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    FORTUM   FI0009007132

FORTUM OYJ

(FORTUM)
  Report
Real-time Estimate Tradegate  -  03:10 2022-09-27 am EDT
14.11 EUR   +1.97%
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Fitch affirms Fortum's long-term rating of BBB with negative outlook on Uniper's stabilisation plan

08/05/2022 | 10:11am EDT

FORTUM CORPORATION INVESTOR NEWS 5 AUGUST 2022 AT 17:10 EEST

Fitch Ratings has affirmed Fortum's current long-term credit rating at BBB with negative outlook. According to Fitch, the affirmation mainly reflects the rating agency's view that Fortum is well-shielded from the losses incurred by Fortum's German subsidiary Uniper, following Uniper's stabilisation package that was agreed with the German State and announced on July 22 2022.

Fitch assesses that Fortum's rating is for example supported by the company's clean electricity generation business, which is benefitting from high electricity prices.

Fortum's objective is to have a solid investment grade rating of at least BBB to preserve financial flexibility and good access to capital markets.

Link to the Fitch report: Fitch Affirms Fortum Oyj on Uniper SE's Stabilisation Plan

Fortum Corporation

Ingela Ulfves
Vice President, Investor Relations and Financial Communications

Further information:
Rauno Tiihonen, IR Manager, tel. +358 10 453 6150
Carlo Beck, Manager, Investor Relations, tel. +49 172 751 2480
Jouni Huttunen, VP, Treasury, tel. +358 50 452 4649

Media:
Fortum News Desk +358 40 198 2843

Fortum
Fortum and Uniper form a European energy group committed to enabling a successful transition to carbon neutrality for everyone. Our 50 gigawatts of power generating capacity, substantial gas import and storage operations, and our global energy trading business enable us to provide Europe and other regions with a reliable supply of low-carbon energy. We are already Europe's third largest producer of CO2-free electricity, and our growth businesses focus on clean power, low-carbon energy, and the infrastructure for tomorrow's hydrogen economy. In addition, we design solutions that help companies and cities reduce their environmental footprint. Our 20,000 professionals and operations in 40 countries give us the skills, resources, and reach to empower the energy evolution toward a cleaner world. fortum.com; uniper.energy

https://news.cision.com/fortum/r/fitch-affirms-fortum-s-long-term-rating-of-bbb-with-negative-outlook-on-uniper-s-stabilisation-plan,c3610803

https://mb.cision.com/Main/15253/3610803/1612083.pdf

https://news.cision.com/fortum/i/fortum-4612,c3075683

(c) 2022 Cision. All rights reserved., source Press Releases - English

Stocks mentioned in the article
ChangeLast1st jan.
FORTUM OYJ -0.07% 13.84 Delayed Quote.-48.72%
UNIPER SE 22.67% 4.34 Delayed Quote.-89.62%
All news about FORTUM OYJ
09/26Fortum draws on state loan deal as it braces for more turbulence
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09/26Fortum Draws Required $337 Million from Finnish Government's Liquidity Facility
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Analyst Recommendations on FORTUM OYJ
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Financials
Sales 2022 125 B 121 B 121 B
Net income 2022 -3 900 M -3 762 M -3 762 M
Net Debt 2022 6 021 M 5 809 M 5 809 M
P/E ratio 2022 -3,15x
Yield 2022 6,66%
Capitalization 12 294 M 11 860 M 11 860 M
EV / Sales 2022 0,15x
EV / Sales 2023 0,16x
Nbr of Employees 18 961
Free-Float 47,1%
Chart FORTUM OYJ
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Technical analysis trends FORTUM OYJ
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 14
Last Close Price 13,84 €
Average target price 16,51 €
Spread / Average Target 19,3%
EPS Revisions
Managers and Directors
Markus Heikki Erdem Rauramo President & Chief Executive Officer
Bernhard GŘnther Chief Financial Officer
Veli-Matti Reinikkala Chairman
Anja McAlister Deputy Chairman
Essimari Kairisto Independent Director
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