Fortum's share of profits will not be affected by Uniper's 2019 impairments.
Global Banking News-March 13, 2020-Fortum's share of profits will not be affected by Uniper's 2019 impairments
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Clean energy company Fortum Oyj (HEL:FORTUM) announced on Thursday that in its first-quarter 2020 results it expects to record a reversal of approximately EUR315m after tax related to the negative impact of Uniper's impairments.
Reportedly, Uniper has recorded impairments of EUR1,048m in its financial statements for 2019. As a result of this, Fortum expects its Q1 2020 share of profits from Uniper's results to be approximately EUR90m.
In the purchase price allocation of the acquisition of 49.99% of the shares in Uniper, Fortum had recorded a fair value adjustment of EUR613m after tax, relating to political and regulatory risks of certain generation and production assets of Uniper.
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