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Fortum (FORTUM) investor relations material
Fortum Investor Day 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Investor Day 2025 summary25 Nov, 2025
Strategic priorities and growth vision
Focus on value creation through core Nordic operations, leveraging hydro and nuclear assets, and expanding an 8 GW renewables development portfolio for future growth.
Nordic market demand is projected to rise from 400 TWh to 550 TWh by 2030 and up to 975 TWh by 2050, driven by data centers, electrification, and industrial decarbonization.
Shift from wholesale commodity market to bilateral contracts with industrial customers, aiming to increase long-term PPAs and stabilize revenue streams.
New strategic targets include a 14% RONA, maintaining at least a BBB credit rating, and a dividend payout ratio of 60%-90% of comparable EPS.
Sustainability targets include net zero emissions by 2040, coal exit by 2027, and updated biodiversity goals.
Financial guidance and capital allocation
Targeting a €330 million improvement in comparable operating profit by 2030, driven by normalization of hydro and nuclear volumes, efficiency gains, and growth in consumer solutions.
Committed capital expenditure of €2 billion for 2026-2030, with flexibility for an additional €2.5 billion in growth opportunities, subject to strict investment criteria (WACC + 150-400 bps hurdle rate).
Growth capex of €750 million and maintenance capex of €1.25 billion planned for 2026-2030.
Updated hedging target: at least 25% of rolling 10-year Nordic generation hedged by end of 2028, with 18% hedged at end of 2024.
Dividend policy remains at 60-90% of comparable EPS, with a strong track record of annual cash dividends since 1998.
Business development and new opportunities
Ready-to-build renewables target of 1.2 GW by 2028, with 8 GW in permitting phase; new investments only with linked PPAs.
Flexibility solutions pipeline of 2.5 GW by 2028, including 2 GW from customer services and 0.5 GW from own assets.
Active engagement with data centers and industrial customers, leveraging a land bank of 12 industrial sites (5 GW grid capacity) to accelerate large-scale projects.
Consumer solutions business targets €40 million profit improvement by 2030, focusing on organic growth, digital services, and operational efficiency.
M&A remains a strategic option, with focus on synergetic bolt-on acquisitions in renewables, district heating, and consumer solutions.
Bridge RONA target to EUR 330m earnings improvement
What growth areas will EUR 2.5bn capex target
What drives the updated hedging and premium KPIs
Data center PPA strategy and pricing approach
Prioritize additional EUR 2.5B CapEx deployment
Drivers of long-term optimization premium
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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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