Annual Report 2014 | Suomeksi |

Annual Report 2014

Fortum is an energy company highly committed to sustainability. We strive to respond to the needs of our customers by generating, selling and distributing low-carbon electricity and heat and by offering energy-sector expert services.


Ceo's review


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This is Fortum

Fortum’s purpose is to create energy that improves the life for present and future generations. Our stable financial footing provides us opportunities to grow and actively participate in restructuring the energy sector. We build on our strong Nordic core and create solid earnings growth in Russia and establish a platform for future growth.

Return on capital employed, %

Our operational cash flow in 2014 was EUR 1,762 million.

Business

We have strong competence in CO2-free hydro and nuclear production, and efficient combined heat and power (CHP) production as well as in operating on energy markets. We strive to minimize our environmental impact in all our operations.

Power generation by source1), %

64% of our energy production is CO2-free.

In Society

We provide sustainable solutions for society and deliver excellent
value to our shareholders. We make sure that the impacts of our
supply chain to the surrounding society are managed in line
with sustainability principles.

Personnel by country, 31 Dec. 2014

Financials

Fortum's sales in 2014 were EUR 4,751 million.
Comparable operating profit totalled EUR 1,351 million and
cash from operating activities was a strong EUR 1,762 million.

Note that Fortum's income statement and cash flow for 2014 have been
restated and the figures presented in the financial statements bulletin 2014
are therefore not comparable with the 2015 interim reports’ figures.
Stock exchange release 15 April 2015

Operating profit and comparable
operating profit, EUR million

Earnings per share were EUR 3.55, of which EUR 2.36 per share relates to items affecting comparability

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.


The meeting participation rate for Board of Directors 100% In connection with the reorganisation as of 1 March 2014 Fortum Management Team was renamed as Fortum Executive Management Team (FEM) and the number of members was extended from nine to twelve.

GRI

We report annually on sustainability in accordance with the Global Reporting Initiative Reporting Guidelines. Our reporting for 2014 follows the core option of the GRI G4 Guidelines. Deloitte & Touche Oy has provided limited assurance for the sustainability information presented on our Finnish language web report with the boundaries presented in the assurance statement.


Out target is to achieve over 1,400 GWh of annual energy savings by the year 2020. This energy savings is equal to the annual heat energy need of more than 75,000 homes. During 2013 and 2014, we have already achieved 49% of this target.

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