Vattenfall records 6% decline in H1 wind operating profit
- Admin
- Jul 21, 2024
- 1 min read
The wind segment of Vattenfall AB saw a 6% decline in underlying operating profit in the first half of 2024 despite a 34% increase in electricity generation. This decline was attributed to lower electricity prices, higher costs, and depreciation, offset by new wind farms and subsidies. Net sales were down 5%, with a 3% decline in the second quarter. Vattenfall reported a satisfactory result with a 23% increase in underlying operating profit, reaching SEK 17.9 billion, aided by price hedging and increased generation. The company is focusing on streamlining initiatives for profitability.
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