EUR million or as indicated | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
---|---|---|---|---|---|---|
Capital employed | 14,408 | 15,522 | 30,885 | 26,239 | 19,929 | 18,170 |
Interest bearing net-debt | N/A | N/A | N/A | N/A | 5,260 | 5,509 |
Financial net debt | 942 | 1,084 | 789 | 7,023 | 4,833 | |
Net cash from operating activities, total Fortum | 1,819 | -8,767 | 4,970 | 2,555 | 1,575 | 804 |
ROCE, % | N/A | N/A | N/A | N/A | 10.0 | 6.7 |
Interest coverage | -16.8 | -75.5 | -12.7 | 27.3 | 8.0 | 10.0 |
Interest coverage including capitalised borrowing costs | -19.7 | -72.2 | -9.4 | 18.6 | 7.5 | 9.2 |
Funds from operations/interest-bearing net debt, % | N/A | N/A | N/A | N/A | 32.2 | 26.8 |
Financial net debt/comparable EBITDA, continuing operations excl. Russia | 0.5 | 0.6 | N/A | |||
Gearing, % | 11 | 14 | 6 | 45 | 40 | 46 |
Comparable net debt/EBITDA | N/A | N/A | N/A | N/A | 3.0 | 3.6 |
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.
Fortum established a Green Finance Framework in January 2024 to further integrate the company’s sustainability ambitions into its financing.
Fortum established a Green Finance Framework in January 2024 to further integrate the company’s sustainability ambitions into its financing.