FORTUM CORPORATION INVESTOR NEWS 5 February 2016 at 16.45 EET
Fortum optimises its asset portfolio and has sold its 100% shareholding in its
Russian subsidiary OOO Tobolsk CHP to SIBUR, Russia's largest integrated gas
processing and petrochemicals company. OOO Tobolsk CHP owns and operates the
combined heat and power (CHP) plant in the city of Tobolsk in Western Siberia.
Fortum estimates to book a one-time pre-tax sales gain totalling approximately
EUR 30 million (currently corresponding to approximately EUR 0.03 per share) in
its first quarter 2016 results.
The Tobolsk CHP plant was built in the 1980's to serve the local petrochemical
industry. Today it supplies power to the electricity wholesale market and
process steam to SIBUR's Tobolsk Neftekhim petrochemical plant. The plant also
supplies heat to the 100,000 residents of Tobolsk. The CHP plant's production
capacity is 665 megawatts (MW) electricity and 2,585 MW heat.
"With this transaction, we are reducing our presence in the regulated heat
business. SIBUR will have an efficient and recently modernised plant with good
synergetic effect on the process steam supply. Therefore, both parties were
motivated to conclude this transaction, which has a clear win-win effect," says
Alexander Chuvaev, Executive Vice President for Fortum's Russia Division.
Helena Aatinen, Senior Vice President, Communications, Fortum, tel. +358 10
Denis Litoshik, Director, Corporate Communications and Public Relations,
Russia Division, tel. +7 (985) 383-52-61
Investors and analysts:
Sophie Jolly, Vice President, Investor Relations, tel. +358 10 45 32552
NASDAQ OMX Helsinki
SIBUR is Russia’s largest integrated gas processing and petrochemicals company.
Its plants are located primarily in Western Siberia, Russia's largest oil and
gas producing region. In the end of 2014, SIBUR operated 26 production sites
and had over 25,000 employees. Its revenue in 2014 was RR 361 billion. The
company serves customers in the energy, automotive, construction, fast moving
consumer goods (FMCG), chemical, and other industries in approximately 70
Fortum's vision is to be the forerunner in clean energy. We provide our
customers with electricity, heat and cooling as well as other energy solutions
that improve present and future life. Already 64% of our electricity generation
is CO2 free. Our main markets are the Nordic and the Baltic countries, Russia,
Poland and India. In 2015, we employed some 8,000 energy sector professionals,
and our sales were EUR 3.5 billion. Fortum's share is listed on Nasdaq
Fortum in Russia