Vattenfall's 2019 full-year results

CEO Magnus Hall and CFO Anna Borg comment on Vattenfall’s full-year results 2019. The press and analyst conference has been broadcast in a live webcast and is available on-demand.

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

See also

Read our latest annual and sustainability report, interim reports and other presentations.

A girl in a green sweater looking into the camera

We have decided to make the biggest leap yet to reduce the impact of climate change.

Horns Rev 3 offshore wind farm

Learn about our strategic and financial targets.