Fortum targets to lower the fixed cost base of current operations by EUR 100 million

FORTUM CORPORATION STOCK EXCHANGE RELEASE 3 February 2016 at 09.06 EET

Fortum continues to improve its cost structure with a target to reduce the fixed cost base by EUR 100 million in its current operations by the end of 2017. This is a natural continuation to the cost savings completed in 2013–14.

"Our industry is facing significant pressures from the persistently demanding business environment, including low commodity prices. While we are building Fortum’s future in accordance with our new vision, continuous cost improvement in our existing operations is a must, and there are a lot of opportunities. We will further streamline our organisation, improve our operational efficiency and put more focus on procurement," says Pekka Lundmark, President and CEO.

Fortum Corporation
Helena Aatinen
Senior Vice President, Communications

Further information:
Pekka Lundmark, President and CEO, Fortum  Corporation, tel. +358 10 45 24112

Media:
Helena Aatinen, Senior Vice President, Communications, tel. +358 10 45 20480

Investors and analysts:
Sophie Jolly, Vice President, Investor Relations, tel. +358 10 45 32552

Distribution:
Nasdaq Helsinki
Key media
www.fortum.com

Fortum
Fortum's vision is to be the forerunner in clean energy. We provide our customers with electricity, heat and cooling as well as other energy solutions that improve present and future life. Already 64% of our electricity generation is CO2 free. Our main markets are the Nordic and the Baltic countries, Russia, Poland and India. In 2015, we employed some 8,000 energy sector professionals, and our sales were EUR 3.5 billion. Fortum's share is listed on Nasdaq Helsinki. www.fortum.com