PRESS RELEASE, 5 November 2013
Fortum will sell its 50 per cent stake in the Finnish district heating company
Riihimäen Kaukolämpö Oy to the City of Riihimäki (40 per cent) and to Riihimäen
Kaukolämpö Oy (10 per cent). Until now, Fortum and the City of Riihimäki have
each owned half of the company. The transaction is subject to a favourable
decision by the Riihimäki City Council.
For Fortum, the transaction is part of its efficiency programme launched in
October 2012. In its heat business, Fortum is focusing on combined heat and
power production and on distribution and sales of district heat in larger
centres and units. Fortum expects to finalise the divestment by the end of the
year 2013. The divestment has a minor impact on Fortum’s financial performance
and the gain will be booked in the Heat Division’s fourth-quarter 2013 results.
The total sales price is EUR 11 million.
Riihimäen Kaukolämpö Oy operates in the Riihimäki economic region, supplying
district heat and natural gas to its customers. The company’s sales in 2012
were about EUR 11 million and district heat sales about 190 GWh. The sourcing
of basic energy for district heat is primarily based on long-term agreements
made with companies operating in the region.
Jouni Haikarainen, Vice President, Fortum, Heat Division, Finland, tel. +358 40
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 2012, Fortum’s sales
totalled EUR 6.2 billion and comparable operating profit was EUR 1.7 billion.
We employ approximately 10,400 people. Fortum’s shares are quoted on NASDAQ OMX
Additional information: www.fortum.com