Finnish Fortum's comparable earnings in the third quarter of the year increased by 15% to €1.2 billion from €1.05 billion during the same quarter of last year, the company said Thursday.
However, the company's operating profit in the third quarter of 2019 decreased to €666 million from €829 million on an annual basis.
"The highlight of the third quarter was the doubling of the comparable operating profit of the generation segment. Hydro volumes returned to normal from the historically low level a year ago. Nuclear volumes increased and were at a good level," President and CEO Pekka Lundmark said.
He added that in spite of the clearly lower spot prices, the company was able to increase its achieved power price with successful hedging, which further strengthened the results.
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By Murat Temizer