Net profit of Fortum under IFRS in the first half of the year increased by 1.8 times

PJSC Fortum presented interim consolidated financial statements for the first half of 2023. According to documentsfrom the beginning of January to the end of June, the company’s net profit under IFRS increased 1.8 times compared to the results of the first half of 2022, to 9.083 billion rubles.

PJSC Fortum’s sales revenue increased by 16.6% and amounted to RUB 46.6 billion. The operating profit of the company increased by 18.5%, to 13.62 billion rubles, profit before taxes amounted to 10.967 billion rubles, compared with the previous year, the figure increased by 1.6 times.

PJSC Fortum is one of the leading producers and suppliers of heat and electricity in the Urals and Western Siberia. The structure of the company includes seven thermal power plants, four of them are located in the Chelyabinsk region, three – in the Tyumen region.

In April, Russian President Vladimir Putin signed a decree according to which the temporary management of the share of Fortum and the German company Uniper in the subsidiaries of Fortum and Unipro is transferred under the control of Russia. In July, the concern notified the Russian side that it plans to seek compensation from Moscow in an international court for lost assets and investments in Russia. At a meeting on August 22, Fortum shareholders decided to rename the company to Forward Energo.

Milena Kostereva