Energy Market, Good for Business, Latvia
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Friday, 19.04.2024, 05:45
Fortum Latvia power and heating utility raises turnover 0.6% in 2017
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Fortum Latvia generated
its turnover from selling the electric and thermal power generated at its
combined heat and power (cogeneration) facilities. In 2017, revenue from
selling electric power dropped 1.2% to EUR 11.222 mln and revenue from selling
thermal power rose 4.2% to EUR 5.718 mln, the company’s management said in the
annual report.
In 2018, Fortum Latvia
has started the acquisition of shares in several companies for the total price
of EUR 3.997 mln. The Competition Council is currently in the process of
reviewing three acquisition deals.
According to information released by the Competition
Council, Fortum Latvia is seeking
permission to acquire a controlling interest in the following energy companies: BK Energija, Energy&Communication
and Sprino.
In 2016, Fortum Latvia
turned over EUR 16.842 mln and made a EUR 2.409 mln profit.
Fortum Latvia is a
member the multinational energy group Fortum, which employs more than 9,000
people in the Baltic and Nordic countries, Poland, India and Russia. ortum is
listed on the Nasdaq Helsinki Stock Exchange (Nasdaq Helsinki).
Fortum has been
operating in Latvia since 2007. Information available at Firmas.lv shows that
Fortum Latvia belongs to the Dutch-registered company Fortum Holding B.V.
«The Baltic Course» Is Sold and Stays in Business!
