Vattenfall (VF) Corporate factbook presentation summary

Group overview and strategy

• Operates as an integrated utility across generation, distribution, sales, services, and trading, with 7.4 million electricity customers and 0.5 million heat customers in core European markets.

• Committed to fossil-free competitiveness, with a business model enabling sustainability and profitable growth.

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

• Strategic focus on decarbonisation, fossil-free energy supply, employee engagement, and high-performing operations.

• Achieved significant CO2 emission reductions, targeting net zero by 2040 and 65% total emission reduction by 2030.

Operating segments and performance

• Four main segments: Customers & Solutions, Power Generation, Wind, and Distribution, each with distinct earnings drivers and stable or growing contributions.

• Power Generation is the largest by volume, with 5.7 GW nuclear and 11.8 GW hydro capacity, and a leading position in fossil-free electricity.

• Wind segment generated 17.3 TWh from 7.1 GW operated capacity, with a robust pipeline and innovative solar/battery projects.

• Distribution segment is the largest operator of regional grids in Sweden, distributing over 50% of the country's electricity.

Financial highlights and investment

• Underlying return on capital employed reached 10.2% in 2025, exceeding the ≥8% target.

• Funds from operations/adjusted net debt at 53.4%, well above the ≥25% target.

• Proposed dividend of SEK 8 billion for 2025.

• Net capex plan of SEK 165 billion for 2026–2030, with 56% allocated to growth, mainly in wind and electricity distribution.

• Major projects include Nordlicht I & II offshore wind farms and significant investments in e-mobility and heat infrastructure.