Vattenfall - 2000

Annual Report 2000

Summary

In 2000, Vattenfall took the first step towards expansion in northern Europe – outside the Nordic countries – with its acquisition of a majority stake in Elektrocieplownie Warszawskie (EW) which supplies electricity and heat in Warsaw and a minority stake connected to a partnership in the energy company, Hamburgische Electricitäts-Werke (HEW) in Hamburg. Vattenfall will become a majority owner of HEW in 2001. In August, HEW signed an agreement for further acquisitions in Bewag, which will give HEW a majority shareholding in the company. In December 2000, HEW signed an agreement to acquire a majority shareholding in VEAG Vereinigte Energiewerke AG (Veag) and Lausitzer Braunkohle AG (Laubag). In February 2001, Vattenfall acquired a minority stake in Gornoslaski Zaklad Elektroenergetyczny (GZE) with an option to become a majority owner within two years. These acquisitions will make Vattenfall one of the largest power companies in Europe, with an electricity output of over160 TWh and electricity sales of just over 180 TWh per year, compared with – in both cases – just over 80 TWh in 2000. The Vattenfall Group will have 6.5 million customers.

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Annual Report, 2000 (PDF 3038 kb)

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Vattenfall 2000:

• Net sales, SEK 31.7 million (27.8)
• Profit before tax and minority interests, SEK 5.2 million (4.3)
• The return on capital employed, 9.7 per cent (9.3)