Our targets

Vattenfall aims to contribute to a sustainable energy system in all parts of the value chain.

We strive to be a company where the customer is clearly at the center, while transitioning to a long-term sustainable production portfolio. See also financial goals below.

Strategic goals

Vattenfall's goals are based on the five strategic focus areas that guide our strategic direction. Read about our strategy.

In 2020, six strategic goals were set for the group until 2025. Vattenfall is taking the next step to enable the fossil-free future that drives society forward by introducing updated strategic goals for 2030. The outcomes of both the 2025 and 2030 goals are presented below.

Strategic targets for 2025

	Target for 2025	Outcome 2024	Comments
Driving decarbonisation with our customers and partners
	+18 Customer engagement, Net Promoter Score (NPS)¹	+15 (+11)	Increase in NPS mainly as a result of improvments in the Dutch customer business following lower prices.
Securing fossil-free energy supply
	≤ 86 gCO₂e/kWh CO₂ emissions intensity²	50 (69)	Improvement due to lower fossil-based generation, mainly due to divestment of the heat business in Berlin. For more information, see page 91 in the Annual and sustainability report.
Conducting high-performing operations, target over a business cycle³
	22%–27% Funds from operations (FFO)/adjusted net debt	49.2% (21.5%)	Above target interval as a result of lower adjusted net debt, mainly due to net received margin calls, the divestment of the heat operations in Berlin and the sale of offshore wind power projects.
	≥8% Return On Capital Employed (ROCE)⁴	12.4% (5.3%)	Outcome above target mainly due to positive changes in market value of energy derivatives and capital gains from divestment of offshore wind power projects.
Motivating and empowering our people
	≤1.0 Lost Time Injury Frequency (LTIF)⁵	1.4⁶ (1.5)	Above target levels although an improvement compared to 2023. Continue efforts to enhance safety . For more information, see page 110 in the Annual and sustainability report.
	75 Employee Engagement Index⁷	82 (80)	Outcome above target level after continued improved performance with more engaged employees. For more information, see page 28 in the Annual and sustainability report.

Notes to strategic targets

^{Figures in parantheses refer to 2023.

1. NPS is a tool for measuring customer loyalty and for gaining an understanding of customers’ perceptions of Vattenfall’s products and services.}^{2. Consolidated value including the heat business in Berlin until the sale on the 2nd of May 2024. Includes CO2 and other greenhouse gases such as N2O and SF6, as well as indirect emissions from electricity and heat use (Scope 2). The target for 2025 is to be on track to achieving the 1.5° C target by 2030, according to SBTi.}^{3. 5–7 years.}^{4. The key ratio is based on EBIT and average capital employed. More information on page 213 in the Annual andsustainability report.}^{5. Lost Time Injury Frequency (LTIF) is expressed as the number of lost time work injuries (per 1 million hours worked), that is, work-related accidents resulting in absence longer than one day, and accidents resulting in fatality. The ratio pertains only to Vattenfall employees.}^{6. Deviates from reported value as communicated in year-end report 2024.}^{7. Documentation for measurement of target achievement is derived from the results of the My Opinion employee survey, which is conducted on an annual basis.}

Strategic targets 2030

	Target for 2030	Definition	Outcome 2024	Comments
Driving decarbonisation with our customers and partners
	20 Customer engagement, Net Promoter Score (NPS)	NPS is a tool that measures customer loyalty and for gaining an understanding of customers’ perceptions of Vattenfall’s products and services.	+15	Increase in NPS (+11 in 2023) mainly as a result of improvments in the Dutch customer business following lower prices.
Securing a fossil-free energy supply
	18.2 Mt. Absolute CO₂emissions (includes scope 1, 2 and 3)	Total absolute CO₂e emissions including Scope 1, 2 and 3, as covered by Vattenfalls 2040 Net Zero targets validated by SBTi.	24.6	Total emissions reduced compared to 25.8 in 2023 due to more fossil- free electricity sales.
Conduct high-performing operations, target over a business cycle¹
	≥25 Funds from operations (FFO)/adjusted net debt	Capital structure metric based on proportional fund from operations excluding dividend attributable to non-controlling interests. Adjusted net debt is exclusing margin calls.	41.2%	Above target interval as a result of lower adjusted net debt, mainly due to the divestment of the heat operations in Berlin and the sale of offshore wind power projects.
	≥8% Return on capital employed (ROCE)	Profitability metric based on underlying EBIT excluding items affecting comparability.	6.3%	Outcome below target mainly due to lower underlying EBIT.
Motivating and empowering our people
	<2,0 Total recordable injury frequency (TRIF+) with a zero fatality threshold²	Workplace safety metric that includes occupational fatal accidents, injuries resulting in lost workdays, accidents requiring medical treatment beyond first aid, and incidents that restrict people’s ability to perform their regular duties.	3.5	Outcome above target level. Further actions required to enhance safety performance. For more information see pages 110-111 in the Annual and sustainability report.
	86 Employee Engagement Index³	Employee engagement is measured as the degree of employees’ connection to their organization, reflected in their commitment to achieving goals.	86	Outcome in line with target, continued efforts to maintain employee engagement.
	40% Driving diverse leadership	Target that focuses on increasing female representation in leadership roles. This metric is measured by the Female Manager Ratio, which reflects progress toward gender diversity in leadership.	34	While we are still below the target set for 2030, we are making significant strides in this area.

^{1. 5–7 years.}^{2. Per 1 million hours worked. This metric includes both Vattenfall employees and contractors. In case of fatality, this target can not be achieved.}^{3. Documentation for measurement of target achievement is derived from the results of the My Opinion employee survey, which is conducted on an annual basis.}

Financial targets

Vattenfall's owner has set three financial targets for the group.

Targets over a business cycle¹		Outcome 2024	Comments
Profitability	≥8% Return on capital employed (ROCE)²	6.3%	Outcome below target level due to lower underlying operating profit mainly due to provisions for nuclear power.
Capital structure	≥8% Funds from operations (FFO)/adjusted net debt³	41.2%	Above target interval as a result of lower adjusted net debt, mainly due to the divestment of the heat operations in Berlin and the sale of offshore wind power projects.
Dividend policy	40%–70% Of adjusted net profit³	7.0 SEK billion⁴	The Board of Directors has proposed a dividend of SEK 7 billion.

Notes to financial targets

^{Figures in parantheses refer to 2023.
1. 5–7 years.}^{2. Based on underlying EBIT exclusing items affecting comparability and average capital employed. More information on page 213 in the Annual and sustainability report.}^{3. Adjusted net profit is excluding fair values and return from nuclear waste fund. The updated dividend policy takes into account future developments in capital structure and investment needs..
4. Metric based on proportional fund from operations excluding dividend attributable to non-controlling interests. Adjusted net debt is excluding margin calls.}