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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.

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