Interim report for January-June 2020

21 July 2020

Financial highlights, January–June 2020

Net sales decreased by 6% (-7% excluding currency effects) to SEK 79,440 million (84,243)
Underlying operating profit¹ of SEK 12,982 million (13,295)
Operating profit¹ of SEK 5,287 million (11,038)
Profit for the period of SEK -1,594 million (7,673)
Impairment losses of SEK -10,601 million (0) related to assets in operating segment Heat and Wind

Net sales decreased by 10% (-9% excluding currency effects) to SEK 31,280 million (34,691)
Underlying operating profit¹ of SEK 2,792 million (3,622)
Operating profit¹ of SEK -7,027 million (2,869)
Profit for the period of SEK -8,495 million (1,253)
Impairment losses of SEK -10,599 million (0) related to assets in operating segment Heat and Wind

Large price declines and changed market conditions, especially for coal-fired power, resulting in large impairment losses
Investment decision on Hollandse Kust Zuid 1-4 offshore wind farm in the Netherlands
Investment decision and agreement on future sale of the South Kyle onshore wind farm in Scotland
Agreement with Svenska Kraftnät on earlier restart of Ringhals 1 for the period 1 July–15 September
Government decision on national plan for modern environmental requirements for hydro power in Sweden
Inauguration of Marzahn CHP plant in Berlin
Decision on reduced electricity network tariffs for 870,000 customers in Sweden starting 1 July

Vattenfall’s President and CEO Magnus Hall has decided to leave Vattenfall. The Board of Directors will initiate the recruitment process for a successor

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