Fortum (FORTUM) AGM 2026 summary

Opening remarks and agenda

• Chairman welcomed shareholders, outlined safety instructions, and introduced the meeting agenda, emphasizing the review of 2025 financial events and achievements.

• Legal and organizational procedures were confirmed, including the appointment of the meeting chair and scrutineers.

• Statutory requirements for convening the AGM were met, with 2,451 shareholders present or represented, accounting for 77.12% of shares.

• CEO Markus Rauramo presented an overview of the company's performance and strategic direction for 2025 and beyond.

Financial performance review

• Comparable EBITDA for 2025 was €1.24 billion, down from €1.56 billion in 2024, due to lower production volumes and electricity prices.

• Revenue decreased to €4.99 billion in 2025 from €5.8 billion in 2024.

• Capital allocation prioritized a strong balance sheet, with a BBB+ credit rating and gearing capped at 2.5x net debt/EBITDA.

• Dividend payout ratio set at 90% of comparable earnings per share, with a proposed dividend of EUR 0.74 per share.

• Auditor confirmed financial statements give a true and fair view, with no material issues in sustainability reporting.

Board and executive committee updates

• Nine board members elected, with a mix of energy, technology, and business expertise; two new candidates proposed for future election.

• Board committees (Audit and Risk, People and Remuneration, Technology and Investment) met 17 times, with a 99% attendance rate.

• Board self-evaluation conducted in late 2025 to improve effectiveness.

• Board size increased to 10 members to enhance committee work and skill diversity.