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Fortum (FORTUM) investor relations material

Fortum Investor Presentation summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Investor Presentation summary1 Sep, 2025

Strategic positioning and market environment

  • Focus on clean energy with 90% of earnings from generation, mainly nuclear (52%) and hydro (44%), and specific emissions of 11 gCO2/kWh in 2024.

  • Strategic priorities include delivering reliable clean energy, driving industrial decarbonisation, and transforming operations.

  • Nordic power market offers competitive, clean energy with demand growth driven by electrification and decarbonisation, especially from data centers and industrial customers.

  • Large portfolio of industrial sites with strong grid connections and CO2-free power available for new business entrants.

  • Market prices are currently too low to incentivize new investments, with forward prices for 2028-33 at ~€45/MWh.

Financial performance and capital allocation

  • Achieved power price in Q2 2025 was €48.1/MWh, but realised blended market price was lower at €26.4/MWh; high hedge ratio and optimisation premium supported results.

  • Comparable operating profit declined due to lower hydro and nuclear volumes; financial net debt-to-EBITDA at 0.9x, indicating strong balance sheet.

  • Dividend of €1.3 billion paid, with a payout ratio policy of 60-90% of comparable EPS, applying the upper end when balance sheet is strong and investments are low.

  • Capital expenditure guidance for 2025-2027 is €1.4 billion, with annual maintenance of €250 million and growth investments of €150-300 million.

  • Efficiency improvement programme targets €100 million fixed cost reduction by end of 2025.

Operational highlights and business segments

  • Generation segment's profit decreased mainly due to lower volumes and prices, partially offset by high hedge ratio and optimisation.

  • Consumer Solutions achieved record profits, driven by improved gas margins in Poland and cost synergies from brand mergers.

  • Other Operations improved due to divestments in Circular Solutions.

  • Power generation in 2024 was 46.3 TWh, with 52% nuclear and 44% hydro; heat production was 4.1 TWh, with significant shares from waste, coal, and bio.

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Q3 202529 Oct, 2025
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Frequently asked questions

Fortum Oyj, operates in the generation and sale of electricity and heat. The company has hydroelectric power plants; cogeneration; wind power; solar power and bio mass power plants; and a heat network in Finland. It also involves into Baltic Sea oil shale-based power plant; Uusnurmes plant in Estonia; Eastern Wind Power Oy renewable energy projects, which consist of wind turbines; and Lohja Energy Ab, a waste-to-energy facility. In addition, the company operates a private nuclear power plant in Finland. The company is based in Epsoo, Finland.

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