Vattenfall – year-end report 2019

Financial highlights, January-December 2019

• Net sales increased by 9% (7% excluding currency effects) to SEK 166,360 million (152,091)
• Underlying operating profit increased by 26% to SEK 25,095 million (19,883)
• Operating profit increased by 26% to SEK 22,141 million (17,619)
• Profit for the period increased by 24% to SEK 14,861 million (12,007)
• The Board of Directors proposes a dividend of SEK 7,245 million, corresponding to 55% of profit for the year attributable to the owner of the Parent Company   

Financial highlights, October-December 2019

• Net sales increased by 3% (1% excluding currency effects) to SEK 46,179 million (45,020)
• Underlying operating profit increased by 77% to SEK 8,207 million (4,627)
• Operating profit decreased by 42% to SEK 2,427 million (4,189)
• Profit for the period decreased by 84% to SEK 488 million (3,100)

Business highlights, January-December 2019

• Continued customer growth, especially in Germany
• Growth in offshore wind power with inauguration of Horns Rev 3 (407 MW) in Denmark and winning tender for Hollandse Kust Zuid 3&4 (~750 MW) in the Netherlands
• Permanent closure of Ringhals 2
• Acquisition of sales company DELTA Energie in the Netherlands  
• Closure of the coal-fired power plants Hemweg 8 in Amsterdam and Reuter C in Berlin
• Transfer of district heating operations in Hamburg
• Extensive repair work on electricity network following the storm “Alfrida”
• Reduced revenue frames for distribution operations in Sweden for the period 2020-2023  
• New CO₂ reduction targets approved by the Science Based Targets initiative

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

Vattenfall’s President and CEO Magnus Hall and CFO Anna Borg will present the results for the period January - December 2019 at a press conference at Vattenfall Head Office at 9.30 am.

The press conference is being broadcast live on group.vattenfall.com and can also be attended by phoning +46 (0)8 505 100 31.

This is information is such that Vattenfall AB is obliged to make public in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08.00 CET on 5 February 2020.

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 & Editorial Nordic/Corp/EU, mob.: +46 (0)70 261 30 84

Vattenfall's Press Office, tel.: +46 87 39 50 10, press@vattenfall.com