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May 05, 2015 4:36 PM ET

Electric Utilities

Company Overview of Vattenfall AB

Company Overview

Vattenfall AB is engaged in the production, distribution, and sale of electricity and heat in Sweden, Germany, the Netherlands, and internationally. It operates in two segments, Generation, and Distribution and Sales. The company generates electricity primarily through lignite, hard coal, biomass, natural gas, nuclear, hydro, and wind resources. It is also involved in the sale of gas and energy trading. The company was founded in 1909 and is headquartered in Solna, Sweden.

Evenemangsgatan 13C

Solna,  169 56

Sweden

Founded in 1909

29,341 Employees

Phone:

46 87 39 50 00

Fax:

46 8 17 85 06

Key Executives for Vattenfall AB

Chief Executive Officer and President
Age: 55
Chief Financial Officer, Deputy Chief Executive Officer and Head of Staff Function Finance
Age: 55
Country Manager of Netherlands and Chief Executive Officer of N V Nuon Energy
Age: 50
Treasurer and Chief Executive Officer of Vattenfall Treasury AB
Senior Vice President, Head of Staff Function Legal & Chief Executive Officer Office, General Counsel and Secretary to the Board
Age: 57
Compensation as of Fiscal Year 2014.

Vattenfall AB Key Developments

Vattenfall Announces Job Cuts

Vattenfall announced that it would cut a thousand jobs as its quarterly profits plunged by nearly a half compared to last year. The group, which is seeking to close coal fired plants in Germany, has had seen two consecutive years of losses caused partly by substantial write down charges.

Vattenfall AB Reports Earnings and Operating Results for the First Quarter Ended March 2015

Vattenfall AB reported earnings and operating results for the first quarter ended March 2015. For the quarter, the company's net sales were SEK 45,377 million compared to SEK 45,912 million a year ago. Underlying operating profit was SEK 7,736 million compared to SEK 9,075 million a year ago. Operating profit was SEK 8,386 million compared to SEK 11,832 million a year ago. Profit after tax for the period was SEK 4,987 million compared to SEK 8,205 million a year ago. Lower production volumes and continued falling electricity prices had a negative effect on company’s earnings during the first quarter. For the quarter, electricity generation was 46.4 TWh compared to 50.1 TWh a year ago.

Vattenfall To Divest German Coal Power Activities

Vattenfall AB is planning to divest coal power activities in Germany. Vattenfall Chief Executive Officer Magnus Hall says that environmental aspects of coal power is the concern of the German government and not the company itself once the activities have been divested. He adds that the company hopes to present a potential buyer before the end of 2015.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
February 26, 2015
East Anglia One Limited
Merger/Acquisition
December 19, 2014
Vattenfall AB., Fyn Power Station Including a Waste Incineration Plant
Merger/Acquisition
December 18, 2014
Thanet Offshore Wind Limited
 

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