In the January-March 2024 interim report, Vattenfall shared its financial and business highlights. Financially, there was a 21% decrease in net sales, amounting to SEK 76,499 million.
However, there was a positive shift in underlying operating profit, which increased by 45% to SEK 13,884 million. Operating profit also rose by 27% to SEK 20,755 million, and profit for the period increased by 43% to SEK 16,879 million.
In terms of business activities, Vattenfall completed the sale of the Norfolk Offshore Wind Zone in the UK, resulting in a capital gain of SEK 4.6 billion. Additionally, the offshore wind farm Vesterhav Nord in Denmark was successfully completed.
Vattenfall also made strides in sustainability by signing a long-term hydropower purchase agreement with Borealis to reduce carbon dioxide emissions. A feasibility study on new nuclear projects showed promising prospects for building new nuclear facilities at Ringhals.
Furthermore, Vattenfall expanded its renewable energy portfolio by securing new long-term Power Purchase Agreements for solar projects in Germany. Additionally, the company initiated work on connecting SSAB's electric arc furnace in Oxelösund to the electricity grid, in line with its sustainability goals.
