Vattenfall's 2019 full-year results

5 February 2020

Financial highlights, January–December 2019

• Net sales increased by 9% (7% excluding currency effects) to SEK 166,360 million (152,091)
• Underlying operating profit¹ increased by 26% to SEK 25,095 million (19,883)
• Operating profit¹ increased by 26% to SEK 22,141 million (17,619)
• Profit for the period increased by 24% to SEK 14,861 million (12,007)
• The Board of Directors proposes a dividend of SEK 7,245 million, corresponding to 55% of profit for the year attributable to the owner of the Parent Company

Financial highlights, October–December 2019

• Net sales increased by 3% (1% excluding currency effects) to SEK 46,179 million (45,020)
• Underlying operating profit¹ increased by 77% to SEK 8,207 million (4,627)
• Operating profit¹ decreased by 42% to SEK 2,427 million (4,189)
• Profit for the period decreased by 84% to SEK 488 million (3,100)

^{1) See Definitions and calculations of key ratios for definitions of Alternative Performance Measures.}

Business highlights, January–December 2019

• Continued customer growth, especially in Germany
• Growth in offshore wind power with inauguration of Horns Rev 3 (407 MW) in Denmark and winning tender for Hollandse Kust Zuid 3&4 (~750 MW) in the Netherlands
• Permanent closure of Ringhals 2
• Acquisition of sales company DELTA Energie in the Netherlands
• Closure of the coal-fired power plants Hemweg 8 in Amsterdam and Reuter C in Berlin
• Transfer of district heating operations in Hamburg
• Extensive repair work on electricity network following the storm “Alfrida”
• Reduced revenue frames for distribution operations in Sweden for the period 2020–2023
• New CO₂ reduction targets approved by the Science Based Targets initiative

For more information, contact

Johan Sahlqvist, Head of Investor Relations, tel. +46 (0)8 739 72 51, mob. +46 (0)72 226 40 51

Markus Friberg, Head of Media Relations & Editorial Nordic/Corp/EU, mob. +46 (0)70 261 30 84

Vattenfall's Press Office, tel. +46 (0)8 739 50 10, press@vattenfall.com