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August 31, 2015 5:55 AM ET

Electric Utilities

Company Overview of Vattenfall AB

Company Overview

Vattenfall AB (publ) engages in the production, distribution, and sale of electricity and heat in Sweden, Germany, the Netherlands, and internationally. It generates electricity primarily through biomass, coal, hydro, natural gas, nuclear, and wind sources. The company is also involved in the sale of gas and energy trading activities. It has approximately 6.2 million electricity customers, 4.3 million electricity network customers, and 1.9 million gas customers. The company was founded in 1909 and is headquartered in Solna, Sweden.

Evenemangsgatan 13C

Solna,  169 56


Founded in 1909

28,977 Employees


46 87 39 50 00


46 8 17 85 06

Key Executives for Vattenfall AB

Chief Executive Officer and President
Age: 56
Chief Financial Officer, Deputy Chief Executive Officer and Head of Staff Function Finance
Age: 56
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: 58
Head of Region Continental/Uk, Senior Executive Vice President and Head of Business Area Heat and Mining & Generation
Age: 59
Compensation as of Fiscal Year 2015.

Vattenfall AB Key Developments

CEZ Eyes Vattenfall Assets

CEZ, a.s. (SEP:CEZ) intends to acquire lignite power plants in Germany and hydropower assets of Vattenfall AB, if they become part of the sale process. Martin Novak chief financial officer of CEZ, said CEZ was still interested in acquisitions, but the competition would be difficult and therefore shareholders could get back more from the company.

ScottishPower Renewables and Vattenfall Agree to Develop New Wind Farms Offshore UK

ScottishPower Renewables and Vattenfall have agreed to develop offshore windfarm projects within the East Anglia Zone in the UK. In particular, the two firms will primarily work on southern area of the East Anglia Offshore Wind projects, which have a potential capacity of up to 7.2GW. Each company will work on proposals for around 50% of the overall capacity. ScottishPower agreed to undertake projects in the southern parts of the East Anglia Zone while Vattenfall will be responsible for projects in the northern section. The decision comes on heels of the industry-wide changes agreed with the Crown Estate in the UK, which would result in signing of project specific agreements, replacing zone development agreements. The two companies are currently negotiating with the Crown Estate for additional projects in their respective portions of the zone. Vattenfall will also cooperate with ScottisPower for evaluation of common factors required necessary for project development in the zone, which will include sharing of offshore wind measuring equipment, zone wide survey data and other key interfaces.

Vattenfall AB Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Vattenfall AB reported earnings results for the second quarter and six months ended June 30, 2015. The company reported that loss attributable to owner of the parent company for the second quarter ended June 30, 2015 was SEK25 billion, or SEK 189.79 loss per share, compared to a loss attributable to owner of the parent company of SEK1.83 billion, or SEK 13.90 loss per share, for the same quarter ended June 30, 2014. Net sales for the second quarter ended June 30, 2015 were SEK 36.11 billion, compared to SEK 36.57 billion for the same quarter ended June 30, 2014. Loss attributable to owner of the parent company for the six months ended June 30, 2015 was SEK 20.32 billion, or SEK 154.27 loss per share, compared to a profit attributable to owner of the parent company of SEK 6.28 billion, or SEK 47.69 per share, for the same period ended June 30, 2014. Net sales for the six months ended June 30, 2015 were SEK 81.49 billion, compared to SEK 82.49 billion for the same period ended June 30, 2014.

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