Vattenfall (VF) Corporate factbook presentation summary

Business overview and strategy

• Integrated utility active across the value chain: generation, flexibility, distribution, sales, services, optimisation, and trading.

• 100% owned by the Swedish state, with strong credit ratings (BBB+ S&P, A3 Moody's).

• Main markets include Sweden, Netherlands, Germany, Denmark, and the UK, serving 7.7 million electricity customers.

• Strategic focus on enabling fossil freedom, growing renewables, and climate-smart solutions.

• Significant reduction in CO2 emissions and increase in renewable capacity since 2015.

Operating segments and financials

• Four main segments: Customers & Solutions, Power Generation, Wind, and Distribution.

• Customers & Solutions: SEK 95.8bn net sales, 16% of EBITDA, 5.1 million contracts in Germany.

• Power Generation: SEK 76.5bn net sales, 45% of EBITDA, 21.2 TWh nuclear and 18.0 TWh hydro in H1 2025.

• Wind: 7.8 TWh generated from 6.6 GW operated capacity, strong pipeline with 2.2 GW in construction.

• Distribution: SEK 10.3bn net sales, 26% of EBITDA, leading operator in Sweden with 1 million customers.

Financial performance and targets

• 2024 underlying EBIT: SEK 19.8bn, with declines in Customers & Solutions and Wind, offset by Power Generation and Distribution.

• Financial targets: ROCE ≥8% (2024: 5.4%), FFO/adjusted net debt ≥25% (2024: 41.5%), dividend payout 40–70% of adjusted net profit.

• SEK 7bn dividend paid in 2024.

• Strong liquidity position with SEK 64.7bn available and net debt at SEK 9.7bn as of June 2025.