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    FORTUM   FI0009007132

FORTUM OYJ

(FORTUM)
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Fortum Oyj : concludes the sale of its 50% stake in Stockholm Exergi .

09/20/2021 | 09:02am EDT

FORTUM CORPORATION STOCK EXCHANGE RELEASE 20 SEPTEMBER 2021 AT 15.50 EEST

Release category: Other information disclosed according to the rules of the Exchange

Fortum has today concluded the sale of its 50% ownership in the Swedish district heating and cooling company Stockholm Exergi Holding AB (publ) to a consortium of European institutional investors of APG, Alecta, PGGM, Keva, and AXA. The signing of the transaction was announced on 30 June 2021.

The total consideration of the sale amounts to SEK 29.5 billion (approximately EUR 2.9 billion based on the current currency rate). Fortum will record a tax-exempt capital gain of approximately EUR 2.4 billion in the City Solutions segment's third-quarter 2021 results.

Fortum continuously reviews and optimises its business and asset portfolio to create value and enable new growth. In particular, Fortum has a good track-record in transforming and decarbonising assets and businesses. In 2020, Fortum divested the district heating businesses in Joensuu and Järvenpää, in Finland, and in July 2021, Fortum divested its district heating businesses in the Baltics.

Strategic reviews of the heating and cooling businesses in Poland and the Consumer Solutions business are still ongoing.

Fortum Corporation
Ingela Ulfves, VP, IR and Financial Communications

Further information:

Media:
Fortum News Desk, tel.
+358 40 198 2843

Investors & analysts:
Ingela Ulfves, VP, IR and Financial Communications, tel. +358 40 5151 531
Rauno Tiihonen, IR Manager, tel. +358 10 453 6150
Carlo Beck, IR Manager, tel. +49 172 751 2480
Nora Hallberg, IR Manager, tel. +358 40 720 1775

Distribution:

Nasdaq Helsinki
Main media
www.fortum.com

Disclaimer

Fortum Oyj published this content on 20 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 September 2021 13:01:03 UTC.


© Publicnow 2021
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Sales 2021 60 283 M 70 187 M 70 187 M
Net income 2021 3 577 M 4 165 M 4 165 M
Net Debt 2021 5 358 M 6 238 M 6 238 M
P/E ratio 2021 6,82x
Yield 2021 4,11%
Capitalization 24 508 M 28 508 M 28 535 M
EV / Sales 2021 0,50x
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Nbr of Employees 20 184
Free-Float 47,3%
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Mean consensus HOLD
Number of Analysts 17
Last Close Price 27,59 €
Average target price 25,18 €
Spread / Average Target -8,73%
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Managers and Directors
Markus Heikki Erdem Rauramo President & Chief Executive Officer
Bernhard Günther Chief Financial Officer
Veli-Matti Reinikkala Chairman
Anja McAlister Deputy Chairman
Essimari Kairisto Independent Director
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