Q2 EBITDA drops to 344 mln euros vs 364 mln estimate
Fortum reviews recycling, waste businesses
Power generation profit improves

HELSINKI, Aug 4 Reuters Finnish utility Fortum posted on Friday weakerthanexpected secondquarter core profits and said it would consider selling its recycling and waste businesses as it looks to focus on clean energy.

Comparable earnings before interest, tax, depreciation and amortisation EBITDA for the quarter fell 5 to 344 million euros 377 million from a year earlier, and came in below an average of 364 million euros expected by nine analysts in a poll provided by the company.

Fortum is recovering from a tumultuous year during which it had to give up its troubled German subsidiary Uniper to the German government, followed by Russia taking control of both groups39; Russian assets.

Fortum said profit at its power generation segment improved, while its consumer sales declined.

Unfortunately the Consumer Solutions segment had a rather poor quarter mainly due to the continued churn with customer outflow from certain hedged power contracts, Fortum CEO Markus Rauramo said in a statement.

Earnings for the quarter were also dented by lower profits of associates, Fortum said, mainly caused by the effects of Swedish nuclear wasterelated provisions in coowned nuclear companies.

In March, Fortum announced a new strategy focused on Nordic emissionsfree energy, in an effort to put the crisis behind it.

In the coming months, we look forward to…