Vattenfall
Logotype for Vattenfall

Vattenfall (VF) investor relations material

Vattenfall has been private

Vattenfall Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Vattenfall
Q4 2025 earnings summary5 Feb, 2026

Executive summary

  • Final investment decisions made for Germany's largest offshore wind projects Nordlicht I & II, and significant progress on modular nuclear reactors with two suppliers and a 20% stake sale in Videberg Kraft AB to Industrikraft.

  • SEK 10.9 billion invested in Sweden's electricity grid to enhance supply security, with over 70% increase in grid investments since 2023.

  • Received top rating in the Climate Disclosure Project's annual ranking, affirming climate leadership.

  • Maintained financial stability and high investment pace due to a diversified business model and risk-spread portfolio.

  • Comprehensive SEK 165 billion investment plan for 2026–2030, with 56% allocated to growth, especially wind power and grid expansion.

Financial highlights

  • Underlying operating profit rose to SEK 30.9 billion from SEK 17.1 billion in 2024, driven by improved price hedges and nuclear results.

  • Profit for the period was SEK 19.7 billion, lower than 2024 due to one-off effects and temporary gains in the prior year.

  • Net sales decreased to SEK 234.9 billion from SEK 245.6 billion, mainly due to divestments and negative price effects.

  • Board proposes a dividend of SEK 8.0 billion.

  • EBITDA declined 19% to SEK 49.2 billion; cash flow from operating activities dropped to SEK 23.2 billion.

Outlook and guidance

  • Investment plan for 2026–2030 totals SEK 165 billion, with 56% allocated to growth, mainly in wind, new fossil-free generation, and grid expansion.

  • SEK 47 billion earmarked for Swedish grid investments over five years.

  • Focus remains on operational efficiency, cost control, and maintaining strong margins despite revenue volatility.

  • Optionality in project timing and investment decisions to adapt to changing market conditions.

  • Continued focus on fossil-free energy, new nuclear, and grid modernization.

Status of state aid for new nuclear power?
What offset underlying profit growth?
How will investments impact CO2 emissions target?
SMR viability without state risk-sharing model?
Offshore wind strategy given market slowdown?
German customer business margin recovery plan?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.

Next Vattenfall earnings date

Logotype for Vattenfall
Q1 202629 Apr, 2026
Vattenfall
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

Next Vattenfall earnings date

Logotype for Vattenfall
Q1 202629 Apr, 2026

The essential earnings season companion

The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

Vattenfall AB is a Swedish multinational power company specializing in the generation of electricity and the production of heat. Owned by the Swedish government, Vattenfall is one of Europe's largest producers of electricity and heat, focusing on generating power from various sources such as hydro, nuclear, coal, gas, solar, and wind. The company plays a significant role in the energy sector, with operations extending across Sweden, Germany, the Netherlands, and the United Kingdom, among other countries.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage