Fortum Q4 and Full Year Report 2013

Fourth quarter burdened by warm weather and low hydro volumes – Dividend proposal EUR 1.10 per share for 2013

October−December 2013

• Comparable operating profit EUR 493 (591) million, -17%

• Operating profit EUR 574 (623) million, of which EUR 81 (32) million relates to items affecting comparability

• Earnings per share EUR 0.52 (0.68), -24%, of which EUR 0.07 (0.03) per share relates to items affecting comparability and EUR 0.09 (0.22) per share to the change in the Finnish corporate tax rate in 2013 and the Swedish Corporate tax rate in 2012

• Cash flow from operating activities totalled EUR 376 (399) million, -6%

• All-time low hydro production, 3.9 (7.1) TWh

• Very warm weather in all regions

• In Russia, Nyagan 2 was commissioned and an agreement was reached with the contractor regarding construction delays in favour of Fortum

• Assessment of electricity distribution business completed; Finnish networks divestment
  process started

January−December 2013

• Comparable operating profit EUR 1,607 (1,752) million, -8%

• Operating profit EUR 1,712 (1,874) million, of which EUR 105 (122) million relates to items affecting comparability

• Earnings per share EUR 1.36 (1.59), -14%, of which EUR 0.10 (0.14) per share relates to items affecting comparability and EUR 0.09 (0.22) per share to the Finnish Corporate tax rate change in 2013 and the Swedish Corporate tax rate in 2012, which had a positive impact

• Cash flow from operating activities totalled EUR 1,836 (1,382) million, +33%

• Half way through the efficiency programme

• Electricity production at the Inkoo coal-fired power plant in Finland to be discontinued

• Fortum's Board proposes a dividend of EUR 1.10 per share

For more information, click the link below
Fortum Q4-2013

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