Vattenfall (VF) Corporate factbook presentation summary

Strategy and targets

• Integrated utility strategy spans generation, flexibility, grids, sales, services and trading to connect and optimise the energy system and support decarbonisation.

• 2030 targets include NPS +20, absolute emissions of 18.2 Mt CO₂e, TRIF+ below 2.0, ROCE of at least 8% and FFO/adjusted net debt of at least 25%.

• 2025 outcomes included NPS +19, ROCE 10.2% and FFO/adjusted net debt 62.8%; a SEK 8bn dividend was proposed by the owner.

• Emissions were 56% below 2017 levels in 2025; validated science-based targets cover scopes 1–3 and include a 2040 net-zero target.

Operating portfolio

• H1 2026 underlying EBIT was SEK 22.1bn versus SEK 15.3bn in H1 2025, with increases across all operating segments.

• Power Generation operates 5.7 GW of nuclear and 11.8 GW of hydro capacity; H1 2026 generation was 18.8 TWh nuclear and 19.0 TWh hydro.

• Wind generated 9.5 TWh in H1 2026 from 7.3 GW operated capacity, with 2.0 GW under construction and 2.5 GW in mature-stage development.

• Customers & Solutions had 11.5m electricity, gas and heat contracts and 79,000 connected charging points at H1 2026; FY2025 electricity sales were 108.2 TWh.

• Distribution serves about 1.0m customers and carries over 50% of Sweden’s electricity through its regional grid; 2025 RAB was SEK 92bn.

Investment and growth

• Net capex for 2026–2030 is SEK 165bn, including SEK 92bn growth capex; wind receives SEK 62bn and electricity distribution SEK 47bn of net capex.

• Renewable development pipeline totals ~35 GW across offshore wind, onshore wind, solar and batteries.

• Nordlicht I and II comprise a 1.6 GW offshore wind cluster expected to produce up to 6 TWh annually; Nordlicht I construction began in July 2026, with operations expected in 2028.

• New nuclear development at Videberg Kraft is advancing; a planned ownership structure assigns 60% to the Swedish state and 20% each to Vattenfall and Industrikraft, subject to the expected 2027 transition.