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

FORTUM OYJ

(FORTUM)
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Fortum Sells Finnish District Heating Business for EUR375 Million

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07/03/2020 | 03:49am EDT

By Dominic Chopping

 

Fortum Oyj said Friday that it has signed an agreement to sell its district heating business in the Jarvenpaa-Tuusula area in Finland to a consortium for 375 million euros ($422 million).

The Finnish state-controlled utility company said it expects to record a tax exempt capital gain of approximately EUR290 million in its third-quarter 2020 results.

The buying consortium consists of Finnish energy company Vantaa Energy Ltd., infrastructure investor Infranode and Finnish pension provider Keva.

The transaction is subject to customary closing conditions and is expected to be completed in the third quarter of 2020.

 

Write to Dominic Chopping at dominic.chopping@wsj.com

 


Stocks mentioned in the article
ChangeLast1st jan.
FORTUM OYJ -0.87% 16.015 Delayed Quote.-26.57%
WTI 0.94% 36.515 Delayed Quote.-36.69%
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Financials
Sales 2020 51 652 M 60 423 M 60 423 M
Net income 2020 1 771 M 2 071 M 2 071 M
Net Debt 2020 7 971 M 9 324 M 9 324 M
P/E ratio 2020 7,80x
Yield 2020 6,78%
Capitalization 14 350 M 16 871 M 16 787 M
EV / Sales 2020 0,43x
EV / Sales 2021 0,31x
Nbr of Employees 20 179
Free-Float 47,2%
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Technical analysis trends FORTUM OYJ
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 20
Average target price 18,64 €
Last Close Price 16,16 €
Spread / Highest target 61,6%
Spread / Average Target 15,4%
Spread / Lowest Target -20,8%
EPS Revisions
Managers
NameTitle
Markus Heikki Erdem Rauramo President & Chief Executive Officer
Matti Juhani Lievonen Chairman
Timo Tapani Karttinen Chief Financial Officer
Kim Juhani Ignatius Independent Non-Executive Director
Tiina Marjukka Tuomela Director & Executive VP-Generation Division
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