Swedish energy group Vattenfall reported higher underlying profits for the first nine months of 2025, supported by stronger price hedging on the continent and improved performance in its trading and nuclear power operations.
The company posted a net profit of €1.205 billion (SEK 13.097 billion) for January to September, down from €2.603 billion (SEK 28.296 billion) a year earlier. Last year’s figure included one-off effects of SEK 19.5 billion from sold projects and changes in the market value of energy derivatives.
Underlying operating profit rose to €1.975 billion (SEK 21.470 billion) from €1.484 billion (SEK 16.137 billion) in the same period last year, reflecting stronger operational performance.
For the third quarter, Vattenfall reported a profit of €0.209 billion (SEK 2.269 billion), up from €0.189 billion (SEK 2.053 billion) in the prior-year period. Underlying operating profit for July–September increased sharply to €0.566 billion (SEK 6.154 billion) from €0.128 billion (SEK 1.387 billion).
Vattenfall said the improved results were driven by higher hedged electricity prices in continental Europe, as well as better outcomes in its trading and nuclear segments.
The company said it continues to advance investments in fossil-free energy production. “We are taking decisive steps in wind and nuclear to enable new fossil-free electricity production,” Vattenfall said in a statement.
Vattenfall, which is wholly owned by the Swedish state, is among Europe’s largest energy producers and has been expanding its renewable and nuclear portfolios as part of its long-term strategy to support the continent’s energy transition.
