July 30, 2014 10:07 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

30,544 Employees

Phone:

46 87 39 50 00

Fax:

46 8 17 85 06

Key Executives for Vattenfall AB

Chief Executive Officer and President
Age: 56
Deputy Chief Executive Officer
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
Age: 57
Compensation as of Fiscal Year 2014.

Vattenfall AB Key Developments

Vattenfall AB Announces Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Announces Electricity Results for the Second Quarter and Six Months Ended June 30, 2014; Reports Impairment Losses for the Second Quarter Ended June 30, 2014

Vattenfall AB announced consolidated earnings and electricity results for the second quarter and six months ended June 30, 2014. For the quarter, the company’s net sales amounted to SEK 36,575 million against SEK 38,308 million a year ago. Underlying operating profit amounted to SEK 4,086 million against SEK 5,399 million a year ago. Operating loss was SEK 1,637 million against SEK 25,842 million a year ago. Loss for the period (after tax) amounted to SEK 2,323 million against SEK 23,259 million a year ago. Net loss for the quarter attributable to owner of the parent company amounted to SEK 1.830 billion, a sharp decrease from SEK 23.707 billion a year earlier. Funds from operations were SEK 3,854 million compared with SEK 5,999 million for the same period in the last year. Net debt was SEK 85,872 million as on June 30, 2014 compared with SEK 104,249 million as on June 30, 2013. Cash flow from operating activities was SEK 8,333 million compared with SEK 11,474 million for the same period in the last year. The earnings decrease, which reflects the tough market conditions for the energy sector, is mainly attributable to average lower prices achieved, lower volumes and a lower earnings contribution from trading and gas sourcing. Profit was negatively affected by SEK 4.0 billion attributable to higher provisions primarily for future expenses for the decommissioning of nuclear power in Germany. Return on equity was 8.4%, compared to negative return on equity of 11.7% for the last year. For the six months, the company’s net sales were SEK 82,486 million against SEK 88,040 million a year ago. Underlying operating profit was SEK 13,163 million against SEK 17,055 million a year ago. Operating profit was SEK 10,197 million against operating loss of SEK 15,005 million a year ago. Profit for the period (after tax) amounted SEK 5,882 million against loss for the period (after tax) of SEK 17,064 million a year ago. Funds from operation were SEK 14,647 million compared with SEK 18,597 million for the same period in the last year. Cash flow from operating activities was SEK 15,821 million compared with SEK 16,234 million for the same period in the last year. Return on equity was 8.4%, compared to negative return on equity of 11.7% for the last year. For the quarter, the company’s electricity generation decreased by 5.0% to 39.7 TWh against 41.7 TWh a year ago, mainly as a result of lower nuclear power generation. For the six months, the company’s electricity generation decreased by 4.3% to 89.8 TWh against 93.9 TWh, mainly as a result of lower fossil-based power generation. For the quarter, the company’s impairment losses were SEK 670 million, compared to SEK 29,617 million a year ago.

Vattenfall AB, H1 2014 Earnings Call, Jul 23, 2014

Vattenfall AB, H1 2014 Earnings Call, Jul 23, 2014

Oystein Loseth to Leave Vattenfall AB as President and CEO, Effective from October 1, 2014

Statoil ASA announced Oystein Loseth was elected as new shareholder representative to the board. Since 2010, Loseth has been appointed as the CEO, and before that as a First Senior Executive vice president since 2009, of Vattenfall AB. Oystein Loseth election enters into effect from October 1, 2014, as he will from this date leave his position as President and CEO of Vattenfall AB.

Similar Private Companies By Industry

Company Name Region
Karlskoga Energi & Miljö AB Europe
Vattenfall AB Europe
Eurowind AB Europe
Enjo Gruppen Europe
Kalmar Energi Varme AB Europe

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
June 5, 2014
PICAB Produktion AB, Rimojokk Hydro Power Station
Merger/Acquisition
February 26, 2014
Vattenfall Europe PowerConsult GmbH
Merger/Acquisition
January 16, 2014
74.9% Stake in Vattenfall Stromnetz Hamburg GmbH and 100% Stake in Three Other Companies
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
NYC2012, Inc. United States
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
Rush University United States
Greater Houston Partnership United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact Vattenfall AB, please visit www.vattenfall.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.