Fortum Oyj (OTC) ( (FOJCY) ) has released its Q4 earnings. Here is a breakdown of the information Fortum Oyj (OTC) presented to its investors.
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Fortum Oyj, a leading energy company primarily operating in the Nordics, specializes in CO2-free power generation and energy solutions, with a focus on hydro, nuclear, wind, and solar power. Fortum’s latest financial results for 2024 highlighted a strategic shift towards core businesses, divestments, and operational efficiency amidst a volatile power market. Despite a decrease in sales and operating profit due to lower power prices and volumes, Fortum maintained a strong financial position, bolstered by a significant divestment in its recycling and waste business. The company reported a comparable EBITDA of EUR 1,556 million and an operating profit of EUR 1,325 million for the year. Fortum’s strategic focus includes delivering reliable clean energy, driving decarbonization, and expanding renewable energy projects. The company plans to maintain a robust financial position with capital expenditures and a focus on environmental targets. Looking ahead, Fortum aims to strengthen its core operations and pursue growth opportunities in renewable energy and clean hydrogen, aligning with its commitment to a sustainable energy transition.