Vattenfall saw a decline in net sales and underlying operating profit in 2024, reflecting market challenges. In the final quarter of the year, net sales and underlying operating profit fell compared to the same period in 2023.
Despite this, the company remained profitable, with an operating profit of SEK 5,023 million and a net profit of SEK 5,084 million. The Board of Directors has proposed a dividend of SEK 7 billion.
Vattenfall adjusted its offshore wind portfolio with the sale of the Norfolk Offshore Wind Zone in the UK, allowing it to reallocate resources to other projects. In Germany, it strengthened its partnership with BASF by selling a 49% stake in the Nordlicht I and II offshore wind farms, supporting corporate investment in renewables. In the Netherlands, the company, together with Copenhagen Infrastructure Partners, secured the tender for the IJmuiden Ver Beta (Zeevonk) offshore wind project, expanding its presence in the Dutch market.
The company also completed the sale of its heat business in Germany to the State of Berlin, focusing more on its core energy operations. In Sweden, Vattenfall decided to extend the operational lifetime of the Forsmark and Ringhals nuclear reactors from 60 to 80 years to maintain long-term energy stability. Plans for new nuclear energy at Ringhals progressed, with evaluations of potential suppliers and investment conditions.
While financial results reflected short-term pressures, the company remains committed to offshore wind, nuclear energy, and partnerships in key European markets.
