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Bulletin: Finnish Power Generator Fortum Delivers Solid 2020 Results Despite Challenging Operating Environment

Published Mar 12, 2021

3 pages (1743 words) — Published Mar 12, 2021

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Abstract:

PARIS (S&P Global Ratings) March 12, 2021--S&P Global Ratings today said that Finnish power generator Fortum Oyj (BBB/Negative/A-2) delivered solid results last year despite the record low power prices in the Nordic region. Fortum's 2020 performance supports its plans to strengthen its balance sheet. Although the group's credit metrics remain below the target for the current rating, in line with our current base case, Fortum is making good progress on its remedy plan (see "Finnish Power Generator Fortum Oyj 'BBB' Rating Affirmed," published Dec. 18, 2020, on RatingsDirect). Reported EBITDA increased to €2,434 million from €1,766 million in 2019. Uniper was consolidated as a subsidiary as of March 31, 2020, and represented €856 million of the total EBITDA. Fortum's reported

Report Type:

Bulletin

Ticker

FUM1V@FH

Issuer

Fortum Oyj

GICS

Electric Utilities (55101010)

Sector

Global Issuers

Country

Finland

Region

Europe, Middle East, Africa

Format:

PDF

Bulletin: Fortum's Management Changes At Uniper Show A Push To Accelerate Cooperation, With Debt Reduction Still Key – 2021/04/02 – Free

Research Update: Finnish Power Generator Fortum Oyj Outlook Revised To Stable On Progress With Disposals; 'BBB' Rating Affirmed – 2021/07/05 – US$ 225.00

Fortum Oyj – 2021/09/01 – US$ 500.00

Research Update: Finland-Based Power And Gas Company Fortum 'BBB/A-2' Ratings Affirmed; Outlook Stable – 2022/01/21 – US$ 225.00

Uniper Downgraded To 'BBB-' On Exposure To Russia, Fortum Affirmed At 'BBB'; Outlooks On Both Negative – 2022/05/16 – US$ 150.00

Research Update: Finnish Power Generator Fortum Oyj 'BBB' Rating Affirmed; Outlook Negative – 2020/12/18 – US$ 225.00

Fortum Oyj – 2020/11/09 – US$ 500.00

Research Update: Fortum Oyj 'BBB' Rating Affirmed On Russian Regulatory Approval; Outlook Negative As Material Uncertainties Remain – 2020/03/19 – US$ 225.00

Research Update: Fortum Oyj And Uniper SE Ratings On CreditWatch Negative Following Fortum's Purchase Of Additional Stake In Uniper – 2019/10/09 – US$ 225.00

Fortum Oyj – 2019/08/14 – US$ 500.00

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Bulletin: Finnish Power Generator Fortum Delivers Solid 2020 Results Despite Challenging Operating Environment" Mar 12, 2021. Alacra Store. May 12, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Finnish-Power-Generator-Fortum-Delivers-Solid-2020-Results-Despite-Challenging-Operating-Environment-2610324>

APA:	S&P Global Ratings’ Credit Research. (). Bulletin: Finnish Power Generator Fortum Delivers Solid 2020 Results Despite Challenging Operating Environment Mar 12, 2021. New York, NY: Alacra Store. Retrieved May 12, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Finnish-Power-Generator-Fortum-Delivers-Solid-2020-Results-Despite-Challenging-Operating-Environment-2610324>

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