Vattenfall's owner, the Swedish state, announces new proposed financial targets for the company. The new targets will be decided at an extraordinary general meeting on 12 December 2017.
Vattenfall’s financial targets relate to profitability, capital structure and the dividend policy, intending to ensure value creation and a market rate of return. The current targets were set in November 2012.
The energy sector transformation has continued since 2012, whilst electricity prices have remained at historically low levels. Vattenfall has moreover shifted focus to fossil free energy production, in line with the new company strategy to power climate smarter living and becoming fossil free within one generation.
The proposal for new financial targets (current targets within brackets):
FFO/adjusted net debt of 22–27 per cent (22-30).
Net debt/equity ratio is removed (50-90 per cent).
Return on capital employed of 8 per cent (9).
Dividend policy :
The dividend should amount to 40–70 per cent of profit after tax (40-60).
For further information, please contact:
From Vattenfall’s Press Office
Telephone: +46 8 739 50 10
e-mail: [email protected]
This information is such that Vattenfall is required to make public in accordance with the EU Market Abuse Regulation and/or the Swedish Securities Market Act. The information was submitted for publication, by the agency of the contact persons above, at 06.00 CET on 20 November 2017.
Vattenfall is a Swedish, state owned energy company with around 20,000 employees with operations in Sweden, Germany, the Netherlands, Denmark, UK and Finland. Vattenfall focuses on growth in business areas that drive the transition to a renewable energy system and has the objective to become leading in sustainable energy production and thereby secure a reliable and cost effective energy supply.
Powered by WPeMatico