Men indtjeningen fejler ikke noget.
Fortum's President and CEO Tapio Kuula, in connection with the second quarter
2011:
"Our second quarter 2011 results realised according to our expectations and our
financial position remained strong. Both sales and comparable operating profit
increased year-on-year. The Nordic power consumption decreased slightly, while
the overall Russian power demand was slightly up in the second quarter of 2011
compared to the same period in 2010. The world-wide economic situation and
energy policy sentiment in Europe has created uncertainty in the market.
In light of Japan's Fukushima accident, it is understandable that the
heightened concern all over the world about the nuclear safety has implications
on nuclear power investments and their timing. For Fortum it is very important
that nuclear power has wide political and social acceptance. Safety reviews of
nuclear power plants and an open dialogue about the risks are necessary in
order to restore public confidence towards the industry.
In May, Germany announced plans to abandon nuclear energy by 2022, outlining a
reversal of its previous policy. The decision was made in the wake of the
Fukushima disaster aiming to replace nuclear power with renewable energy
sources. Phasing out nuclear power within a decade will be a challenge and may
affect the industry across Europe.
In June, the new Finnish Government announced its programme. The new policy
framework for the coming four-year period states that the Government will not
make any new decisions-in-principle on nuclear power. Furthermore, the
Government proposes to investigate a possible implementation of a windfall tax
and a uranium tax. The Government will also review support schemes for
renewable energy.
We must, however, not forget that climate change is - and will remain - a
serious global challenge in need of solutions. Curbing emissions and the
scarcity of natural resources are weighed against the increase in energy
consumption that is driven by population and economic growth. Energy efficiency
must be increased when bringing electricity and modern energy systems to a
growing number of people. On the other hand, the need to improve energy
efficiency emphasises the role of electricity and offers business opportunities
for Fortum. As investments in power and heat generation are highly capital
intensive, Fortum stresses the importance of a predictable and consistent
energy policy and operating environment.
Supported by our strategy, we are preparing for growth. Maintaining a strong
balance sheet that enables us to tap into attractive growth opportunities also
in the long run is a priority for us. A central part of our core competence is
emissions-free hydropower production, which has an important role in our
strategy also in the future. It is also needed to balance production and
consumption as electricity is gradually produced more with, for example, wind
and solar energy.
In addition to hydro- and nuclear power, our strategy builds on our deep
expertise in combined heat and power (CHP) production with a flexible fuel mix.
CHP-based district heating, cooling and smart grid solutions support the
development of sustainable and modern urban living. In the future, we will
continue to increase the utilisation of local biofuels and waste to reduce CO2
emissions and to improve resource efficiency.
Alongside our Nordic core business, our operations in Russia are continuously
growing. Russia is the fastest growing national economy in Fortum's current
market areas, and Fortum has committed to a sizeable investment programme in
the country. The building of new units in Russia is based on energy-efficient
technologies that save fuel and offer clear environmental benefits. We have
already inaugurated two new units in Russia and are currently finalising the
third unit. The two new units already contributed positively to the results.
Commissioning of new units decreases Fortum's risk for penalties caused by
possible delays' and thus we did a reversal of the provision, allocated to
these two units, made at the time of the acquisition.
Financial results
April - June
In April - June, Group sales were EUR 1,316 (1,295) million. Group operating
profit totalled EUR 609 (351) million. Fortum's operating profit for the second
quarter 2011 was affected by a EUR 76
(-15) million IFRS accounting treatment (IAS 39) of derivatives mainly used for
hedging Fortum's power production. The comparable operating profit, which was
not impacted by the accounting treatment, totalled EUR 348 (339) million.
The total of non-recurring items, mark-to-market effects and nuclear fund
adjustments in the second quarter of 2011 amounted to EUR 261 (12) million. Of
this total, EUR 192 million relates to the sales gain of the divestment of
shares in Fingrid Oyj.
The share of profits from associates in the second quarter was EUR 15 (15)
million, of which Hafslund ASA represented EUR -11 (12) million and TGC-1 EUR
30 (9) million. Share of profits from TGC-1 is based on the company's published
IFRS first quarter interim report. The share of profits from Hafslund is based
on the company's first quarter interim report including a write-down of
Hafslund shareholding in Renewable Corporation (REC) amounting to EUR 20
million based on the REC share price as of 30 June 2011 (see also Note14). The
effect of Hafslund's second quarter excluding REC is not included in Fortum's
second quarter results since the share of profits is based on the previous
quarter information.
Fortum's President and CEO Tapio Kuula, in connection with the second quarter
2011:
"Our second quarter 2011 results realised according to our expectations and our
financial position remained strong. Both sales and comparable operating profit
increased year-on-year. The Nordic power consumption decreased slightly, while
the overall Russian power demand was slightly up in the second quarter of 2011
compared to the same period in 2010. The world-wide economic situation and
energy policy sentiment in Europe has created uncertainty in the market.
In light of Japan's Fukushima accident, it is understandable that the
heightened concern all over the world about the nuclear safety has implications
on nuclear power investments and their timing. For Fortum it is very important
that nuclear power has wide political and social acceptance. Safety reviews of
nuclear power plants and an open dialogue about the risks are necessary in
order to restore public confidence towards the industry.
In May, Germany announced plans to abandon nuclear energy by 2022, outlining a
reversal of its previous policy. The decision was made in the wake of the
Fukushima disaster aiming to replace nuclear power with renewable energy
sources. Phasing out nuclear power within a decade will be a challenge and may
affect the industry across Europe.
In June, the new Finnish Government announced its programme. The new policy
framework for the coming four-year period states that the Government will not
make any new decisions-in-principle on nuclear power. Furthermore, the
Government proposes to investigate a possible implementation of a windfall tax
and a uranium tax. The Government will also review support schemes for
renewable energy.
We must, however, not forget that climate change is - and will remain - a
serious global challenge in need of solutions. Curbing emissions and the
scarcity of natural resources are weighed against the increase in energy
consumption that is driven by population and economic growth. Energy efficiency
must be increased when bringing electricity and modern energy systems to a
growing number of people. On the other hand, the need to improve energy
efficiency emphasises the role of electricity and offers business opportunities
for Fortum. As investments in power and heat generation are highly capital
intensive, Fortum stresses the importance of a predictable and consistent
energy policy and operating environment.
Supported by our strategy, we are preparing for growth. Maintaining a strong
balance sheet that enables us to tap into attractive growth opportunities also
in the long run is a priority for us. A central part of our core competence is
emissions-free hydropower production, which has an important role in our
strategy also in the future. It is also needed to balance production and
consumption as electricity is gradually produced more with, for example, wind
and solar energy.
In addition to hydro- and nuclear power, our strategy builds on our deep
expertise in combined heat and power (CHP) production with a flexible fuel mix.
CHP-based district heating, cooling and smart grid solutions support the
development of sustainable and modern urban living. In the future, we will
continue to increase the utilisation of local biofuels and waste to reduce CO2
emissions and to improve resource efficiency.
Alongside our Nordic core business, our operations in Russia are continuously
growing. Russia is the fastest growing national economy in Fortum's current
market areas, and Fortum has committed to a sizeable investment programme in
the country. The building of new units in Russia is based on energy-efficient
technologies that save fuel and offer clear environmental benefits. We have
already inaugurated two new units in Russia and are currently finalising the
third unit. The two new units already contributed positively to the results.
Commissioning of new units decreases Fortum's risk for penalties caused by
possible delays' and thus we did a reversal of the provision, allocated to
these two units, made at the time of the acquisition.
Financial results
April - June
In April - June, Group sales were EUR 1,316 (1,295) million. Group operating
profit totalled EUR 609 (351) million. Fortum's operating profit for the second
quarter 2011 was affected by a EUR 76
(-15) million IFRS accounting treatment (IAS 39) of derivatives mainly used for
hedging Fortum's power production. The comparable operating profit, which was
not impacted by the accounting treatment, totalled EUR 348 (339) million.
The total of non-recurring items, mark-to-market effects and nuclear fund
adjustments in the second quarter of 2011 amounted to EUR 261 (12) million. Of
this total, EUR 192 million relates to the sales gain of the divestment of
shares in Fingrid Oyj.
The share of profits from associates in the second quarter was EUR 15 (15)
million, of which Hafslund ASA represented EUR -11 (12) million and TGC-1 EUR
30 (9) million. Share of profits from TGC-1 is based on the company's published
IFRS first quarter interim report. The share of profits from Hafslund is based
on the company's first quarter interim report including a write-down of
Hafslund shareholding in Renewable Corporation (REC) amounting to EUR 20
million based on the REC share price as of 30 June 2011 (see also Note14). The
effect of Hafslund's second quarter excluding REC is not included in Fortum's
second quarter results since the share of profits is based on the previous
quarter information.
19/7 2011 20:53 TeamGarlic 0
44171 Jeg priser mig lykkelig for et salg - ikke helt nær toppen - men dog ganske tæt på 
Den finske regerings forslag om windfall tax skal hovedsageligt betales af Fortum og vi snakker 100 Mio. EUR, så det er en ret stor slat penge.
http://www.reuters.com/article/2011/06/17/markets-europe-stocksnews-idUKLDE75G0G920110617
Den finske regerings forslag om windfall tax skal hovedsageligt betales af Fortum og vi snakker 100 Mio. EUR, så det er en ret stor slat penge.
http://www.reuters.com/article/2011/06/17/markets-europe-stocksnews-idUKLDE75G0G920110617
