Vattenfall presents its financial report for the first quarter 2009
- By Abby Gessner -
Even with nuclear capacity trimmed, Vattenfall’s market conditions have helped to bolster the company’s profitably.
“Against the background of the economic crisis and the weaker market situation, plus the fact that two of our nuclear power plants are still off line, I am very satisfied with our earnings,” says Vattenfall’s CEO Lars G. Josefsson.
Net sales rose 15.7% to SEK 52,528 million (45,404). Operating profit rose 12.6% to SEK 12,860 million (11,426). Profit for the period (after tax) increased by 12.6% to SEK 8,091 million (7,184).
Consolidated net sales rose 15.7% to SEK 52,528 million (45,404). Excluding currency effects of approximately SEK 4,800 million, the increase was 5.2%. Operating profit rose 12.6% to SEK 12,860 million (11,426). Excluding currency effects of approximately SEK 930 million, the increase was 4.4%. The earnings improvement is mainly attributable to higher prices achieved for hedged electricity generation.
Vattenfall discloses the information provided herein pursuant to the Swedish Securities Market Act.
The entire report is available at www.vattenfall.com (select “Investors” -> “Financial Reports”).
Commencing at 10:00 (CET) Lars G. Josefsson, CEO, and Dag Andresen, CFO, will host a conference call presenting the results, followed by a Question & Answer session. The conference call will be webcast.
Details regarding the Conference Call
To participate in the Conference Call please dial one of the following numbers a few minutes before 10:00 CET. +44 (0) 20 7107 0611 (UK) +46 (0) 8 5069 2105 (Sweden) +45 80 883 140 (Denmark) +33 (0) 1 7070 0543 (France) +49 (0) 69 2 22220593 (Germany)
Replay: A recorded version of the conference call will be available one hour after the conference call for a further 72 hours. To request the replay please dial +44 207 108 6233 (number in UK) and enter the code 14048#.
Webcast - To follow Vattenfall’s presentation on the Internet (audio and slides), please click on the link “webcast” which will be displayed on www.vattenfall.com. Please note that you will need “Real Player” or “Windows Media Player” to follow the presentations.
Vattenfall's vision is to be a leading European energy company. Vattenfall's main products are electricity and heat. Today, Vattenfall generates electricity, produces heat and supplies energy to several million customers in the Nordic countries and northern Europe. The major customers are industrial plants, energy companies, municipalities, property companies and housing associations. For further information, please see www.vattenfall.com. The media service section, including a picture archive and Vattenfall's press releases, can be found under News & Comments.