Fortum books 2.1 bln euros in impairments from Russian operations (updated)
03/05/2022 07:32
(Adds detail)
HELSINKI, May 3 (Reuters) - Finnish utility Fortum
FORTUM.HE on Tuesday said it would book 2.1 billion euros
($2.2 billion) in pre-tax impairments from its Russian
operations in its first-quarter results.
The write-off includes 0.3 billion euros from Fortum's
Russia segment, 0.6 billion from Unipro, a Russian company owned
by Fortum's subsidiary Uniper UN01.DE , and 0.2 billion from
Fortum's ownership in Russian power company TGC-1 and in
renewables joint ventures in Russia, the company said.
Fortum in March said it would write off around 1 billion
euros from Uniper's receivables from the Nord Stream 2 gas
pipeline project that was halted by Germany as a response to
Russia's attack on Ukraine in February.
($1 = 0.9519 euros)
(Reporting by Essi Lehto; Editing by Kirsten Donovan and Edmund
Blair)
((Essi.Lehto@thomsonreuters.com; +358505412375;))