheet Fortum's share of the Nuclear Waste Fund is shown at the value of the related liabilities, even though the fair value is higher, since Fortum does not have control over the Nuclear Waste Fund Any reductions of the liabilities due to actions taken cause an accounting charge, since the value of the Nuclear Waste Fund has to be reduced in the balance sheet These adjustments are excluded from comparable operating profit 16
18 Recent financial performance Accounting issues Financial position Capital expenditure and acquisitions 17
19 Current Fortum Group financial targets ROE >12% ROCE >12% Normal CAPEX <depreciation Gearing <100% 18
20 Credit ratings Moody's long-term rating Standard & Poor's long-term rating A2 (stable outlook) A- (stable outlook) "The upgrade of the long-term ratings on Fortum reflects the group's decreased business risk following the demerger of its oil business, continuing strong operating performance, and its solid financial prospects." Standard & Poor's 19
21 Capital structure Fortum wants to have a prudent and efficient capital structure Access to flexible funding sources is key Current rating provides plenty of headroom Dividend policy of 50-60% payout on the average for Fortum continuing operations' results Share buy-backs has become an option after Government sell-down in the summer 20
22 Funding sources and maturity profile Funding and treasury risk management centralised to Group Treasury Transparent loan portfolio Interest bearing loans in the end of Sep 2005 Average interest rate disclosed in the end of 2004 was 4.1%. 809 Total 4,115 MEUR 1,729 Access to all relevant debt markets Bonds Bank loans Other long-term debt Short-term debt 21
23 Recent financial performance Accounting issues Financial position Capital expenditure and acquisitions 22
24 Through restructuring and with major investments... EUR 13 billion restructuring during Investments EUR million 4,381 Acquisitions Divestments Norway E&P Stora Enso Power production EPV Transmission Engineering Power Plant Engineering Elnova Espoon Sähkö Hafslund Østfold Fredrikstads Energi Länsivoima 3,131 Edenderry Humber Småland Distribution Birka Energi Lenenergo Tartu Energia Brigg Wesertal DZT, PESC Germany Electricity operations Wroclaw 1, , Budapesti Erömü Oman Laem Chabang ) LTM 1) 1) According to IFRS LTM based on September
25 ... to increased profitability EUR 13 billion restructuring during Acquisitions Transmission Engineering Return on capital employed % Divestments Norway E&P Hafslund Østfold Fredrikstads Energi Stora Enso Power production Länsivoima EPV Elnova Lenenergo Power Plant Engineering Espoon Sähkö Edenderry Brigg Humber Småland Distribution Wesertal Birka Energi Tartu Energia DZT, PESC Germany Electricity operations Wroclaw Budapesti Erömü Laem Chabang Oman LTM 1 1) According to IFRS LTM based on September
26 Capital expenditure In the power and heat business investment horizon is decades Maintenance/productivity capex: annual level in the Group ~ depreciation. This is currently EUR ~450 million distribution investment programme ~EUR 700 million in the next 5 years Capacity expansions: nuclear (OL3) in Finland ~EUR 225 million ( ) nuclear investments in Sweden ~EUR 600 million in 10 years Acquisitions E.ON Finland case 25
27 Acquisitions will continue Nordic consolidation Opportunities in Russia and Poland A prudent balance sheet and financial flexibility will be required Strategic fit means continuing focus on Nordic countries and the Baltic Rim Value creation the key financial criteria 26
28 Strict financial criteria for acquisitions Value creation we want to beat the appropriate cost of capital cost of capital varies by business / country / currency DCF the main valuation methodology multiples and others used to support We expect return on capital after integration to beat WACC Group ROCE target at 12% as an overall return target Synergies an important part of the evaluation process 27
29 Synergies are often overlooked but important Strong focus is the key market and business We have integrated acquisitions successfully Birka, Stora-Enso good examples We have deep industrial and business competence plant availability and optimisation district heating network O&M distribution network O&M customer platform hedging 28
30 Concluding remarks Company is in a good shape Strong results and cash flow Fortum wants to have a prudent and efficient capital structure, allowing access to flexible funding sources acquisitions part of strategy Board of Directors will propose a dividend to the AGM on 3 February 29
Capital Markets Day Fortum Corporation
Capital Markets Day 2005 Fortum Corporation 29 November 2005 Capital Markets Day 2005 - Agenda Registration and coffee 08.30-09.00 Fortum in the Nordic and European electricity markets, Mikael Lilius,
More informationFortum Corporation Interim Report 1 January 30 June 2003
Fortum Corporation Interim Report 1 January 30 June 2003 Fortum Corporation Interim Report 1 January 30 June 2003 Continued strong performance by Fortum - significant improvement in ongoing business The
More informationFortum Corporation Interim Report January-March April 2012
Fortum Corporation Interim Report January-March 2012 26 April 2012 1 Disclaimer This presentation does not constitute an invitation to underwrite, subscribe for, or otherwise acquire or dispose of any
More informationInterim Report 1 January - 31 March April 2002
Interim Report 1 January - 31 March 2002 RNR/HYK Highlights of the quarter Delivering on strategic agenda Slightly improved results Weakened market conditions 2 Delivering on strategic agenda Completed
More informationRNR/HYK. Interim Report 1 January - 31 March April 2002 Teleconference
RNR/HYK Interim Report 1 January - 31 March 2002 Teleconference Highlights of the quarter Delivering on strategic agenda Slightly improved results Weakened market conditions 2 Delivering on strategic agenda
More informationFortum Corporation Interim report January June July 2014
Fortum Corporation Interim report January June 2014 18 July 2014 Disclaimer This presentation does not constitute an invitation to underwrite, subscribe for, or otherwise acquire or dispose of any Fortum
More informationA good year for Fortum: major strategic moves and significant increase in earnings
13February 2003 Financial Statements 2002 A good year for Fortum: major strategic moves and significant increase in earnings The year in brief Pre-tax profit of EUR 1,008 million, 44% up on previous year
More informationFortum Corporation Interim Report January-June 2008
Fortum Corporation Interim Report January-June 2008 Fortum Corporation Interim Report January-June 2008 17 July 2008 at 9:00 Solid first half-year results Strong performance in Power Generation Comparable
More informationCEO s review. Timo Karttinen Interim President and CEO, Chief Financial Officer
CEO s review Timo Karttinen Interim President and CEO, Chief Financial Officer CEO s review Fortum today Strategy and divestment of electricity distribution business Fortum s development and operating
More informationFinancial Statements Fortum Corporation 2 February 2017
Financial Statements 2016 Fortum Corporation 2 February 2017 Disclaimer This presentation does not constitute an invitation to underwrite, subscribe for, or otherwise acquire or dispose of any Fortum shares.
More information- a leading energy company in the Nordic area. Investor Meetings
- a leading energy company in the Nordic area Investor Meetings November 2004 Fortum's strategy Fortum focuses on the Nordic energy market as a platform for long-term profitable growth Create the leading
More informationInterim report January-September Fortum Corporation 22 October 2015
Interim report January-September 2015 Fortum Corporation 22 October 2015 Disclaimer This presentation does not constitute an invitation to underwrite, subscribe for, or otherwise acquire or dispose of
More informationFortum and Nordic power markets
Fortum and Nordic power markets Mikael Lilius President and CEO, Fortum Corporation Enskilda Securities, Finnish Blue Chip Seminar 2005 Helsinki, 22 September 2005 Fortum's strategy Fortum focuses on the
More informationFortum Corporation Interim report January-March April 2010
Fortum Corporation Interim report January-March 21 27 April 21 Disclaimer This presentation does not constitute an invitation to underwrite, subscribe for, or otherwise acquire or dispose of any Fortum
More informationBalance sheet strength enables growth and value creation
Fortum - Power and heat company in the Nordic area, Russia, Poland and the Baltics Balance sheet strength enables growth and value creation Berenberg European Conference, Surrey 2 December 2014 Timo Karttinen,
More informationFortum Corporation Interim Report January June July 2009
Fortum Corporation Interim Report January June 17 July Fortum Corporation Interim Report January June 17 July at 9:00 Solid first-half year results Comparable operating profit EUR 1,002 (984) million,
More informationA leading energy company in the Nordic area
A leading energy company in the Nordic area Investor Meetings February, 2005 Fortum's strategy Fortum focuses on the Nordic energy market as a platform for long-term profitable growth Create the leading
More informationInterim Report January-June Fortum Corporation 20 July 2016
Interim Report January-June 2016 Fortum Corporation 20 July 2016 Disclaimer This presentation does not constitute an invitation to underwrite, subscribe for, or otherwise acquire or dispose of any Fortum
More informationInterim Report 1 January 30 June 2002
Interim Report 1 January 30 June 2002 FORTUM CORPORATION Domicile Espoo Business ID 1463611-4 VAT No. FI14636114 2(11) Fortum Corporation Interim Report 1 January 30 June 2002 Fortum s strategic agenda
More informationInterim Report January-September Fortum Corporation 24 October 2018
Interim Report January-September Fortum Corporation 24 October Low hydro volumes partly offset by higher prices Nordic power price volatile during the quarter, but significantly up from 2017 Low hydro
More informationThe Way Forward Mikael Lilius President and CEO Capital Markets Day
The Way Forward Mikael Lilius President and CEO Capital Markets Day June 17, 2004 Fortum's strategy Fortum focuses on the Nordic energy market as a platform for long-term profitable growth Create the leading
More informationFortum Corporation Interim Report January September October 2009
Fortum Corporation Interim Report January September 22 October Fortum Corporation Interim Report January September 22 October at 9:00 Consistent performance in a challenging environment Comparable operating
More informationFortum intends to become a major shareholder in Uniper
A powerful combination to drive European energy transition Fortum intends to become a major shareholder in Uniper 27 September 2017 Disclaimer This presentation is neither an offer to purchase, underwrite,
More informationInterim Report January-March Fortum Corporation 26 April 2018
Interim Report January-March 2018 Fortum Corporation 26 April 2018 Strong performance in Q1 2018 Increased wholesale power prices in the Nordics Cold weather in February and March Lower than normal precipitation
More informationFortum Corporation Interim Report January-March April 2009
Fortum Corporation Interim Report January-March 28 April Fortum Corporation Interim Report January-March 28 April at 9:00 A strong start for the year Comparable operating profit EUR 602 (581) million,
More information- a leading energy company in the Nordic area
- a leading energy company in the Nordic area Presentation for investors February 2007 Disclaimer This presentation does not constitute an invitation to underwrite, subscribe for, or otherwise acquire
More information- a leading energy company in the Nordic area
- a leading energy company in the Nordic area Presentation for investors November 2007 Disclaimer This presentation does not constitute an invitation to underwrite, subscribe for, or otherwise acquire
More informationTietoEnator Q4 and full year February 2008, Helsinki Strategy and actions for 2008 Interim CEO Åke Plyhm
TietoEnator Q4 and full year 2007 6 February 2008, Helsinki Strategy and actions for 2008 Interim CEO Åke Plyhm Performance and outlook CFO Timo Salmela Strategy and actions for 2008 Performance and outlook
More informationQ1 Q Q3 Q EUR million Jan-Mar 2018 Jan-Mar 2017 Change, % EUR million Jan-Dec 2017
Stockholm, Sweden, 4 May Eltel Group Interim report January March January March Group net sales decreased 10.5% to EUR 266.6 million (297.8), mainly as a result of divestments and on-going discontinuation
More informationHalf-Year Financial Report January-June Fortum Corporation 19 July 2018
Half-Year Financial Report January-June Fortum Corporation 19 July Improved results in Q2 Increased wholesale power prices in the Nordics Cold weather in Q1 and warm weather in Q2 Rising commodity and
More informationFortum Corporation Financial statements release February 2010
Fortum Corporation Financial statements release 2009 3 February 2010 Fortum Corporation Financial statements release 2009 3 February 2010 at 9:00 Stable performance in turbulent times Comparable operating
More informationAnnual Report 2006 Financials. Enjoy your achievements.
Annual Report 2006 Financials Enjoy your achievements. Investor Information Annual General Meeting The Annual General Meeting (AGM) of Fortum Corporation will be held on Wednesday, 28 March 2007, at 3.00
More informationFortum Corporation Interim Report January-March April 2010
Fortum Corporation Interim Report January-March 2010 27 April 2010 Fortum Corporation Interim Report January-March 2010 27 April 2010 at 9:00 A strong start for the year Comparable operating profit EUR
More informationFortum Corporation. Interim Report January-September October Fortum Corporation Domicile Espoo Business ID
Fortum Corporation Interim Report January-September 19 October Fortum Corporation Domicile Espoo Business ID 1463611-4 Fortum Corporation Interim Report, January - September 19 October at 9:00 EEST A very
More informationFortum Corporation. Interim Report January-June July Fortum Corporation. Domicile Espoo Business ID
Interim Report January-June 19 July Fortum Corporation Domicile Espoo Business ID 1463611-4 Interim report January - June 19 July at 9:00 EEST Good operational performance in the second quarter April June
More informationThe Fortum share and shareholders
FORTUM FINANCIALS 2 Operating and financial review 27 The Fortum share and shareholders Fortum Corporation s shares have been listed on NASDAQ OMX Helsinki since 18 December 1998. The trading code is FUM1V.
More informationFortum Corporation. Financial Statements Bulletin February Fortum Corporation. Domicile Espoo Business ID
Fortum Corporation Financial Statements Bulletin 4 February 2014 Fortum Corporation Domicile Espoo Business ID 1463611-4 Fortum Corporation Financial Statements Bulletin 4 February 2014 at 9:00 EET Fourth
More informationFortum in Russia. Tapio Kuula. Senior Vice President Fortum Corporation. Capital Markets Day
Fortum in Russia Tapio Kuula Senior Vice President Fortum Corporation Capital Markets Day Stockholm, 4 June 2007 Disclaimer This presentation does not constitute an invitation to underwrite, subscribe
More informationQ PRESENTATION. 26 th October Leif Gustafsson, CEO Aku Rumpunen, CFO
Q3 218 PRESENTATION 26 th October 218 Leif Gustafsson, CEO Aku Rumpunen, CFO Q3 218 Highlights Organic sales growth of 6.3% was supported by both business divisions Comparable EBITA improved by 3.5% to
More informationVattenfall Q1 results 2009
Vattenfall Q1 results 2009 Presentations by Lars G. Josefsson, CEO and Dag Andresen, CFO Agenda 2 CEO Lars G. Josefsson: Financial highlights Generation volumes Market and price development Other important
More informationQ presentation. 19 November 2015
Q3 2015 presentation 19 November 2015 1 Today s presenters Axel Hjärne Chief Executive Officer Gert Sköld Chief Financial Officer 2 Eltel in brief Q3 2015 business performance Q3 2015 financials Market
More informationVattenfall Q results
Vattenfall Q1 2012 results Øystein Løseth, CEO and Peter Smink, acting CFO Press Conference, 3 May 2012 Successful first quarter continued consolidation Vattenfall continues to deliver on its strategy:
More informationFortum Corporation. Financial statements bulletin January December February Fortum Corporation Domicile Espoo Business ID
Fortum Corporation Financial statements bulletin January December 3 February 2016 Fortum Corporation Domicile Espoo Business ID 1463611-4 Contents Low electricity prices and write-downs burdened continuing
More informationFortum Corporation. Interim Report January September October WorldReginfo e3c-c73b-433e d95c144951
Fortum Corporation Interim Report January September 25 October Fortum Corporation Domicile Espoo Business ID 1463611-4 Contents Low hydro production volumes affected seasonally weak quarter 3 Fortum s
More informationElectricity market in the. Simon-Erik Ollus Baltic Energy Forum, Vilnius 20 November 2014
Electricity market in the Baltic Sea area today Simon-Erik Ollus Baltic Energy Forum, Vilnius 20 November 2014 Disclaimer This presentation does not constitute an invitation to underwrite, subscribe for,
More informationStatkraft Investor Update. March 2014
Statkraft Investor Update March 2014 Disclaimer This presentation has been prepared by, and the information contained herein (unless otherwise indicated) has been provided by Statkraft AS (the "Company").
More informationVattenfall Q1 Results 2008
Vattenfall Q1 Results 2008 Presentations by Lars Josefsson, CEO and Jan Erik Back, CFO Highlights Q1 2008 2 Net sales increased 9.0% to SEK 45,404 million (41,644). EBIT increased slightly by 0.2% to SEK
More informationVattenfall Q2 Results 2008
Vattenfall Q2 Results 2008 Presentations by Lars G. Josefsson, CEO and Jan Erik Back, CFO Main topics to be discussed 2 CEO Lars G. Josefsson: Sales & earnings Production volumes Nuclear update Moorburg
More informationFortum Corporation. Interim Report January-September October Fortum Corporation. Domicile Espoo Business ID
Interim Report January-September 23 October Fortum Corporation Domicile Espoo Business ID 1463611-4 Interim report January - September 23 October at 9:00 EEST Typically weak third-quarter results further
More informationVattenfall Q3 results 2009
Vattenfall Q3 results 2009 Presentations by Lars G. Josefsson, CEO and Dag Andresen, CFO Agenda CEO Lars G. Josefsson: CFO Dag Andresen: Financial highlights Generation volumes Electricity price development
More informationFORTUM A leading power and heat company in the Nordic area. Investor/Analyst material June 2010
FORTUM A leading power and heat company in the Nordic area Investor/Analyst material June 2010 Disclaimer This presentation does not constitute an invitation to underwrite, subscribe for, or otherwise
More informationBUSINESS REVIEW Q3/2018 / CRAMO PLC Q3
BUSINESS REVIEW /2018 / CRAMO PLC 1 PROFITABLE GROWTH CONTINUED BUSINESS REVIEW /2018 / CRAMO PLC JULY SEPTEMBER 2018 Sales EUR 197.9 (191.9) million, up by 3.1%. In local currencies, sales grew by 7.5%.
More informationCapturing a unique growth opportunity Fortum to acquire majority of Russian TGC-10
Capturing a unique growth opportunity Fortum to acquire majority of Russian TGC-10 29 February 2008 Conference call Delivering growth and value creation Fortum to acquire a majority stake of 63-76% in
More informationstrong and steady performance continued
H1 2018 strong and steady performance continued half year financial REPORT JANUARY june 2018 Ramirent Plc s Half year financial Report January-June 2018 Strong and steady performance continued APRIL JUNE
More informationEUR million Jul-Sep 2018 Jul-Sep 2017 Change, % EUR million Jan-Sep 2018 Jan-Sep 2017 Change, %
Stockholm, Sweden, 7 November Eltel Group Interim report January September July September Net sales EUR 295.9 million (328.0). Total growth -9.8% and organic growth in Power and Communication* 1.4% Operative
More informationFortum in European and Russian power markets
Fortum in European and Russian power markets Mikael Lilius President and CEO Fortum Corporation Fortum Investor/Analyst day 2006 27 November, London Disclaimer This presentation does not constitute an
More informationContents. Tables to the Interim Report
Contents Historically low hydro volumes impacted the results, partly offset by higher power prices 3 Fortum President and CEO Pekka Lundmark s comments 4 Uniper investment 5 Financial results 5 Financial
More informationMARTELA. Half year financial report 1-6/2016 August 9th, 2016
MARTELA Half year financial report 1-6/ August 9th, 1 WORKPLACE SPECIALIST Martela is one of the Nordic leaders specializing in user centric working and learning environments. We offer our customers a
More informationFortum Corporation. Interim Report January-June July Fortum Corporation Domicile Espoo Business ID
Interim Report 19 July Domicile Espoo Business ID 1463611-4 Interim report January - June 19 July at 9:00 EEST Results continued to develop well Comparable operating profit EUR 997 (990) million, +1% Earnings
More informationBUSINESS REVIEW Q1/2018 / CRAMO PLC Q1
BUSINESS REVIEW /2018 / CRAMO PLC 1 BUSINESS REVIEW /2018 / CRAMO PLC STRONG FIRST QUARTER FOR BOTH DIVISIONS - KBS INFRA INCLUDED FROM 1 ST OF MARCH JANUARY MARCH 2018 Sales EUR 175.3 (162.9) million,
More informationVattenfall Capital Markets Day 2009
Vattenfall Capital Markets Day 2009 Presentation by: Dag Andresen First Senior Executive Vice President Group CFO Amsterdam, 23 September 2009 Contents Financial targets and outcome Nuon acquisition Actions
More informationUnaudited Interim Condensed Consolidated Financial Statements
Unaudited Interim Condensed Consolidated Financial Statements for the 9 month period ended 3 September 216 3.11.216 / RIGA Disclaimer This presentation and any materials distributed or made available in
More informationVattenfall Q2 results 2011
Vattenfall Q2 results 2011 Øystein Løseth, CEO and Dag Andresen, CFO Conference Call, 28 July 2011 Business highlights German nuclear decision negatively impacts Vattenfall s Q2 result due to impairment
More informationTieto Q4/2012. Kimmo Alkio President and CEO Lasse Heinonen CFO Pellervo Hämäläinen VP, Communications & IR. 6 February 2013
Tieto Q4/2012 Kimmo Alkio President and CEO Lasse Heinonen CFO Pellervo Hämäläinen VP, Communications & IR 2013 Tieto Corporation 6 February 2013 1 Q4 2012 in brief Strong improvement in underlying profitability
More informationFortum Corporation. Interim Report January-September October Fortum Corporation. Domicile Espoo Business ID
Interim Report January-September 20 October Fortum Corporation Domicile Espoo Business ID 1463611-4 Interim report January - September 20 October at 9:00 EEST Results on last year s levels July - September
More informationStatkraft Investor Update. European Energy & Utilities Credit Conference 2013
Statkraft Investor Update European Energy & Utilities Credit Conference 2013 Disclaimer This presentation has been prepared by, and the information contained herein (unless otherwise indicated) has been
More informationQ U A R T E R L Y R E P O R T 2017 FOURTH QUARTER
Q U A R T E R L Y R E P O R T 2017 FOURTH QUARTER Contents Highlights 3 Group summary 5 Business areas 6 Other matters 7 Outlook 8 Financial statements 9 Notes to the financial statements 14 Definitions
More informationTulikivi Corporation
Tulikivi Corporation INTERIM REPORT 1-6/2011 04.08.2011 Interim report 1-6/2011 The Tulikivi Group s second-quarter net sales were EUR 15.6 million (EUR 14.7. million, 04-06/2010), the operating loss EUR
More informationVattenfall Q1 results 2010
Vattenfall Q1 results 2010 Presentations by Øystein Løseth, CEO and Dag Andresen, CFO Agenda CEO Øystein Løseth: Financial highlights Generation volumes Market price development Important events CFO Dag
More informationFinancial Statements Fortum Corporation 1 February 2019
Financial Statements 2018 Fortum Corporation 1 February 2019 2018 Highlights Strategy updated financial targets and dividend policy unchanged Uniper as an associated company Year-end ownership 49.99% Higher
More informationFortum Corporation Financial Statements Bulletin January-December 2017
Financial Statements Bulletin January-December 2 February 2018 Fortum Corporation Domicile Espoo Business ID 1463611-4 Contents Strong results and efficient strategy implementation - Proposed dividend
More informationAHLSTROM FINAL ACCOUNTS RELEASE
AHLSTROM FINAL ACCOUNTS RELEASE Ahlstrom-Munksjö Oyj: Ahlstrom FINANCIAL STATEMENTS RELEASE April 26, 2017 Ahlstrom Final Accounts Release Ahlstrom final accounts show a record high quarterly operating
More informationInterim Report January June 2014
Interim Report January June 2014 April June 2014 Net sales amounted to SEK 36,575 million (38,308). The underlying operating profit 1 amounted to SEK 4,086 million (5,399). Operating profit amounted to
More informationContents. Tables to the Financial Statements Bulletin
Contents Improved results on higher market prices New phase in strategy implementation started 3 Fortum President and CEO Pekka Lundmark s comments 4 Strategy update in November 6 Uniper investment 6 Financial
More informationInterim Report January June 2011
Interim Report January June Lars Nyberg President and CEO 1 A united TeliaSonera shows strong profitability Net sales SEK 25,894 million (27,065) Increased 3.0 percent in local currencies EBITDA* SEK 9,9
More informationAgenda. Power Division Fortum s nuclear generation Nuclear capacity upgrades in Sweden Nuclear s strategic role
1 2 Agenda Power Division Fortum s nuclear generation Nuclear capacity upgrades in Sweden Nuclear s strategic role 3 Power key figures Q2/2010 Operations in Finland, Sweden, UK, Germany, UAE 1,700 employees
More informationQ U A R T E R L Y R E P O R T 2018 FIRST QUARTER
Q U A R T E R L Y R E P O R T 2018 FIRST QUARTER Contents Highlights 3 Group summary 5 Business areas 6 Other matters 7 Outlook 7 Financial statements 8 Notes to the financial statements 13 Definitions
More informationVattenfall reports another set of strong annual accounts
YEAR-END REPORT 18 FEBRUARY 2005 Vattenfall reports another set of strong annual accounts Net sales increased by 1.3 per cent to SEK 113,366 million (111,935) Operating profit increased by 28.2 per cent
More informationVattenfall Q3 and 9M 2012 results
Vattenfall Q3 and 9M 2012 results Øystein Løseth, CEO and Ingrid Bonde, CFO Conference Call, 30 October 2012 Q3 Highlights (1) Underlying operating profit SEK 1.3 bn below last year - 12% higher production
More informationImproving profitability, solid financial position and updated financial targets
Improving profitability, solid financial position and updated financial targets Jussi Noponen CFO Metsä Board Capital Markets Day 2017 Disclaimer This presentation includes forward-looking statements.
More informationVattenfall Q2 and H1 results 2015
Vattenfall Q2 and H1 results 2015 Magnus Hall, CEO and Ingrid Bonde, CFO Presentation 21 July 2015 Financial highlights SEK bn Q2 2015 Q2 2014 H1 2015 H1 2014 FY 2014 Net Sales 36.1 36.6 81.5 82.5 165.9
More informationVattenfall 2001: Strong Growth and Improved Profit
YEAR END REPORT FEBRUARY 22 2002 Vattenfall 2001: Strong Growth and Improved Profit Substantial improvement in profit, operating profit increased to SEK 10.0 billion (6.7) The return on capital employed,
More informationANNUAL GENERAL MEETING President and CEO Jussi Pesonen
ANNUAL GENERAL MEETING 2014 President and CEO Jussi Pesonen Contents Year 2013 in transformation strategy Sustainable competitiveness Summary 2 3 YEAR 2013 Profitability over two economic slowdowns Europe
More informationVattenfall Q3 and 9M 2013 results
Vattenfall Q3 and 9M 2013 results Øystein Løseth, CEO and Ingrid Bonde, CFO Conference call for analysts and investors, 29 October 2013 Q3 Highlights Underlying EBIT SEK 4.0 bn (4.5) - Higher costs for
More informationin brief. Activities in 2002
Annual Report 2002 Agenda Page 1. 2002 in brief 3 2. Financial highlights 5 3. Business trends 10 4. Status of capitalisation 20 5. Trends in business areas 21 6. Corporate governance 39 7. Outlook for
More informationFortum Corporation. Financial Statements Bulletin February Fortum Corporation Domicile Espoo Business ID
Financial Statements Bulletin 2 February 2011 Fortum Corporation Domicile Espoo Business ID 1463611-4 Financial Statements Bulletin 2 February 2011 at 9:00 EET Comparable operating profit remained firm
More informationInterim Report Q4/2015 Statkraft AS
Q4 Interim Report Q4/2015 Statkraft AS Key figures NOK million 2015 2014 Change 2015 2014 Change From income statement 1) Gross operating revenues, underlying 15 101 13 754 1 346 50 578 48 348 2 230 Net
More informationFocused Disciplined Striving. Q results 11 May 2016
Focused Disciplined Striving Q1 2016 results 11 May 2016 Q1 2016 dominated by one-off effect Q1 2016 Summary EBITDA 1 Important spin-off milestones achieved 2.8bn 3.1bn FY16 outlook confirmed EBITDA &
More informationFORTUM A leading power and heat company in the Nordic area. Investor/Analyst material December 2010
FORTUM A leading power and heat company in the Nordic area Investor/Analyst material December 2010 Disclaimer This presentation does not constitute an invitation to underwrite, subscribe for, or otherwise
More informationFortum Corporation Supplying power for large scale businesses
Fortum Corporation Supplying power for large scale businesses Ann Boije af Gennäs, Sales Manager, Origination Saara Rantanen, Originator, Origination Content I. Fortum s competitive edge as Power Counterparty
More informationInterim Report January September 2014
Interim Report January September 2014 Johan Dennelind President & CEO Capital Markets Day summary 2018 2013 2014 2015 2016 2017 The New TeliaSonera Big changes Stabilize & shape Transform & perform Transform
More informationH Results. 8 th August 2018
H1 2018 Results 8 th August 2018 Strong H1 2018 Highlights Key Financials 1 m bn Strong EBIT development: +10% H1 2018 vs. H1 2017 1,767 1,942 19.2 Adj. Net Income increased +19% YoY FY 2018 guidance confirmed:
More informationLatvenergo Group Unaudited Results 9M 2016
Investor Conference Webinar Presentation Latvenergo Group Unaudited Results 9M 2016 7 December 2016 Guntars Baļčūns, CFO Disclaimer This presentation and any materials distributed or made available in
More informationInterim Review January 1 June 30, 2011
Interim Review January 1 June 30, 2011 Metso Corporation s Interim Review January 1 June 30, 2011 Metso successful in new orders Figures in brackets, unless otherwise stated, refer to the comparison period,
More informationSecond-quarter 2007 report. Christian Berg, President and CEO Hafslund ASA 20 July 2007
Second-quarter 2007 report Christian Berg, President and CEO Hafslund ASA 20 July 2007 Key events second quarter 2007 After-tax profit of NOK 6,727 million (NOK 7,439 million), of which NOK 6,513 million
More informationHafslund. A pure-play utility. Investor presentation October 2016
Hafslund A pure-play utility Investor presentation October 2016 Disclaimer Certain statements included within this presentation contain (and oral communications made by or on behalf of Hafslund may contain)
More informationLassila & Tikanoja Q2/ July 2011 Ville Rantala President and CEO (acting)
Lassila & Tikanoja Q2/2011 26 July 2011 Ville Rantala President and CEO (acting) Highlights of Q2/11 Net sales Operating profit Acquisitions Net sales EUR 162.2m (EUR 149.0m) +8.8% (yoy) Increase in net
More informationVattenfall Full Year results 2009
Vattenfall Full Year results 2009 Presentations by Lars G. Josefsson, CEO and Dag Andresen, CFO Agenda CEO Lars G. Josefsson: CFO Dag Andresen: 2009 highlights Financial highlights Generation volumes Electricity
More informationInterim Report Q1/2017 Statkraft AS
Interim Report Q1/2017 Statkraft AS 1 Key figures NOK million 2017 2016 Change 2016 From income statement Share of profit/loss in equity accounted investments 326 376-50 474 Gross operating revenues, underlying
More informationEUR million Apr-Jun 2018 Apr-Jun 2017 Change, % EUR million Jan-Jun 2018 Jan-Jun 2017 Change, %
Stockholm, Sweden, 9 August Eltel Group Interim report January June April June Group net sales decreased 10.4% to EUR 295.5 million (329.8), mainly as a result of divestments and on-going discontinuation
More information