Fortum in Russia sees revenue fall 3% to 1.1 bln euros in 2018
MOSCOW. Feb 4 (Interfax) - The Russian division of Finnish energy concern Fortum saw its sales revenue fall 3% to 1.069 billion euros in 2018, the parent company said in a report.
Revenue from electricity sales in Russia grew 4% to 872 million euros and while heat sales fell 25% to 193 million euros.
EBITDA fell 5% to 417 million euros and operating profit fell 7% to 273 million euros.
Sales declined, due to the weaker ruble and the transfer of the heat business in Tyumen to the Yustek joint venture. The decline was partly offset by higher received CSA payments and higher power sales volumes.