Vattenfall declines on revenue but increases on wind

Swedish energy giant Vattenfall has had a tough start to 2017. The company's bottom line has almost halved in relation to the same period last year, which saw significant divestments.

"No news is good news" is perhaps an apt proverb when reading the latest annual report from Swedish energy giant Vattenfall. The company has announced that it is developing as anticipated, despite stagnating revenue and a sizeable decline on the bottom line.

Vattenfall's revenue fell by four percent to SEK 40 billion (EUR 4.5 billion), against SEK 41.6 billion in the same quarter the year prior. However, the development on the bottom line is significantly more dramatic, where EBITDA declined from SEK 10.2 billion to SEK 6 billion. Looking at the results from a net profit standpoint, Vattenfall declined from SEK 6.8 billion to SEK 3.8 billion.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

WindEurope warns against negative auction bids

If more countries introduce negative bids, where firms pay to establish wind projects, it could lead to higher electricity bills or more pressure on the supply chain, says the industry association.

BW Offshore halved bottom line in Q1

The Norwegian firm reports decline in several items compared to the same quarter of 2021 but predicts fine advancement in the rest of 2022, for which both floating wind projects and high energy prices show promise.

Equinor exits Russia

Norwegian oil company Equinor has taken its final step out of the Russian market by transferring joint venture assets to Rosneft.

Further reading

Related articles

Latest News

See all jobs