Vattenfall – year-end report 2023

Financial highlights, January-December 2023

• Net sales increased by 21% (14% excluding currency effects) to SEK 290 168 million (239 644).
• Underlying operating profit of SEK 20 005 million (35 075).
• Operating profit of SEK 16 991 million (12 645).
• Profit for the period of SEK 10 395 million (21).
• The Board of Directors proposes a dividend of SEK 4 billion.

Financial highlights, October-December 2023

• Net sales decreased by 7% (-10% excluding currency effects) to SEK 73 292 million (78 819).
• Underlying operating profit of SEK 4 455 million (12 527).
• Operating profit of SEK 6 061 million (-24 062).
• Profit for the period of SEK 5 657 million (-16 959).

Business highlights, January-December 2023

• Lower electricity prices both in the Nordics and on the Continent as well as reduced price area differences compared to 2022.
• Divestment of Berlin heat business to the State of Berlin.
• Divestment of Norfolk Offshore Wind Zone.  
• Memorandum of understanding between Vattenfall and BASF regarding a partnership for the German offshore wind projects Nordlicht I and II.
• Inauguration of the Hollandse Kust Zuid offshore wind farm in the Netherlands and the onshore wind farm South Kyle in the UK.
• Vattenfall's goal of net-zero emissions by 2040 has been approved by the Science Based Targets initiative.
• The Swedish Energy Market Inspectorate has decided on the model and WACC for the revenue frames for electricity grid operators for the period of 2024-2027.

The complete interim report and presentation images are available on group.vattenfall.com.

At a live studio broadcast at 09.30 CET Vattenfall’s President and CEO Anna Borg and CFO Kerstin Ahlfont will present the results together with Head of Strategic Development Andreas Regnell. 

The broadcast can be found at  Vattenfall year-end report 2023

To join by telephone, please dial one of the numbers before the broadcast starts:

+46 8 505 218 52 (Sweden)

+44 20 3321 5273 (UK)

Telephone conference ID: 300 106 79#

The information was submitted for publication, through the agency of the contact persons set out below, at 08.00 CET on February 6, 2024. This report has been prepared in both Swedish and English versions. In the event of discrepancies between the two versions, the Swedish version shall govern.

For more information, please contact:

Johan Sahlqvist, Head of Group Control & Investor Relations +46 72 226 40 51 johan.sahlqvist@vattenfall.com

Johan Sennerö, Press Officer +46 73 046 40 45 johan.senneroe@vattenfall.com

Vattenfall Press Office +46 87 39 50 10 press@vattenfall.com