Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  NASDAQ OMX HELSINKI LTD.  >  Fortum    FORTUM   FI0009007132

FORTUM

(FORTUM)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

Fortum : Finland may allow $2.9 billion nuclear waste fund to invest in stocks

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/02/2019 | 09:24am EDT

OSLO (Reuters) - Finland's 2.6 billion euro ($2.90 billion) Nuclear Waste Management Fund could be allowed to invest in stocks and other higher risk assets in order to boost returns, the country's ministry of economic affairs and employment said on Monday.

Built from annual payments by operators of nuclear plants, the fund guarantees that nuclear waste management can be arranged under all circumstances.

A working group tasked with assessing the investment activities concluded in a report that it could be broadened from its current restriction of only lending to the state and to energy suppliers.

The ministry will now start drafting proposals and initiate discussions to amend existing regulations.

"Interest rates are extremely low, it is not the best way to carry on. We examine different ways of making investments, in stocks or funds. Most likely we are going ahead to change the legislation," ministry adviser Anja Liukko told Reuters.

The fund has grown steadily during its 35 years in operation, with a further increase expected following the commissioning of the Olkiluoto 3 nuclear reactor in 2020.

"It is the working group's opinion that investment activity can be generated by creating better opportunities for improved long-term fund performance," the ministry said in a statement.

However, moderate risk-taking and ensuring that there are, at all times, enough assets available to cover the costs of nuclear waste, should remain the leading principle, it added.

The legislative process will likely be completed by the end of 2021.

"There seems to be a consensus (in the government) that this is the way to move on," Liukko said.

(Editing by Terje Solsvik, editing by Louise Heavens)

By Lefteris Karagiannopoulos

Stocks mentioned in the article
ChangeLast1st jan.
FORTUM 1.03% 21.66 Delayed Quote.12.25%
WASTE MANAGEMENT 0.48% 115.28 Delayed Quote.29.54%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on FORTUM
09/17Poland and Lithuania see Nord Stream 2 as threat to energy security
RE
09/13FORTUM : Fortum Supplier Day took a look at what's ahead
AQ
09/12FORTUM : Supplier Day took a look at what's ahead
PU
09/12FORTUM : Supplier Day took a look at what's ahead
AQ
09/06FORTUM : and several European industrial companies signed memorandums of underst..
AQ
09/05Seven European Companies Partner With Equinor on Carbon Capture
DJ
09/05Norway's CCS project gets boost from European industry
RE
09/05Czech investor takes stake in Casino after failed Metro bid
RE
09/02FORTUM : Finland may allow $2.9 billion nuclear waste fund to invest in stocks
RE
08/27FORTUM : financial calendar in 2020
AQ
More news
Financials (EUR)
Sales 2019 5 463 M
EBIT 2019 1 168 M
Net income 2019 1 271 M
Debt 2019 5 307 M
Yield 2019 5,08%
P/E ratio 2019 15,0x
P/E ratio 2020 14,6x
EV / Sales2019 4,49x
EV / Sales2020 4,42x
Capitalization 19 240 M
Chart FORTUM
Duration : Period :
Fortum Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FORTUM
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 22
Average target price 21,50  €
Last Close Price 21,66  €
Spread / Highest target 24,7%
Spread / Average Target -0,73%
Spread / Lowest Target -19,2%
EPS Revisions
Managers
NameTitle
Pekka Ilmari Lundmark President & Chief Executive Officer
Matti Juhani Lievonen Chairman
Markus Heikki Erdem Rauramo Chief Financial Officer
Kim Juhani Ignatius Director
Eva Gerd Alice Hamilton Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
FORTUM12.25%21 047
NEXTERA ENERGY INC29.39%107 750
ENEL SPA31.15%74 320
DUKE ENERGY CORP9.49%68 846
DOMINION ENERGY INC.13.24%66 509
IBERDROLA32.97%65 603