Vattenfall reported a strong showing in its wind energy business last year with both underlying operating profit and net sales increasing, compared with 2017.
Underlying operating profit reached Skr3747m (€357m), up from Skr2137m last year, boosted by new capacity, higher power prices and foreign currency effects.
Net sales stood at Skr11,852m between 1 January and 31 December 2018, rising from Skr9438m in the previous 12 months.
Generation from wind reached 7.8 terrawatt-hours, up from 7.6TWh in 2017. Less favourable wind conditions were offset by the addition of new capacity, the company said.
Offshore output increased to 5.2TWh from 4.9TWh, but onshore generation fell to 2.6TWh from 2.7Twh.
In total, Vattenfall now has over 2842MW of wind capacity installed, up from 2769MW last year.
Offshore capacity is 1699MW, up from 1613MW, while onshore installations are 1143MW, down from 1156MW in 2017.
The company also plans to invest Skr24bn in wind power over the next two years.
Overall, Vattenfall operating profit fell to Skr19,883m last year from Skr23,203m in 2017.
It said that while power prices were high “risk management entails that we continuously hedge our electricity sales, this effect did not bear impact during the year”.