Personel at Tyumen

Russia Segment

The Russia Segment consists of power and heat generation as well as distribution in Russia. The segment also includes Fortum’s 29,5% holding in TGC-1, which is correspondingly accounted for as associated company using the equity method.
Fortum has reorganised its business structure as of 1 April 2016. The information in the table below is dated 31 December 2015. Read more on the reorganisation:
Fortum to reorganise its business structure as of 1 April 2016 (Stock exchange release 19 Feb 2016)

​Russia Segment ​
​Geographic presence, production and distribution assets and/or customer base ​Russia
* Eight CHP plants
* One condensing power plant
* Several heat boilers
* ~500 km networks as well as heat supply to two million residents
TGC-1 owns and operates hydro and thermal power plants in north-western Russia as well as heat distribution networks in St. Petersburg
Market position ​* Sizable power and heat utility in Western Siberia and the Urals in Russia
Production capacity ​Power 4,235 MW
Heat 10,111 MW
Volumes ​* Electricity sales 29.4 TWh
* Heat sales 25.4 TWh
Sales ​EUR 893 million
Share of Fortum's sales ​26%
Comparable operating profit ​EUR 201 million
Comparable EBITDA ​EUR 267 million
Net assets ​EUR 2,561 million
Comparable return on net assets ​8.2%
Capital expenditures and gross investments in shares ​EUR 285 million
Employees ​4,126
Business and result drivers ​* Investment programme: earnings growth through new capacity and new volume
* Guaranteed payments for the generation capacity built after 2007 under the Russian Government's capacity supply agreements
* Production mainly CHP: Power supply-demand balance as well as price level and volatility in the Urals/Western Siberia
* Plant availability, production optimisation and efficiency upgrades
* Fuel prices and availability as well as gas and electricity price ratio
* Development of heat market in the long term as well as heat demand and tariffs in the short term
* Maintenance and asset lifetime management practices and costs
Strategy drivers ​* Liberalised and privatised power and heat market
* Economic development
* Boosting efficiency of existing operations and bringing the ongoing investment programme to completion
* Potential for improved operations on the basis of current assets modernisation
 (On 31 December 2015)