More customers and billions from Berlin: How Vattenfall is getting through the crisis

The fact that Vattenfall sees the energy crisis as a sales opportunity can be observed every day on Germany’s popular comparison portals. While other majors such as Eon or Stadtwerke München have reduced their sales to new customers or even suspended them altogether, the Swedish group has consistently ranked among the top places on Verivox and Check 24 in recent weeks – nationwide.

“Of course we also weighed up the risks,” said Jens Osterloh, Vattenfall’s marketing manager on the European market, in a recent interview with ZfK. However, the group regularly secures the required amounts of electricity over a longer period of time and combines this with short-term campaign procurements. “We are therefore well-armed against price fluctuations. That’s why it was clear to us that we also see this as an opportunity for us at the moment.”

Sales: Vattenfall increases profit

The group has now presented its business figures for the past year. Accordingly, he recorded customer growth of 3.7 percent in all markets. According to the annual report, Vattenfall had a total of 10.5 million contracts at the end of 2021. Despite sharply increased procurement prices, especially in Central Europe, Sales also increased its profit from the equivalent of EUR 297 million to EUR 310 million.

The report does not show how the figures for the German market are presented. But one thing is certain: simply because of the delivery stop by the provider Stromio in December, Vattenfall took on around 74,000 consumers in its basic supply areas of Berlin and Hamburg.

One-off effects in Germany

Overall, Vattenfall has had an “extraordinarily strong” financial year, summed up Vattenfall boss Anna Borg. The profit rose to the equivalent of around 4.6 billion euros. In the previous year it was only 0.7 billion euros.

The Group grew significantly, primarily due to one-off effects in the German market. The agreement with the German federal government on compensation payments for the decommissioning of nuclear power plants flushed the equivalent of 1.1 billion euros into the coffers. The sale of the power grid to the state of Berlin brought another 2.1 billion euros.

Focus on renewable energy

Vattenfall boss Borg assumes that electricity and gas prices will most likely continue in the short term. Despite the turbulent situation on the market, the group is sticking to its strategy with a clear focus on renewable energies. (aba/dpa)

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