Fortum shares get boost from Q1 profit beat, driven by strong generation

Fortum Oyj

29/04/2025 08:32

** Shares in Fortum FORTUM.HE rise 3.7% after the Finnish utility posted quarterly results above expectations, citing successful power generation optimization

** Fortum says its January-March comparable operating profit fell to 462 million euros ($526 million) but beat analysts' average forecast of 364 million, seen in a poll by Vara Research

** "We see this set of results as strong and driven primarily by generation, where the company achieved a EUR 60/MWh power price (versus Vara consensus of EUR 53)," J.P.Morgan analysts say

** Fortum has also upgraded its optimization premium guidance for 2025, and we expect its shares to outperform the market today, the analysts add

** The stock is on track for its best day since November 2024, if the gains hold

($1 = 0.8783 euros)

 (Reporting by Tomasz Kanik)

 ((tomasz.kanik@thomsonreuters.com))