Fortum reaches 91.61 percent Elmera acceptance: Fortum stock sits 8.75 percent below its high

Published on 10/05/2026 at 13:37 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Fortum stock costs EUR 23.58 on October 5, 2026 after EUR 23.75. Second-quarter cash flow rose to EUR 324.0 million from EUR 203.0 million.

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Fortum stock was trading at EUR 23.58 at Lang & Schwarz on October 5, 2026 at 1:32 p.m. CEST, 8.75 percent below its 52-week high of EUR 25.84. On October 2, 2026, the company received acceptances for 91.61 percent of Elmera Group shares in its cash tender offer, according to Fortum.

Elmera acceptance clears a key hurdle

Fortum Consumer Solutions received acceptances for 104,755,535 Elmera shares, representing 91.61 percent of the issued share capital and voting rights. The figure rose to 95.80 percent when Elmera treasury shares were excluded, giving Fortum a route toward compulsory acquisition of the remaining shares and a possible delisting from Euronext Oslo Bors.

The offer price is NOK 47 per Elmera share. Fortum said settlement is subject to the remaining closing conditions, so the transaction expands the consumer business while leaving execution conditions in place.

Cash flow offsets weaker quarterly earnings

Fortum reported second-quarter 2026 revenue of EUR 1.124 billion and operating income of EUR 107.0 million in the standardized financial data. Operating cash flow reached EUR 324.0 million, up 59.61 percent from EUR 203.0 million in the second quarter of 2025, according to Investing.com.

The same October 2 report said comparable operating profit fell to EUR 106.0 million from the prior-year period, while comparable earnings per share declined to EUR 0.08 from EUR 0.09. That contrast matters: working-capital support strengthened cash generation, but the underlying quarterly earnings trend remained softer.

UBS target leaves limited upside

UBS upgraded Fortum to Neutral from Sell and raised its price target to EUR 24.50 from EUR 14.60 on October 2, 2026, according to Investing.com. The new target lies 3.90 percent above the Lang & Schwarz price of EUR 23.58.

UBS linked the upgrade to Fortum's 4.0 terawatt-hour power purchase agreement with Google and lifted its 2030 earnings-per-share estimate by 45.00 percent. Fortum also lowered its 2026 nuclear output guidance to 23.0 terawatt-hours to 23.5 terawatt-hours from 23.5 terawatt-hours to 24.0 terawatt-hours, creating a measurable counterweight to the data-center opportunity.

Fortum stock remains below its yearly high

Fortum was trading at EUR 23.58 at Lang & Schwarz on October 5, 2026 at 1:32 p.m. CEST, down 0.72 percent versus the prior close of EUR 23.75 on October 2, 2026. The further course of trading is shown by the continuously updated real-time quote of Fortum stock.