Sweden has proposed new financial targets for Vattenfall that would lower the state-owned energy company’s adjusted net debt to 22–27% from 22–30% previously.
The proposal also aims to remove the net debt/equity ratio, from 50–90% before and reduce the profitability target – return on capital employed – to 8% from 9%.
Vattenfall’s dividend should amount to 40–70% of profit after tax, compared with 40-60% previously.
The earlier targets were set in 2012 and Vattenfall said it had “shifted focus” to fossil free energy production since then.
The new targets will be decided at an extraordinary general meeting on 12 December, the company added.
Image: Vattenfall
Vattenfall rejigs finance goals
New targets reflect shift in focus away from fossil fuel generation
By EBS