FORTUM CORPORATION STOCK EXCHANGE RELEASE 7 OCTOBER 2014
As announced earlier, Fortum is currently evaluating possibilities to divest
its electricity distribution business in Sweden. Process continues according to
plan and Fortum is starting the evaluation of the interest on the market.
Fortum has not made any decisions on the business' future or the schedule of
Fortum originally announced the completion of the strategic assessment of its
electricity distribution business in December 2013. The sale of the Finnish
business was announced at the same time. The sale of the Norwegian business was
announced in April 2014.
Senior Vice President, Corporate Communications
Background information for news desks:
Fortum owns and operates electricity distribution and regional networks and
distributes electricity to a total of 903,000 customers in Sweden. The Swedish
Distribution’s comparable operating profit was EUR 239 million on last 12
months basis at the end of the second quarter 2014. This was approximately 18%
of Fortum's total comparable operating profit. The Swedish Distribution’s net
assets at the end of the second quarter 2014 totalled EUR 2,642 million. The
business employs approximately 380 persons.
Fortum’s purpose is to create energy that improves life for present and future
generations. Catering to the versatile needs of our customers, we generate,
distribute and sell electricity and heat, and offer related expert services.
Our operations focus on the Nordic and Baltic countries, Russia and Poland. In
2013, Fortum’s sales totalled EUR 6.1 billion and comparable operating profit
was EUR 1.6 billion. We employ approximately 8,800 people. Fortum’s shares are
traded on the NASDAQ OMX Helsinki. www.fortum.com