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Fortum Annual Review 2023
Fortum's annual reporting entity in 2023 includes six publications: Financials (including the Financial Statements and Operating and Financial Review), CEO's Business Review, Governance, Remuneration, Tax Footprint and Sustainability. The publications are available as PDF files below.
Markus Rauramo, President and CEO:
During 2023, we successfully regained our financial strength, driven by solid earnings and cash flow. the Generation segment’s strong performance was the key earnings driver throughout the year. The segment benefitted from high power prices in the Nordics and good physical optimisation supported by high price volatility. In May, we successfully returned to the fixed income market by issuing two bonds. To finance future potential investments in clean energy, we prepared the Green Finance Framework, which was published in January 2024. Overall, after a period of unprecedented turbulence, 2023 was a year of stabilising and transforming our operations. In March, we announced our new strategy and purpose with a Nordic focus along with new financial and environmental targets.
Read more in the CEO's Business Review 2023
EUR 1,544 million
comparable operating profit
Renewed strategy
to drive clean energy transition
98%
of power generation was CO2-free
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