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2023-03-15 04:56:13 ET Summary Fortum is a major European utility that has been dragged through the mud in 2022 as a result of the Russian Invasion. Their biggest problem has been resolved as Germany nationalized Uniper, but with 20% of their assets in Russia, the valuation is sti...
2023-03-04 11:12:05 ET Fortum Oyj (FOJCF) Q4 2022 Earnings Conference Call March 02, 2023, 04:00 AM ET Company Participants Ingela Ulfves - Head of Investor Relations Markus Rauramo - Chief Executive Officer Bernhard Gunther - Chief Financial Officer Confer...
The following slide deck was published by Fortum Oyj in conjunction with their 2022 Q4 earnings call. For further details see: Fortum Oyj 2022 Q4 - Results - Earnings Call Presentation
Summary Fortum will take a P&L hit in FY23 from a proposed windfall tax from the Finnish government. While sizeable, the impact will only last for one year, so the valuation shouldn't suffer too greatly. With the Uniper exit also on track, Fortum stock could re-rate in the comin...
Fortum Oyj (FOJCF) Q3 2022 Earnings Conference Call November 10, 2022 04:00 AM ET Company Participants Ingela Ulfves - Head, Investor Relations Markus Rauramo - Chief Executive Officer Bernhard Günther - Chief Financial Officer Conference Call Particip...
The following slide deck was published by Fortum Oyj in conjunction with their 2022 Q3 earnings call. For further details see: Fortum Oyj 2022 Q3 - Results - Earnings Call Presentation
Summary Two decades of shareholder value creation destroyed in six months. Fortum CEO Mikael Lilius expanded to Russia in the early 2000s. Fortum CEO Pekka Lundmark put Fortum's excess capital to work in the late 2010s with the hostile takeover of Uniper. All of the Russia...
Summary Fortum implication on Uniper nationalization. The company signed a bridge financing with the Finnish government. The potential upside on hedge contracts might be cut due to the extra energy profit tax. We decide to remain neutral. Following our analysis of " Un...
Summary Gas spot price coupled with Nord Stream 1 closure forced Uniper to be nationalized. The German government is preventing collateral damages. Uniper's stock price collapsed. Over the last few months, we have closely followed the European gas evolution and its i...
Summary A potential gas price cap could be the short-term solution. Looking at Uniper transaction and the latest development. Too many risks to consider and no guidance provided by the company. A current no go. Here at the Lab, we extensively cover the European gas s...