Vattenfall – year-end report 2020

Financial highlights, January-December 2020

• Net sales decreased by 5% (-4% excluding currency effects) to SEK 158,847 million (166,360)
• Underlying operating profit of SEK 25,790 million (25,095)
• Operating profit 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   

Financial highlights, October-December 2020

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

Business highlights, January-December 2020

• 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

The complete year-end report and presentation images are available on group.vattenfall.com

At a live webcast at 10.00 CET Vattenfall’s President and CEO Anna Borg and CFO Kerstin Ahlfont will present the results together with Head of Strategic Development Andreas Regnell who will host the webcast. 

The webcast can be found at Webcast - Vattenfall year-end report January-December 2020

and can also be attended by phoning +46 (0)8 505 100 31.

Vattenfall AB is obliged to disclose information of this nature under the EU Market Abuse Regulation. The information was submitted for publication on 4 February 2021 at 08:00 am CET by the following contact persons.

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, tel.: +46 87 39 50 10, press@vattenfall.com