Vattenfall's 2020 full-year results

4 February 2021

Financial highlights, January–December 2020

Net sales decreased by 5% (-4% excluding currency effects) to SEK 158,847 million (166,360)
Underlying operating profit¹ of SEK 25,790 million (25,095)
Operating profit¹ of SEK 15,276 million (22,141)
Profit for the period of SEK 7,716 million (14,861)
The Board of Directors proposes a dividend of SEK 4,000 million, corresponding to 62% of profit for the year attributable to the owner of the Parent Company

Net sales decreased by 5% (-2% excluding currency effects) to SEK 44,032 million (46,179)
Underlying operating profit¹ of SEK 7,987 million (8,207)
Operating profit¹ of SEK 5,246 million (2,427)
Profit for the period of SEK 5,727 million (488)

Mild weather and high level of precipitation contributed to unusually high hydrological balance, putting pressure on Nordic electricity prices
Permanent closure of Ringhals 1 on 31 December
Important progress in offshore wind investment projects, including investment decision for Hollandse Kust Zuid 1–4 in the Netherlands
Commissioning of Princess Ariane wind farm in the Netherlands
Continued high demand for new connections to both regional and local electricity grids
Vattenfall offers State of Berlin to buy all of the shares in electricity network company Stromnetz Berlin
Support for closure of Moorburg power plant in Hamburg and recognition of large impairment losses for the plant
Inauguration of pilot plant for HYBRIT, a partnership project for fossil-free steel production
Anna Borg took over as new President and CEO on 1 November

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

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, mob.: +46 (0)70 261 30 84

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