Fortum’s business activities cover the production and sales of electricity and heat, waste-to-energy and circular economy solutions, as well as energy-sector expert services and various consumer solutions. Fortum is the third largest power generator and the largest electricity retailer in the Nordic countries. Globally, the company is one of the leading heat producers. As two thirds of Fortum’s power production is hydro and nuclear, the company is also among the lowest-emitting generators in Europe.
With core operations in 10 countries, Fortum employs a diverse team of more than 8,000 energy-sector professionals. Fortum has 124 hydro power plants, 27 CHP (combined heat and power), condensing, and nuclear power plants as well as three wind power parks and three solar power plants. Globally, the company supplies heat in 23 cities and towns and has five main waste treatment facilities. Fortum’s key markets are the Nordic and Baltic countries, Russia, Poland, and India.
Fortum’s reportable segments under IFRS are Generation, City Solutions, Consumer Solutions, and Russia. M&A and Solar & Wind Development, Technology and New Ventures as well as corporate functions are reported under Other Operations. Fortum’s participation in Uniper SE is also reported as part of Other Operations.
In November 2018, Fortum announced that the solar and wind businesses were reorganised as they have grown beyond the initial development phase. The wind operations became a business area within the Generation division and the solar operations a business within the City Solutions division. The Russian wind and solar operations continues as a part of the Russia division. The segment reporting will be changed as of 2019 and 2018 figures will be restated accordingly.