Fortum Corporation Interim Report 1 January – 30 June 2002

FORTUM’S STRATEGIC AGENDA PROGRESSING WELL, RESULTS IMPROVING
 
 
 
The first half-year in brief
 
 
 
- Major increase in profits, 32% rise in earnings per share.
- Strong cash flow from operations and conclusion of several major
  divestments.
- EUR 929 million reduction in net debt during the second quarter.
- Good progress made in Birka Energi transformation process 
  - the new pan-Nordic organisation to become effective on 1 July.
- Low international refining margins, low market price for
  electricity.
- Finnish State ownership decreased to 60.8%, free float
  increased.