Vattenfall makes substantial impairments and divides the company
Swedish utility Vattenfall splits up its organisation into a Nordic unit and a continental European unit. This is one of several measures taken in response to developments in the European energy market. Vattenfall is also writing down SEK 29.7 billion of the value of the company’s assets as a consequence of market development and higher business risks.
The write-downs carried out in the second quarter mainly concern:
- Gas and hard coal-fired power plants in the Netherlands: SEK 14.5 billion, (Nuon)
- Hard coal-fired power plants in Germany: SEK 4.1 billion,
- Combined heat and power plants in the Nordic region: SEK 2.5 billion,
- Goodwill originating mainly from our trading operations: SEK 6.8 billion,
- Other assets: SEK 1.8 billion.
Visit Vattenfall for more info: http://www.vattenfall.com/en/pressreleasedetailhidden.htm?newsid=ADED2242861F4983B25AD9BBD14EDFFB