Fortum stock carries Elmera offer into October 2026

Published on 09/25/2026 at 12:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Fortum stock faces an October 2, 2026 deadline for the NOK 47 Elmera offer. DNB Carnegie lifted its target to EUR 27 from EUR 20.40 on September 22.

Photorealistic nordic hydropower dam at frozen lake under polar twilight sky with snow-covered conifers — Fortum FI0009007132 nordisches Wasserkraftwerk an verschneitem See bei polarer Dämmerung mit Spiegelung, Illustration mit AI erstellt.

Fortum stock (ISIN FI0009007132) was trading at EUR 23.71 on Nasdaq Helsinki on September 25, 2026, up EUR 0.04 or 0.17 percent from EUR 23.67. As MarketScreener reported on September 18, 2026, Fortum extended its Elmera offer deadline to October 2, 2026, at 4:30 p.m. London time.

Elmera deadline moves to October

The offer price remains NOK 47 per Elmera share, while Fortum's stake in the Norwegian energy retailer surpassed 88 percent on September 21, 2026, according to MarketScreener. Fortum's investor-relations page says the transaction requires acceptance from more than 90 percent of Elmera shares and is otherwise subject to customary conditions.

The revised timetable keeps the takeover as the clearest company-specific issue around the stock. The threshold is close to the reported ownership level, but the acceptance condition still defines the transaction's next step.

Q2 cash flow offsets earnings decline

Fortum's Q2 2026 comparable operating profit totaled EUR 106 million, down EUR 9 million from the prior-year quarter, while comparable earnings per share fell to EUR 0.08 from EUR 0.09. Yahoo Finance reported the figures from Fortum's Q2 and half-year 2026 transcript dated July 21, 2026.

Operative cash flow moved in the opposite direction, reaching EUR 324 million, an increase of EUR 121 million from the comparable quarter last year. The combination gives the quarter a split operating profile, with weaker comparable earnings but stronger cash generation.

Target rises above the reference price

DNB Carnegie upgraded Fortum to Buy from Hold on September 22, 2026, and lifted its price target to EUR 27 from EUR 20.40, according to MarketScreener. The new target lies 13.9 percent above the EUR 23.71 reference price, while the average analyst target shown on the same page was EUR 21.39.

Fortum's September 25, 2026 price was EUR 2.13 below its 52-week high of EUR 25.84 and EUR 8.28 above its 52-week low of EUR 15.43. The company's market capitalization was EUR 21,274,140,465 and trading volume was 67,119 shares at the quoted snapshot.

Fortum stock trades below yearly high

Fortum stock was trading at EUR 23.71 on Nasdaq Helsinki on September 25, 2026, with a daily change of 0.17 percent and market capitalization of EUR 21,274,140,465.