Vattenfall storms onward with billion-euro profit

A nuclear deal in Germany and wind sales in the Netherlands significantly boost the utility's bottom line, while both power sales and the customer business improve as well.

Photo: Vattenfall

After a 2020 in which record-low power prices and accompanying write-downs on Nordic wind assets brought Swedish utility Vattenfall to its knees, the company isn't much of a wounded beast now in 2021. Quite the contrary.

For the second quarter 2021, Vattenfall books a profit of SEK 13.2bn (EUR 1.3bn), miles ahead of the deficit booked for Q2 2020 of SEK 8.5bn. The solid result builds upon positive notes seen in Q1 2021, bringing Vattenfall to close its first half of 2021 with a profit of SEK 23.6bn.

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