Inside information: Fortum to fully write down its Russian assets

Following the loss of control, the Russia segment will be deconsolidated and the Russian assets will be fully written down in Fortum''s second quarter 2023 financials. Fortum

Presentation to Research Analysts for Fortum Web-site

2. Return on net operating assets as per Fortum Corp. accounts for 1999-2002. Return on capital employed based on Neste Oil''s carve-out financials 3. ROCE = (Profit before taxes + financial

Fortum to write off $1.9 billion after Russia seized assets

Finnish energy group Fortum will fully write off the value of its Russian assets that were seized last month by Moscow, the company said while reporting first-quarter earnings that exceeded

Inside information: Fortum to fully write down its Russian assets

FORTUM CORPORATION INSIDE INFORMATION 11 MAY 2023 AT 9:00 EET. As Fortum communicated on 26 April, the Russian authorities have caused the change to Fortum''s Russian subsidiary PAO Fortum''s CEO and seized control of Fortum''s assets based on a Presidential decree (No. 302 of 25 April 2023).

Fortum January–September 2024 Interim Report: Resilient

FORTUM CORPORATION JANUARY–SEPTEMBER INTERIM REPORT 29 OCTOBER 2024 AT 9:00 EETThis release is a summary of Fortum''s January–September 2024 Interim Report. The complete report is attached to Fortum''s condensed consolidated income statement and consolidated cash flow statement include the Russia segment as discontinued

Fortum''s January–March 2022 Interim Report: Operating results

FORTUM CORPORATION JANUARY–MARCH 2022 INTERIM REPORT 12 MAY 2022 AT 9:00 EEST This release is a summary of Fortum''s January–March 2022 Interim Report. The complete report is. As the preferred path, this decision includes a potential divestment of Fortum''s Russian operations. The divestment process for Uniper''s Russian

Fortum Recognised as the Most Efficient Generating Company in Russia

FORTUM CORPORATION ONLINE RELEASE 4.5.2021. For the third year in a row, the Market Council ranked Fortum''s Russia Division the most efficient generating company in Russia. The Market Council is a non-profit partnership that supervises the wholesale electricity market in Russia.

Powering a thriving world | Fortum

29 October 2024, 9:00 Fortum January–September 2024 Interim Report: Resilient performance amid seasonally low Nordic power prices. All stock exchange and investor news. Other news and articles 29 November 2024, 11:07 Slush Week

Positive decision in Russia for Fortum''s investment in Uniper –

FORTUM CORPORATION STOCK EXCHANGE RELEASE 28 APRIL 2018 AT 15.25 EEST. The Russian Government Commission for Monitoring Foreign Investments has today approved Fortum''s filing under the Strategic Investment Law (SIL), which is a key step towards the completion of the Public Takeover Offer (PTO) on Uniper.

Inside information: Russia has issued a new presidential

In the decree, temporary management was introduced in relation to Fortum''s shares in the Russian subsidiary PAO Fortum (Fortum JSC). The book value of Fortum''s holdings (including holdings in TGC-1) in Russia was EUR 1.7 billion as of 31 December 2022. Fortum will publish further confirmed relevant information once available. Fortum Corporation

Fortum has sent notices of dispute to the Russian Federation due

FORTUM CORPORATION ONLINE NEWS 13 JULY 2023. Fortum has sent notices of dispute in order to protect its legal position and shareholder interests following the Russian Federation''s violations of its investment treaty obligations under the Bilateral Investment Treaties that Russia concluded with the Netherlands and Sweden.

Fortum Seeks ''Several'' Billion Euros From Russia Over Assets

Fortum Oyj is seeking compensation from Russia for what it calls an "unlawful seizure" of its assets, less than a year after the Finnish utility said it will write off the remainder

Fortum has won the right to build 5.6 MW of CSA-supported solar

FORTUM CORPORATION ONLINE NEWS 17 JUNE 2019 10:00 EEST Fortum has won the right to build 5.6 megawatt (MW) of solar capacity in a Russian Capacity Supply Agreement (CSA) auction. The power plant is

Finnish energy giant Fortum files legal action against

Finland''s biggest energy firm, Fortum, has launched arbitration proceedings against Russia, seeking compensation for what it calls "the unlawful seizure of its assets". The company accused Moscow of violating its

Fortum set to end the use of coal in its Russia division by the end

FORTUM CORPORATION INVESTOR NEWS 08 JULY 2021 AT 10:15 EEST Fortum has today signed an agreement to sell its Argayash coal-fired combined heat and power plant (CHP) to AO JSC Rusatom Smart Fortum set to end the use of coal in its Russia division by the end of 2022. 08 July 2021, 10:15 EEST

Fortum and SUENKO joint venture to start for heat supply in

FORTUM CORPORATION ONLINE NEWS 24 October 2017 Fortum and SUENKO have established a joint venture, JSC Ural-Siberian Heat and Power Company (YUSTEK), for the heat supply in Tyumen, Russia. VP Heat Business, Fortum Russia. YUSTEK is expected to start its full-scale operations in early 2018. Fortum Corporation Group

Fortum''s statement on our businesses in Russia

FORTUM CORPORATION ONLINE NEWS 24.2.2022 The geopolitical situation has changed dramatically today in Europe. As a company with long business ties and broad operations in Russia, we very much regret Russia''s attack on Ukraine and follow the situation with the highest attention. Fortum''s Russia division has seven thermal power plants in

Fortum to increase its wind capacity in Russia

The Fortum-Rusnano wind investment fund has made an investment decision on the construction of wind power parks with a total capacity of 236.6 MW in the Samara region in Russia. The Fortum-Rusnano wind investment fund was established by PAO Fortum and the Rusnano Group on a parity basis with the purpose of investing in wind energy in Russia.

Fortum Corp Analysis & Company Information

Fortum Corp (Fortum) is an energy company that generates, distributes, and sells electricity and heat. It also provides energy-related services. City Solutions, Uniper, Consumer Solutions, Russia, and Other. As of December 31, 2021, it had total power generation capacity of 47,099 MW and heat production capacity of 16,871 MW.

Fortum Corporation -

Fortum Corporation is an international energy group formed from the 1998 merger of two state-owned Finnish firms: Neste Oy, the nation''s main oil and gas corporation, and Imatran Voima Oy, the state power company. In May 1994 Neste and Russia''s Gazprom, the world leader in proven natural gas reserves, set up a joint venture called Gasum Oy

Fortum and STS Corporation joint venture for heat supply in

FORTUM CORPORATION ONLINE NEWS 5 July 2018 Fortum and STS Corporation have established a joint venture, JSC YUSTEK – Chelyabinsk, for the heat transportation and supply in Chelyabinsk, Russia.

Fortum

OverviewHistoryOperationsEnvironmental recordSocial responsibilitySee alsoExternal links

The predecessor of Fortum was Imatran Voima (IVO), which was founded in 1932 to operate the Imatrankoski hydroelectric power plant in Imatra. The construction of the Imatra power plant began already in 1922 as well as the power lines from Imatra to Helsinki and the power plant was opened in May 1929. Finnish Government made a decision to establish Imatran Voima Osakeyhtiö (IVO) in May 1932.

Fortum has initiated legal proceedings against the

Fortum has initiated arbitration proceedings against the Russian Federation and will claim compensation for the unlawful seizure of its assets in order to protect its legal position and shareholder interests.