Credit facilities and rating

Fortum's business is capital intensive and the Group has a regular need to raise financing. Fortum has a diversified loan portfolio mainly consisting of long-term financing in EUR and SEK currencies. Long-term financing is primarily raised by issuing bonds under Fortum’s Euro Medium Term Note programme as well as through bilateral and syndicated loan facilities from a variety of different financial institutions. Financing is primarily raised on parent company level and distributed internally through various internal financing arrangements.

Key ratios 2018-2023

EUR million or as indicated

2023

20222021202020192018
Capital employed

14,408

15,52230,88526,23919,92918,170
Interest bearing net-debt

N/A

N/AN/AN/A5,2605,509
Financial net debt

942

1,0847897,0234,833 
Net cash from operating activities, total Fortum

1,819

-8,7674,9702,5551,575804
ROCE, %

N/A

N/AN/AN/A10.06.7
Interest coverage

-16.8

-75.5-12.727.38.010.0
Interest coverage including capitalised borrowing costs

-19.7

-72.2-9.418.67.59.2
Funds from operations/interest-bearing net debt, %

N/A

N/AN/AN/A32.226.8
Financial net debt/comparable EBITDA, continuing operations excl. Russia

0.5

0.6N/A   
Gearing, %

11

146454046
Comparable net debt/EBITDA

N/A

N/AN/AN/A3.03.6