To evaluate whether Fortum Oyj is suitable for issuing hybrid bonds based on the 2022 financial data provided, we must analyze its profitability, cash flow stability, and overall financial health. Hybrid bonds are deeply subordinated debt instruments with deferrable coupons, meaning that investors require confidence in the issuer's long-term stability, profitability, and ability to generate reliable cash flows to ensure they receive their interest payments. 

1. **Profitability:** Fortum recorded a staggering total "Profit Loss" of -10.29 billion EUR for 2022 (driven largely by a -11.3 billion EUR loss from discontinued operations). Total comprehensive income was deeply negative at -10.76 billion EUR. While continuing operations yielded a profit of 1.01 billion EUR, the total aggregate losses are severe and substantially erode capital.
2. **Cash Flows:** The company's total "Cash Flows From Used In Operating Activities" was deeply negative at -8.77 billion EUR, indicating massive cash outflows at the group level during the period, driven by discontinued operations. 
3. **Equity and Liabilities:** Although total equity remains positive at 7.74 billion EUR, it has nearly halved from the previous year's 13.67 billion EUR. 

Given the massive magnitude of the net losses and the severe negative operating cash flows observed at the total group level in 2022, investors would typically view the risk of coupon deferral on subordinated debt as excessively high. Companies undergoing such extreme financial stress and restructuring shocks are generally shut out of the hybrid capital markets until stability is fully restored.

<answer>Not Suitable</answer>