Vattenfall AB - Company Profile
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Business Description
Vattenfall AB (Vattenfall) produces and retails electricity and heat. It also carries out the sale of gas and energy trading. The company generates electricity from hydro, nuclear, solar, biomass, wind, waste, coal and natural gas. It generated 99.6 TWh of electricity. Vattenfall serves around 12.7 million customers in distribution, electricity, gas, heat, and energy solutions.
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R&D Overview
Vattenfall's research and development initiatives focus on driving innovation across four key areas: sustainability, flexibility, digitalisation, and energy systems. The company is committed to addressing environmental challenges, enhancing energy system adaptability, advancing digital technologies, and innovating in energy systems to create a sustainable and reliable energy future. Specific projects include guiding fish with cellulose foam rods, developing hydrogen storage solutions, creating a digital model of the Juktan hydropower plant, and expanding energy systems sustainably in Uppsala. The research and development units of Vattenfall includes a department focusing on the digitalisation of the energy system and a specialised facility in Alvkarleby for verification and experimental activities. These units are responsible for exploring new opportunities in the evolving energy landscape and engaging in high-innovation projects to develop solutions that are proven in the lab or field. In FY2024, the company spent SEK492 million in R&D, which as a percentage of revenue stood at 0.2% and grew 6% YoY.
Business Segments
Overview
Supplies electricity, gas and energy solutions to retail and business customers. Its major operating subsidiary is Feenstra N.V. It focuses on optimizing the profitability of the commodity sales business by growing customer base through reducing the cost to serve. Also, strives to optimize the customer experience by accelerating digitalization and offering integrated and climate smarter solutions. Its key focus areas include decentralized energy solutions, smart data-based solutions and new customer interaction models.
Performance
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Overview
Owns and operates electricity distribution networks in Sweden and Berlin, Germany. Continue with investments to improve the availability and quality of supply, improve customer satisfaction, and accommodate renewable energy sources.
Performance
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Overview
Generates electricity through hydro and weather-independent nuclear power plants. The segment is one of the largest providers of fossil-free electricity in Europe. It includes and nuclear power operations, optimization and trading operations. Intends to become a market leader in services and maintenance of Nordic power grids; become a leading provider of renewable energy to business customers across Europe and build up power purchase agreements; and improve asset optimisation using digital technology and drive cost efficiency through process automation. Also, focuses on performing efficient dismantling of decommissioned nuclear power plants.
Performance
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Overview
Focus on the wind power operations of the company. It is a major offshore wind power company and also one of the leading companies in onshore wind power in the UK and the Netherlands. The segment views renewable power generation as the major step to reduce CO2 emissions.
Performance
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Overview
It comprises of staff functions and shared service centers.
Performance
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Geographical Segments
Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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