Det kedelige energiselskab slår til igen. Med EPS på 2 og dividende på 1 Euro har vi nu en Yield på 8% og en price earning på 7-8.
Its good to be in energi infrastruktur.
Its good to be in energi infrastruktur.
I får lige selskabets kommentarer, som altid er godt at lytte til:
Year 2011 was exceptional in many respects. The earthquake followed by a tsunami in Japan, the
ongoing financial crisis in Europe and the unstable situation in the Middle East, all have had
implications to the energy sector, which is becoming more and more exposed to global phenomena.
The underlying fundamentals for energy demand and the strengthening role of electricity have not
changed - the mitigation of climate change is and will stay as one of the biggest global challenges.
Fortum therefore highlights the role of CO2-free electricity in moving towards a Solar Economy. The
company also strives for balanced management of economic, social and environmental
responsibility. In the area of economic responsibility, the aim is to create long-term economic Value,
enable sustainable profitable growth, generate added Value for shareholders and customers, while
at the same time ensuring a safe working environment for all employees and contractors at Fortum
sites.
During the fourth quarter, electricity demand decreased in the Nordic countries, but increased
somewhat in Russia compared to the same period in 2010. Overall, operating profit and cash flow
were good.
The storm on 26 December, the strongest in 30 years in Finland, and the smaller storm on the
following day caused major damage to Fortum's electricity distribution grid mainly in southern,
western and south-western Finland. We regret that, at the worst point, more than 190,000 Fortum
customers in Finland were simultaneously without electricity. In addition to Finland, the storms
caused some power outages and damage also in Sweden. A key priority as a part of customer
service for the Distribution business area is to increase security of supply in extreme weather
conditions, especially by underground cabling the electricity grid as well as maintaining the existing
grid.
During 2011, Fortum succeeded in achieving operational enhancements and the company continued
with investments in order to support its long-term goals. Some highlights of the year in the different
divisions were the following.
In the Power Division, preparation for the tender process for hydropower concessions in France
started. We continued to invest in the development of wave and solar power. In addition, focus was
on safety and nuclear-related R&D projects. Post Fukushima, the Finnish nuclear safety authority
(STUK) carried out an additional evaluation of nuclear power plant safety in cases of power loss,
exceptional weather and environmental conditions. The safety assessments made in Finland
showed that Loviisa and Olkiluoto nuclear power plants are safe and, in particular, Loviisa's safety
margin is sufficient. The Swedish nuclear safety authority (SSM) carried out corresponding safety
evaluations in Sweden. The outcome of the evaluations in Sweden was in line with the assessments
made in Finland.
The Heat Division inaugurated a new biomass-fired CHP (combined heat and power) plant in Pärnu
in Estonia. Several new CHP plants are under construction in the Baltic region, Finland and Sweden,
e.g. Klaipeda, Jelgava, Järvenpää, Brista 2. In addition, two companies were acquired in Poland and
new pricing solutions to customers were launched in Finland and Sweden. Fortum also finalised the
divestment of its district heat operations and heat production facilities outside the Stockholm area in
Sweden.
In the Russia Division, where new capacity will be the key driver for positive economic added Value,
the ongoing investment programme continued to proceed well. A new unit at Chelyabinsk, as well as
two new units in Tyumen and Tobolsk, were commissioned. Construction of the Nyagan power plant
continued, and the Ring project to increase energy efficiency in Chelyabinsk, was started.
In the Electricity Solutions and Distribution Division, the rollout of smart metering to the network
customers in Finland started, and in Sweden Fortum's grids were opened to enable customers to
sell their own produced electricity.
I feel confident that Fortum is well prepared going into 2012, and I would like to thank all employees
for their efforts and commitment during 2011.
Year 2011 was exceptional in many respects. The earthquake followed by a tsunami in Japan, the
ongoing financial crisis in Europe and the unstable situation in the Middle East, all have had
implications to the energy sector, which is becoming more and more exposed to global phenomena.
The underlying fundamentals for energy demand and the strengthening role of electricity have not
changed - the mitigation of climate change is and will stay as one of the biggest global challenges.
Fortum therefore highlights the role of CO2-free electricity in moving towards a Solar Economy. The
company also strives for balanced management of economic, social and environmental
responsibility. In the area of economic responsibility, the aim is to create long-term economic Value,
enable sustainable profitable growth, generate added Value for shareholders and customers, while
at the same time ensuring a safe working environment for all employees and contractors at Fortum
sites.
During the fourth quarter, electricity demand decreased in the Nordic countries, but increased
somewhat in Russia compared to the same period in 2010. Overall, operating profit and cash flow
were good.
The storm on 26 December, the strongest in 30 years in Finland, and the smaller storm on the
following day caused major damage to Fortum's electricity distribution grid mainly in southern,
western and south-western Finland. We regret that, at the worst point, more than 190,000 Fortum
customers in Finland were simultaneously without electricity. In addition to Finland, the storms
caused some power outages and damage also in Sweden. A key priority as a part of customer
service for the Distribution business area is to increase security of supply in extreme weather
conditions, especially by underground cabling the electricity grid as well as maintaining the existing
grid.
During 2011, Fortum succeeded in achieving operational enhancements and the company continued
with investments in order to support its long-term goals. Some highlights of the year in the different
divisions were the following.
In the Power Division, preparation for the tender process for hydropower concessions in France
started. We continued to invest in the development of wave and solar power. In addition, focus was
on safety and nuclear-related R&D projects. Post Fukushima, the Finnish nuclear safety authority
(STUK) carried out an additional evaluation of nuclear power plant safety in cases of power loss,
exceptional weather and environmental conditions. The safety assessments made in Finland
showed that Loviisa and Olkiluoto nuclear power plants are safe and, in particular, Loviisa's safety
margin is sufficient. The Swedish nuclear safety authority (SSM) carried out corresponding safety
evaluations in Sweden. The outcome of the evaluations in Sweden was in line with the assessments
made in Finland.
The Heat Division inaugurated a new biomass-fired CHP (combined heat and power) plant in Pärnu
in Estonia. Several new CHP plants are under construction in the Baltic region, Finland and Sweden,
e.g. Klaipeda, Jelgava, Järvenpää, Brista 2. In addition, two companies were acquired in Poland and
new pricing solutions to customers were launched in Finland and Sweden. Fortum also finalised the
divestment of its district heat operations and heat production facilities outside the Stockholm area in
Sweden.
In the Russia Division, where new capacity will be the key driver for positive economic added Value,
the ongoing investment programme continued to proceed well. A new unit at Chelyabinsk, as well as
two new units in Tyumen and Tobolsk, were commissioned. Construction of the Nyagan power plant
continued, and the Ring project to increase energy efficiency in Chelyabinsk, was started.
In the Electricity Solutions and Distribution Division, the rollout of smart metering to the network
customers in Finland started, and in Sweden Fortum's grids were opened to enable customers to
sell their own produced electricity.
I feel confident that Fortum is well prepared going into 2012, and I would like to thank all employees
for their efforts and commitment during 2011.
1/2 2012 19:41 TeamGarlic 0
52426 Dejlig aktie som jeg tankede voldsomt op i sidste uge. Super-stabil forretning og flot udbytte. Aktien blev godt belønnet idag for det flotte regnskab. Glæder mig til at læse mere i regnskabet. Glad aktionær.
sent from iPhone
sent from iPhone
1/2 2012 23:02 TeamGarlic 152433 Har læst regnskabet igennem og jeg synes stadig godt om deres forretning. Sidste år havde man en god hånd med hedging af deres produktion, som gav 72 mio. EUR i stedet for -221 mio. EUR. Man har for 2012 og 2013 hedget på et nyt og højere niveau, hvilket lover godt for årene fremover. Omsætningen var i Q4 faldende med -235 mio. EUR, men alligevel formåede man at tjene 258 mio. EUR mere - det er klasse, men skyldes ikke den basale forretning.
Man forudser en stigning i energi-forbruget på 0,5% i årene fremover, men priserne ser ud til at stige ligesom man udvider forretningen.
Jeg forudser et længere bekendtskab med aktien, som jeg sidste år valgte at forlade i kurs 22,88 - og nu genkøbt med GAK i 16,61 - balladen med A-kraft har givet gode muligheder. Det er næsten Buffetsk
Man forudser en stigning i energi-forbruget på 0,5% i årene fremover, men priserne ser ud til at stige ligesom man udvider forretningen.
Jeg forudser et længere bekendtskab med aktien, som jeg sidste år valgte at forlade i kurs 22,88 - og nu genkøbt med GAK i 16,61 - balladen med A-kraft har givet gode muligheder. Det er næsten Buffetsk
