Q3 2025 Fortum Oyj Earnings Call Transcript
Key Points
- Fortum Oyj (FOJCF) achieved a higher power price in Q3 2025 compared to the previous year, supported by higher spot prices and strong physical optimization.
- The company announced the acquisition of a 4.4-gigawatt wind power project development portfolio in Finland, strengthening its renewables pipeline.
- Fortum Oyj (FOJCF) is on track to reduce its annual fixed costs by EUR100 million by the end of 2025, with the full run rate effective from 2026.
- The Consumer Solutions segment achieved a record high third-quarter result, driven by improved electricity margins in the Nordics and cash margins in Poland.
- Fortum Oyj (FOJCF) updated its optimization premium estimate for 2025 to approximately EUR10 per megawatt hour, up from the previous forecast of EUR7 to EUR9, due to higher power price volatility.
- Both nuclear and hydro volumes were below normal levels in Q3 2025, impacting generation volumes and financial performance.
- Comparable operating profit and EPS decreased in Q3 2025, reflecting lower generation volumes and higher property taxes in Sweden.
- The Pjelax wind farm contributed negatively to results due to lower power prices, highlighting challenges in capturing market prices during high wind periods.
- Hydro volumes for the last 12 months were below normal levels, with a significant shortfall in Q2 2025 due to lower inflows.
- The company's financial KPIs decreased across all periods, reflecting the impact of lower generation volumes and higher costs.
Good morning, everyone. A warm welcome again to Fortum's joint webcast and news conference for the investor community and media on our January-September interim report. My name is Ingela Ulfves, and I'm heading the IR team at Fortum. As always, this event is being recorded, and a replay will be available on the website later today. With me here in the studio are again, our CEO, Markus Rauramo; and our CFO, Tiina Tuomela.
Markus and Tiina will present the group's financial and operational performance during the third quarter and first nine months of this year. I would also like to remind you of the upcoming Investor Day for analysts, institutional investors and other capital market participants to be held on November 25. It is possible to attend both in person in Helsinki and also virtually online. The registration is open on our website until November 17.
As we do not want to preempt the content and discussions for the event, we aim to strictly focus on the Q3 performance and results in today's
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