INTERIM REPORT 1 JANUARY - 30 SEPTEMBER 2000 - FORTUM FURTHER IMPROVING ITS PERFORMANCE, EARNIGS PER SHARE IMPROVED BY 30%

FORTUM CORPORATION INTERIM REPORT 1 JANUARY – 30 SEPTEMBER
2000
 
 
Nine months in brief
 

- Group net sales increased by 31% to EUR 7,732 million.
- Operating profit increased by 19% to EUR 623 million.
- Profit before extraordinary items increased by 13% to EUR 414 million.
- Earnings per share improved by 30% to EUR 0.39.
- The result of upstream oil was good due to the production growth and the high
prices of crude oil.
- The result of oil refining was healthy due to the company’s strong refining
margin.
- The low market price of electricity reduced the profit of power generation and
sales.
- Power generation capacity increased in the Nordic countries by 1,317 MW and
was 9,620 MW at the end of September.
- Following the merger of Länsivoima Oyj, the Finnish State ownership in Fortum
Corporation decreased to 69.96%.
- Operating profit for 2000 is estimated to be significantly higher than in the
previous year. Earnings per share are also estimated to improve from the
previous year.