Fortum: Lower generation volumes and market prices impact financial results
Fortum Oyj reported a decline in its January-June 2025 financial results compared to the previous year, despite a strong achieved power price. The decrease was attributed to lower generation volumes and energy market prices.
Fortum Oyj has reported its financial results for the first half of 2025, which showed a significant decrease compared to the same period in the previous year. While the company's achieved power price remained strong, the results were negatively impacted by lower generation volumes and a general decrease in energy market prices.
For the second quarter, comparable operating profit stood at EUR 115 million, down from EUR 233 million in the prior year. For the January-June period, comparable operating profit fell to EUR 577 million from EUR 763 million. The company cited lower electricity generation volumes, particularly in hydro and nuclear power, and declining market prices as the primary reasons for the reduced profitability.
Fortum has updated its full-year 2025 total generation volume forecast, now expecting them to be clearly below normal levels. The company anticipates a decrease in nuclear power generation volumes by 2.9 TWh for the full year and a hydro power output below its normal annual level.
Despite the group's overall financial performance decline, Fortum's Consumer Solutions segment achieved its strongest second-quarter comparable operating profit. This was driven by improved gas and electricity margins and successful cost synergy initiatives. The company also expanded its operations in Poland through the acquisition of the electricity solutions provider Orange Energia.