Fortum Oyj : profit up on Uniper, power unit lags : vim

Fortum Oyj : profit up on Uniper, power unit lags


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HELSINKI (Reuters) - Fortum on Friday reported a jump in fourth-quarter profit helped by German subsidiary Uniper but its core power generation business missed forecasts, knocking shares in Finland's biggest utility.
Comparable operating profit rose to 928 million euros ($1.11 billion) from 398 million a year earlier, beating the 864 million expected by analysts, Refinitiv Eikon data showed.
"When taking into account that Uniper's result was better than expected, the operating result of 'the old Fortum' was a slight disappointment," said Inderes analyst Juha Kinnunen.
Its power generation unit reported a fall in operating profit to 177 million euros from 239 million a year earlier reflecting low power prices and low nuclear volumes and missing the 198 million expected by analysts in a poll provided by the company.

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