Fortum (FORTUM) AGM 2025 summary

Opening remarks and agenda

• FY2024 financial statements and consolidated financial statements adopted; Board members and the President and CEO who served during FY2024 discharged from liability.

• CEO Markus Rauramo highlighted the Nordic clean-energy producer’s position and outlined the AGM agenda.

Financial performance review

• Generated 46.3 TWh, mainly from nuclear (52%) and hydro (44%); comparable EBITDA was €1.6 billion, with Generation contributing 90% and Consumer Solutions 10%.

• Revenue declined to €5.8 billion from €6.7 billion in 2023 amid lower electricity prices; comparable operating profit was €1,178 million and EPS €1.00.

• Net result was €900 million; cash flow from operations was €1.4 billion, and total assets were €17,307 million.

• Net debt to EBITDA fell to 0.2x, with an €8.2 billion liquidity reserve; divestments strengthened the balance sheet.

• Lower power prices weighed on results, while hedging and optimization supported achieved prices.

Board and executive committee updates

• Nine-member Board elected through the 2026 AGM: Mikael Silvennoinen as Chair, Jonas Gustavsson as Deputy Chair, and Ralf Christian, Luisa Delgado, Marita Niemelä, Teppo Paavola, Johan Söderström, Vesa-Pekka Takala and Stefanie Kesting.

• Leadership team included 38% women in top management, with new appointments in legal and HR and expertise across key energy sectors.