Annual Report 2013 | Suomeksi |

Annual Report 2013

Fortum is an energy company highly committed to sustainability. Catering to the versatile needs of our customers, we generate, distribute and sell electricity and heat and offer related expert services.


Ceo's review

In 2013, the operating environment continued to be challenging. Nevertheless, the year was satisfactory for Fortum. The implementation of the investments in Europe and Russia continued with determination. We served more retail customers than ever before.

Annual Review

In 2013, we implemented our strategy by creating energy that improves life for present and future generations. Five new production facilities were inaugurated in Northern Europe and two in Russia.

Our efficiency programme increasing flexibility and securing competitiveness progressed as planned. The assessment of our electricity distribution business was completed, and we announced that the Finnish networks will be sold. Watch a video about our year 


Fortum's
geographical areas

Fortum’s operations focus on the Nordic and Baltic countries, Russia and Poland. In the future, precisely targeted growth opportunities will be pursued in areas aligned with our strategy.

Financials

In a challenging market environment, our result remained at a satisfactory level. The cash flow from operating activities was very strong with all divisions contributing.


Our results

Operating profit and comparable
operating profit, EUR million

Earnings per share were EUR 1.36, of which EUR 0.10 per share relates to items affecting comparability.

Corporate Governance

The General Meeting of Shareholders is the highest decision-making body of Fortum. The Board of Directors is responsible for the company's strategic development. The President and CEO is in charge of the operative, day-to-day management.


Shareholders' Nomination Board

In 2013, the Annual General Meeting established a permanent Shareholders' Nomination Board in accordance with the proposal of the Board of Directors. Its purpose is to prepare and present to the Annual General Meeting a proposal on the remuneration, number and members of the Board of Directors.

Sustainability

Sustainable business is our competitive advantage. We produce and distribute environmentally benign electricity and heat and offer customer-driven energy products and services. We interact with millions of people on a daily basis and build a sustainable energy future together with our various stakeholders.


Sustainability
in 2013

Fortum continued persistent responsibility work that was recognized also internationally. Sustainability policy, targets and management were revised and operations were developed based on the principle of continuous improvement.

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