Vattenfall's interim report for January to 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

Financial highlights, April–June 2020

  • 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

Business highlights, April–June 2020

  • 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

Events after the balance sheet date

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

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

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