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Rating: FOJCY
Hold

Fortum Oyj (OTCBB: FOJCY) rated to Hold by Berenberg

Tuesday,  Dec 8, 2015  10:25 AM ET by Dave Ficere

Berenberg rated
Fortum Oyj (OTCBB: FOJCY) to Hold.

Fortum Oyj, together with its subsidiaries, engages in the generation, distribution, and sale of electricity and heat; and operation and maintenance of power plants primarily in the Nordic countries, the Russian Federation, and the Baltic Rim area. Its Power segment involves in generation and sale of power; and physical operation and trading, as well as offers services for power producers in the Nordic market and other international markets. This segment sells its power principally to the Nordic power exchange, Nord Pool Spot. The company?s Heat segment provides district heating and cooling, industrial steam, and energy to industrial companies, municipalities, and end-users in the Nordic countries and other parts of the Baltic Rim. This segment also sells electricity from its combined heat and power production to the Nord Pool Spot. Its Distribution segment owns and operates distribution and regional networks, as well as distributes electricity to a total of 1.6 million customers in Sweden, Finland, Norway, and Estonia. The company?s Electricity Sales segment involves in the retail sale of electricity to a total of 1.2 million private and business customers, as well as to other retailers in Finland, Sweden, and Norway. Fortum Oyj was founded in 1998 and is headquartered in Espoo, Finland.

Berenberg



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