PRESS RELEASE 21 September 2012
Fortum has agreed to sell its 18.7% ownership of the Swedish electricity
supplier Dala Kraft AB to energy company Jämtkraft AB. The transaction will
take effect on 21 September 2012. The effect of the divestment on Fortum's
financial result is very minor. The sales gain from the transaction will be
booked in Fortum's Electricity Solutions and Distribution Division's 2012
third-quarter financial result. The divestment is in accordance with Fortum's
ambition to focus on its own consumer brand.
”Fortum sells electricity to approximately 1.2 million private customers in
Sweden, Finland and Norway. We want to focus our efforts on our own customers
as well as on developing products and services for them,” says Matti Saario,
Vice President, Electricity Sales and Marketing at Fortum.
Dala Kraft AB was established in 1996 by a few local energy companies in
Dalarna: Envikens Elkraft Ekonomisk förening, Dala Energi AB, Malungs Elverk AB
and Ryssa Elverk AB. Since then, Smedjebacken Energi AB, Hedemora Energi AB and
Falu Energi & Vatten AB have joined in as owners. An 18.7% shareholding was
transferred to Fortum in 2002 in connection with the acquisition of Ryssa
Elverk AB. Currently, Dala Kraft AB has about 60 employees and its sales in
2011 were EUR 217 million (1 875 MSEK).
Additional information: Matti Saario (Finland), tel. +358 400 405 344
Fortum's purpose is to create energy that improves life for present and future
generations. We provide sustainable solutions that fulfil the needs for low
emissions, resource efficiency and energy security, and deliver excellent value
to our shareholders. Our activities cover the generation, distribution and
sales of electricity and heat as well as related expert services.
Fortum's operations focus on the Nordic countries, Russia, Poland and the
Baltics. In the future, the integrating European and fast-growing Asian energy
markets provide additional growth opportunities. In 2011, Fortum’s sales
totalled EUR 6.2 billion and comparable operating profit was EUR 1.8 billion.
We employ approximately 10,800 people. Fortum’s shares are quoted on NASDAQ OMX
Further information: www.fortum.com