Vattenfall has reported a 52% fall in underlying operating profit at its wind business in the first quarter of 2023.
Underlying net profit was Skr2.3bn (€210m) in Q1 of 2023, compared to Skr4.89bn in the same period in 2022, driven by lower electricity prices in all regions.
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Net sales were down 21% to Skr6.29bn in Q1 2023 compared with Skr7.9bn in Q1 2022.
Electricity generation decreased slightly by 2%, whereas higher volumes for Hollandse Kust Zuid were offset by somewhat lower production in continental Europe.
The results were published in Vattenfall’s interim report for January-March 2023.