Edition:
United Kingdom

Fortum Oyj (FORTUM.HE)

FORTUM.HE on Helsinki Stock Exchange

18.95EUR
4:59pm BST
Change (% chg)

€0.02 (+0.11%)
Prev Close
€18.93
Open
€18.99
Day's High
€19.17
Day's Low
€18.89
Volume
1,681,334
Avg. Vol
1,725,729
52-wk High
€22.91
52-wk Low
€17.97

Latest Key Developments (Source: Significant Developments)

Uniper Shareholders Vote Against Appointment Of Special Auditor
Wednesday, 22 May 2019 

May 22 (Reuters) - Uniper annual general meeting::CFO SAYS ACCORDING TO OUR LATEST DATA, ELLIOT IS HOLDING AROUND 17.8% OF SHARES AND KNIGHT VINKE IS HOLDING 5.6% .ELLIOT REPRESENTATIVE PROPOSES TO POSTPONE VOTE ON APPOINTING SPECIAL AUDITOR FOR UNIPER UNTIL NEXT AGM .UNIPER CHAIRMAN SAYS AGM VOTES IN FAVOUR OF POSTPONING THE DISCHARGE OF MANAGEMENT BOARD FOR 2017, 2018 .UNIPER CHAIRMAN SAYS AGM VOTES AGAINST THE APPOINTMENT OF A SPECIAL AUDITOR .  Full Article

Fortum Says Remaining Concerns At Uniper Need To Be Addressed
Tuesday, 21 May 2019 

May 21 (Reuters) - Fortum ::WILL NOT VOTE IN FAVOUR OF UNIPER <<>> SPECIAL AUDIT MOTION.DO NOT CONSIDER IT APPROPRIATE TO DISCHARGE UNIPER MANAGEMENT FOR 2017 AND 2018 WHILE OUR CONCERNS REMAIN UNADDRESSED.PREFERENCE IS TO POSTPONE UNIPER DISCHARGE VOTE, IN ORDER TO PROVIDE ADDITIONAL TIME FOR THIS ISSUE TO BE RESOLVED SATISFACTORILY.LOOKING FORWARD TO WORKING WITH THE RECONSTITUTED UNIPER MANAGEMENT TEAM ONCE THE NEW CEO AND CFO ARE IN OFFICE.REMAINING CONCERNS AT UNIPER NEED TO BE ADDRESSED AND FURTHER PROGRESS MUST BE MADE ON PUTTING INTO ACTION A SHARED VISION FOR OUR COMPANIES.  Full Article

Uniper Says No News On Talks With Major Shareholder Fortum
Tuesday, 7 May 2019 

May 7 (Reuters) - Uniper ::CFO SAYS THERE IS NO NEWS FROM CONVERSATIONS WITH FORTUM <<>>.CFO SAYS FIRST ROUND OF TALKS WITH GOVENRMENT ABOUT IMPLEMENTING COAL EXIT DECISIONS HAS TAKEN PLACE.CFO SAYS NORD STREAM 2 CONSORTIUM HAS DRAWN DOWN 650 MILLION EUR OF UNIPER LOAN, UNIPER'S FINANCIAL COMMITMENT OF TOTAL 950 MILLION EUR LOAN IS UNCHANGED.  Full Article

Fortum Q1 Comparable EBIT Below Expectations At 408 Million Euros
Friday, 26 Apr 2019 

April 26 (Reuters) - Fortum Oyj ::FORTUM JANUARY-MARCH 2019 INTERIM REPORT: POSITIVE EFFECT OF IMPROVED PRICES OFFSET BY LOWER HYDRO VOLUMES.Q1 COMPARABLE EBIT 408 MILLION EUROS VERSUS 419 MILLION IN REUTERS POLL.CAPITAL EXPENDITURE, INCLUDING MAINTENANCE BUT EXCLUDING ACQUISITIONS, IS EXPECTED TO BE IN RANGE OF EUR 600-650 MILLION IN 2019.IN 2020, CAPITAL EXPENDITURE IS EXPECTED TO DECLINE.RESULTS WERE IMPACTED BY TWO MAIN DRIVERS: HIGHER POWER PRICES AND LOWER HYDRO PRODUCTION VOLUMES.GENERATION SEGMENT'S NORDIC HEDGE PRICE FOR 2019 IS CLEARLY ABOVE LAST YEAR'S LEVEL.LOW RESERVOIR LEVELS AT BEGINNING OF QUARTER NEGATIVELY AFFECTED HYDRO PRODUCTION.ACHIEVED POWER PRICE FOR GENERATION SEGMENT INCREASED BY 14%..RESULT OF RUSSIA SEGMENT IMPROVED, MEASURED IN ROUBLES, BUT SUFFERED FROM UNFAVOURABLE ROUBLE-EURO EXCHANGE RATE.  Full Article

Fortum Selected To Become Guaranteeing Electricity Supplier In Chelyabinsk
Thursday, 4 Apr 2019 

April 4 (Reuters) - Fortum Oyj ::FORTUM SELECTED TO BECOME GUARANTEEING ELECTRICITY SUPPLIER IN CHELYABINSK TOGETHER WITH ENERGY SALES COMPANY VOSTOK.MINISTRY OF ENERGY OF RUSSIAN FEDERATION SELECTED FORTUM AND VOSTOK'S JV TO BECOME GUARANTEEING ELECTRICITY RETAIL SUPPLIER TO 1.5 MILLION ELECTRICITY CUSTOMERS IN CHELYABINSK REGION AS OF 1 JULY 2019.JOINT VENTURE COMMITTED TO REIMBURSE 100% OF RUB 4.8 BILLION DEBT OF CHELYABENERGOSBYT, CORRESPONDING TO APPROXIMATELY EUR 66 MILLION.TRANSACTION WILL REQUIRE A LIMITED EQUITY INVESTMENT FROM FORTUM AS JOINT VENTURE PLANS TO FINANCE MAJOR PART OF REIMBURSEMENT WITH EXTERNAL DEBT.FINANCIAL NET IMPACT FOR FORTUM IS FURTHER DECREASED BY FACT THAT FORTUM IS SINGLE LARGEST CREDITOR WITH EUR 11 MILLION OF DEBT.  Full Article

Fortum CEO says welcomes fresh cooperation talks with Uniper
Tuesday, 5 Feb 2019 

Feb 5 (Reuters) - Fortum ::CEO SAYS WE ARE DELIGHTED THAT UNIPER IS NOW COMMITTED TO A FRESH START IN ORDER TO ESTABLISH IN EARNEST HOW THE COMPANIES CAN WORK TOGETHER STRATEGICALLY AND OPERATIONALLY.CEO SAYS IT IS IN THE INTEREST OF EVERYBODY THAT WE RAPIDLY ADVANCE NOW TO CREATE VALUE FOR THE STAKEHOLDERS OF BOTH COMPANIES.  Full Article

Fortum Wins Right To Build 250 MW Solar Power Plant In India
Friday, 21 Dec 2018 

Dec 21 (Reuters) - Fortum Oyj ::WINS THE RIGHT TO BUILD A 250 MW SOLAR POWER PLANT IN INDIA.CAPITAL EXPENDITURE IS ESTIMATED TO BE APPROXIMATELY EUR 135 MILLION.SOLAR PARK WILL BE ENTITLED TO A FIXED TARIFF OF 2.89 INR/KWH FOR 25 YEARS.WON RIGHT FROM GUJARAT URJA VIKAS NIGAM LTD. TO BUILD A 250 MEGAWATT (MW) SOLAR POWER PLANT.COMMISSIONING OF PLANT IS EXPECTED IN Q4 OF 2020.  Full Article

Fortum CEO Says There Could Be Divestments In The Future
Tuesday, 13 Nov 2018 

Fortum Oyj ::FORTUM CEO SAYS THERE COULD BE DIVESTMENTS IN THE FUTURE.  Full Article

Fortum says to pay EUR 20 mln to help replenish Nasdaq default fund
Friday, 14 Sep 2018 

Sept 14 (Reuters) - Fortum Oyj ::NASDAQ CLEARING REQUESTS MEMBERS TO REPLENISH DEFAULT FUND - FORTUM'S CONTRIBUTION EUR 20 MILLION.FORTUM WILL BOOK APPROXIMATELY EUR 20 MILLION IN ITS Q3 RESULTS AS A FINANCING COST.FORTUM'S PARTICIPATION IN DEFAULT FUND WAS APPROXIMATELY EUR 30 MILLION AND REQUESTED REPLENISHMENT IS APPROXIMATELY EUR 20 MILLION.FORTUM EXPECTS NASDAQ TO HAVE ADEQUATE COLLATERAL AND SECURITY ARRANGEMENTS AT ALL TIMES AND WE WILL MONITOR SITUATION CAREFULLY.  Full Article

Fortum Secures First Russian Clearance For Uniper Deal
Monday, 4 Jun 2018 

June 4 (Reuters) - Fortum Oyj ::FORTUM RECEIVES CLEARANCE FOR UNIPER INVESTMENT UNDER RUSSIAN STRATEGIC INVESTMENT LAW.SAYS COMPLETION OF FORTUM'S PUBLIC TAKEOVER OFFER (PTO) ON UNIPER STILL REQUIRES MERGER CLEARANCES UNDER COMPETITION LAW IN RUSSIA AND EU, BOTH OF WHICH ARE IN PROCESS.SAYS EXPECTS TO HAVE RECEIVED ALL REGULATORY DECISIONS IN MID-2018 AND TO CLOSE PTO SHORTLY THEREAFTER.  Full Article

Photo

Uniper, Fortum should explore tie-up to end deadlock: investors

FRANKFURT/DUESSELDORF, Germany Some small shareholders in Uniper see room for a tie-up with top shareholder Fortum, joining activist calls to end a standoff after the Finnish group's acrimonious failed takeover attempt.