Fortum started the efficiency programme in 2012 in order to maintain and strengthen its strategic flexibility and competitiveness and to enable the company to reach its financial targets in the future.
The efficiency programme was successfully finished during the fourth quarter of 2014.
- Total annual cost savings visible in all divisions
- Improved working capital efficiency
- Divestments of non-core assets totalling approximately EUR 800 million
The aim was to improve the company’s cash flow by more than approximately EUR 1 billion during 2013–2014 by reducing capital expenditures (capex) by EUR 250–350 million, divesting approximately EUR 500 million of non-core assets, reducing fixed costs and focusing on working capital efficiency.