“Finland will need a lot of investments in the near future in new, emis-sions-free electricity and heat production. With hundreds of millions of investments at stake, energy industry players must be able to trust that also in the future Finland will have a predictable and consistent long-term energy policy that is in line with jointly set goals,” said Chairman of the Board Sari Baldauf in her opening remarks at Fortum’s Annual General Meeting today, 11 April 2012, in Helsinki.
“Burdening carbon dioxide-free domestic energy production with taxation doesn’t support Finland’s energy and climate policy goals. Investors see taxation that is presumptive and thus unpredetermined in criteria as a factor that increases country risk and can hurt Finland as a potential investment target."
Baldauf also noted in her opening speech that Fortum’s operations have big economic significance for Finland.
“For 2010, the State owner received nearly half a billion euros in dividends and other Finnish shareholders received close to 200 million euros. When we take into account the taxes paid by the company, Fortum creates approxi-mately one billion euros of direct monetary flow to Finnish society.”
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 2011, Fortum’s sales totalled EUR 6.2 billion and comparable operating profit was EUR 1.8 billion. We employ approximately 10,800 people. Fortum’s shares are quoted on NASDAQ OMX Helsinki.
Further information: www.fortum.com