1. Homepage
  2. Equities
  3. Finland
  4. Nasdaq Helsinki
  5. Fortum Oyj
  6. News
  7. Summary
    FORTUM   FI0009007132

FORTUM OYJ

(FORTUM)
  Report
Delayed Nasdaq Helsinki  -  11:29 2022-06-23 am EDT
15.96 EUR   -3.71%
06/24Fortum - Fitch affirms Fortum's long-term rating of BBB, changes outlook to negative
AQ
06/24Fitch Revises Fortum's Outlook to Negative; Downgrades Short-Term IDR to 'F3'
AQ
06/24Fitch Ratings Cuts Fortum's Outlook to Negative on Possible Liquidity Issues
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Fortum Oyj : submits the Loviisa nuclear power plant operating licence application to the Government .

03/18/2022 | 03:11am EDT

Fortum [Power and Heat Oy] has submitted the Loviisa nuclear power plant operating licence application to the Finnish Government on 18.3.2022.

Fortum is seeking a new operating licence for both nuclear power plant units until the end of 2050. Fortum also applies for a licence to use the low- and intermediate-level radioactive waste final disposal facility located in Loviisa's current power plant area until 2090.

"We want to support the achievement of Finland's and Europe's carbon neutrality targets and enable the building of a reliable, competitive and sustainable energy system," says Simon-Erik Ollus, Executive Vice President, Generation Division.

"Loviisa power plant's lifetime extension is significant for all of Finland because it contributes to securing the supply of clean domestic electricity also in the future," Ollus adds.

"Our employees have done a really great job in security the reliability of electricity production throughout the history of the power plant. Thanks to their know-how and expertise, the Loviisa power plant is in good condition and we can safely continue its operations," says Sasu Valkamo, Vice President of Fortum's Loviisa nuclear power plant.

The Finnish Government will review Fortum's operating licence application. The Finnish Government will request statements from a range of various parties, including the Radiation and Nuclear Safety Authority, and will make its decision based on expert statements. The process is estimated to take about one year.

Media contacts:
Fortum News Desk, newsdesk[at] fortum[dot] com, +358 40 198 2843

Loviisa nuclear power plant

In 2021, the load factor at Fortum's fully-owned Loviisa nuclear power plant was 92.9%. The continuous development and modernisation of the power plant enable load factors that are among the best for pressurised water reactors on an international scale. During the past five years Fortum's investments in the Loviisa power plant have totalled about EUR 325 million. In 2021, the power plant produced a total of 8.2 terawatt hours (net) of electricity, which is more than 10% of Finland's electricity production. Fortum employs about 700 nuclear sector professionals, 530 of them work at the Loviisa power plant. Additionally, nearly 100 permanent employees of other companies work in the power plant area every day. More information: www.fortum.com/loviisa

Disclaimer

Fortum Oyj published this content on 18 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 March 2022 08:10:03 UTC.


© Publicnow 2022
All news about FORTUM OYJ
06/24Fortum - Fitch affirms Fortum's long-term rating of BBB, changes outlook to negative
AQ
06/24Fitch Revises Fortum's Outlook to Negative; Downgrades Short-Term IDR to 'F3'
AQ
06/24Fitch Ratings Cuts Fortum's Outlook to Negative on Possible Liquidity Issues
MT
06/23Fitch affirms Fortum's long-term rating of BBB, changes outlook to negative
AQ
06/23Hanna Masala appointed as Sitowise's new CFO
AQ
06/21NOVATEK May Consider Buying Russian Assets of Finnish Fortum
CI
06/17Gazprom Ready to Mull over Buying Fortum's Russian Assets
CI
06/17FORTUM OYJ : Gets a Sell rating from Bernstein
MD
06/17FACTBOX : Companies sell their businesses in Russia
RE
06/16Latest Finland reactor delay raises winter power supply concerns
RE
More news
Analyst Recommendations on FORTUM OYJ
More recommendations
Financials
Sales 2022 119 B 126 B 126 B
Net income 2022 1 160 M 1 224 M 1 224 M
Net Debt 2022 5 592 M 5 898 M 5 898 M
P/E ratio 2022 12,6x
Yield 2022 7,21%
Capitalization 14 173 M 14 950 M 14 950 M
EV / Sales 2022 0,17x
EV / Sales 2023 0,19x
Nbr of Employees 19 260
Free-Float 47,3%
Chart FORTUM OYJ
Duration : Period :
Fortum Oyj Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FORTUM OYJ
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 15,96 €
Average target price 20,46 €
Spread / Average Target 28,2%
EPS Revisions
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
Sector and Competitors
1st jan.Capi. (M$)
FORTUM OYJ-40.89%14 950
NEXTERA ENERGY-16.43%153 270
DUKE ENERGY CORPORATION-0.35%80 478
SOUTHERN COMPANY1.02%74 196
IBERDROLA, S.A.-3.41%67 393
DOMINION ENERGY, INC.-0.53%63 463