Fortum Oyj · OMXHEX:FORTUM
Fortum Oyj — Investor Day (2025)
10 slides from Fortum Oyj's investor day presentation, 2025
Slide 1: Financial Targets: Promoting Long-Term Earnings Growth
FINANCIAL TARGETS: PROMOTING LONG-TERM EARNINGS GROWTH Tiina Tuomela CFO
Slide 2: Successful transformation – strong operational and financial platform for growth and value creation
Successful transformation – strong operational and financial platform for growth and value creation COMPLETED ONGOING Highly decarbonised Hydro value & generation fleet 99% optimisation 8-10 €/MWh* Efficiency improvements, Nuclear lifetime fixed costs 100 €mn extension 180 TWh Strong balance sheet D
Slide 3: Earnings improvement with own actions – Comparable operating profit of €330 million by 2030
Earnings improvement with own actions – Comparable operating profit of €330* million by 2030 Generation segment: • Generation availability, +/- € volumes • Heating & Cooling €30 • Improved performance in co-owned assets Millions €40 €330 Consumer Solutions segment: • Organic growth • Operational and
Slide 4: Capital allocation: Balance between investments and distribution aligns with shareholder expectations
Capital allocation: Balance between investments and distribution aligns with shareholder expectations and supports long-term growth CAPITAL EXPENDITURE 2026–2030 GROUP COMPARABLE RONA 14% Objective: sustain and grow business through Objective: efficient use of capital strategic investments • Drives
Slide 5: Balance sheet and Financial net debt - cash conversion almost 100%
Balance sheet and Financial net debt - cash conversion almost 100% Financial net debt to Comparable EBITDA Comparable EBITDA Max 2.5x - Net finance cost paid - Income taxes paid +/- Change in working capital - Capital expenditure - Dividend +/- Other 1x = Change in Financial net debt 5
Slide 6: Long-term hedging manages risks and secures predictable cash flows
Long-term hedging manages risks and secures predictable cash flows Hedging balances between market, credit and cash liquidity risks Fortum has a solid track record of successful hedging Realised quarterly prices since 2000 EUR/MWh 180 160 140 120 100 80 60 40 20 0 2000 2005 2010 2015 2020 2025 Liqui
Slide 7: Outlook on capital expenditure: 2026–2030
Outlook on capital expenditure: 2026–2030 Capex outlook 2026–2030 (€bn) Potential capex (non-committed), • Additional potential capex up to €2.5 bn potential areas • Renewables capex limited to projects with secured PPAs Renewables • Individual investment decisions will have to DH meet strategic fit
Slide 8: Fortum has continuously paid cash dividends since its listing
Fortum has continuously paid cash dividends since its listing Cash dividends of €21.7 bn since 1998 EUR/share % 1.60 2,400 1.40 2,100 1.20 1,800 1.00 1,500 Special dividend 0.80 1,200 Ordinary dividend 900 Total Shareholder Return, 0.60 dividends re-invested 0.40 600 0.20 300 0.00 0 1998 2000 2002 2
Slide 9: Fortum's guidance for P&L and cash flow items
Fortum’s guidance for P&L and cash flow items Condensed consolidated income statement Condensed consolidated cash flow statement EUR million Comparable EBITDA Sales Non-cash and other items Other income ‘EBITDA’ guidance: disclosed hedge Interest received ‘Finance costs, net’: guidance positions, ma
Slide 10: Summary of Fortum's financial targets – driving value creation
Summary of Fortum’s financial targets – driving value creation HEDGING COMPARABLE RONA-% LEVERAGE Rolling 10-year outright target: Long-term target for Group: 14% Financial net debt / Comparable >25% by the end of 2028 EBITDA: LTM in Q3 ’25 was 10.3% Current hedges: Maximum of 2.5 times 2025: 90% at