Fortum Oyj Corp Ord (FOJCF) Q1 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.078 the 2025 Interim Report. My name is Ingele Ulves and 00:00:05.078 -- 00:00:10.685 I'm heading the IR at Fortu. As always, this event is being recorded 00:00:10.685 -- 00:00:15.892 and a replay will be available later today on our website. 00:00:15.892 -- 00:00:20.999 Our CEO, Markus Rauramo, and our CFO, Tina Tuomela, will present the group 00:00:20.999 -- 00:00:26.023 financial and operational performance during the... 00:00:28.820 -- 00:00:33.787 We will then again open up for questions in our Q&A session. 00:00:33.787 -- 00:00:37.569 Happy to hand over to Markus to start. 00:00:43.780 -- 00:00:49.908 To the key elements of our highlights, financial performance and market fundamentals. 00:00:49.908 -- 00:00:54.414 After that, Tina will provide more details, especially on the financials and how this 00:00:54.414 -- 00:00:56.958 turned into our results. 00:00:56.958 -- 00:00:59.959 Let me now start with the highlights. 00:01:00.460 -- 00:01:05.286 Despite the lower Nordic spot prices, we were able to reach a very good achieved power 00:01:05.286 -- 00:01:09.151 price of 60.1 euros per megawatt hour. 00:01:09.151 -- 00:01:14.397 Our achieved power price was supported by a robust double-digit optimization premium 00:01:14.397 -- 00:01:16.980 above last year's level. 00:01:16.980 -- 00:01:22.107 Due to increased power price volatility on the Nordic market, we also update our annual 00:01:22.107 -- 00:01:27.273 optimization premium to 7 to 9 euros per megawatt hour for 00:01:27.273 -- 00:01:29.570 the year 2025. 00:01:29.570 -- 00:01:35.716 For the following years, we keep the level at six to eight euros per megawatt hour. 00:01:35.716 -- 00:01:40.020 The optimization premium mainly consists of the physical optimization of our hydropow...