Fortum beats expectations, shares climb By Investing.com
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 15 2024
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Source: Investing.com
Earnings Performance: Fortum's shares rose 2.3% after reporting EBIT of €763 million for H1 2024, exceeding market expectations and showing a notable increase in the Customer Solutions segment.
Hedging and Future Outlook: The company updated its hedging positions for 2024 and 2025, with 75% hedged at €43/MWh and 60% at €42/MWh respectively, while also announcing an increase in property tax in Sweden starting from 2025.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
