Fortum, an energy company, exceeded analysts’ average expectations at the beginning of the year despite facing some challenges. Despite a turnover of EUR 2,015 million in January-March, which fell short of the comparison period a year ago, it surpassed the consensus forecast of 1,828 million euros collected by seven analysts.
The company’s comparable EBITDA at the beginning of the year was 662 million euros, exceeding analysts’ average expectation of 549 million euros. However, this figure was lower than the 781 million euros recorded in the comparison period a year ago.
Fortum’s CEO Markus Rauramo attributed this decline in earnings to factors such as the drop in gas and electricity prices in Europe. However, he also highlighted positive developments such as the start of arbitration proceedings against Russia to protect the company’s legal position and shareholder interests. Despite challenges in national economies and high inflation levels, Rauramo remains optimistic about Fortum’s future outlook. He believes that key investments will help strengthen its position in the energy market and capitalize on emerging opportunities. By strategically managing investments and adapting to market dynamics, Fortum aims to sustain its growth trajectory and deliver long-term value to shareholders.