Fortum has agreed to sell its 18.7% ownership of the Swedish electricity supplier Dala Kraft AB to energy company Jämtkraft AB. The transaction will take effect on 21 September 2012. The effect of the divestment on Fortum's financial result is very minor. The sales gain from the transaction will be booked in Fortum's Electricity Solutions and Distribution Division's 2012 third-quarter financial result. The divestment is in accordance with Fortum's ambition to focus on its own consumer brand.
”Fortum sells electricity to approximately 1.2 million private customers in Sweden, Finland and Norway. We want to focus our efforts on our own customers as well as on developing products and services for them,” says Matti Saario, Vice President, Electricity Sales and Marketing at Fortum.
Dala Kraft AB was established in 1996 by a few local energy companies in Dalarna: Envikens Elkraft Ekonomisk förening, Dala Energi AB, Malungs Elverk AB and Ryssa Elverk AB. Since then, Smedjebacken Energi AB, Hedemora Energi AB and Falu Energi & Vatten AB have joined in as owners. An 18.7% shareholding was transferred to Fortum in 2002 in connection with the acquisition of Ryssa Elverk AB. Currently, Dala Kraft AB has about 60 employees and its sales in 2011 were EUR 217 million (1 875 MSEK).
Fortum Corporation
Corporate Communications
Additional information: Matti Saario (Finland), tel. +358 400 405 344
Fortum
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