FORTUM CORPORATION INVESTOR NEWS 29.11.2024 AT 13:35 EET
Fortum has today completed the divestment of its recycling and waste business to Summa Equity. The transaction was announced on 18 July 2024.
The total consideration from the divestment is approximately EUR 800 million on a debt- and cash-free basis. Fortum will record a tax-exempt capital gain of approximately EUR 180 million. The gain will be reported as Items Affecting Comparability in the Other Operations segment’s results in the fourth quarter of 2024. The net cash flow received from the transaction is approximately EUR 720 million.
The divestment of the recycling and waste business is part of Fortum’s strategic review of its Circular Solutions businesses. After the announced divestments of the recycling and waste business, the biobased solutions businesses and the turbine and generator services, Fortum continues the strategic review of its remaining Circular Solutions’ businesses: the battery recycling business and UK-based waste-to-energy business.
Fortum Corporation
Ingela Ulfves
Vice President, Investor Relations and Financial Communications
Further information:
Investors and analysts:
Ingela Ulfves, Vice President, Investor Relations and Financial Communications, tel. +358 40 515 1531
Rauno Tiihonen, Director, Investor Relations, tel. +358 10 453 6150
Siri Markula, Director, Investor Relations and Financial Communications, tel. +358 40 743 2177
Media:
Fortum News Desk, tel. +358 40 198 2843
Fortum
Fortum is a Nordic energy company. Our purpose is to power a world where people, businesses and nature thrive together. We are one of the cleanest energy producers in Europe and our actions are guided by our ambitious environmental targets. We generate and deliver clean energy reliably and help industries to decarbonise their processes and grow. Our core operations in the Nordics comprise of efficient, CO2-free power generation as well as reliable supply of electricity and district heat to private and business customers. For our ~5 000 employees, we commit to be a safe, and inspiring workplace. Fortum’s share is listed on Nasdaq Helsinki. fortum.com
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