In an extraordinary general meeting, new financial targets were established for Vattenfall. The company also presented its new sustainability targets. For example renewable energy growth rates should be higher than the market.
The following new financial targets were established:
Profitability target:
Capital structure: Vattenfall is to have two targets for its capital structure.
Dividend policy:
“We consider the new targets to be consistent with current market conditions and feel comfortable that we will be able to steer our operations in accordance with them,” says Vattenfall’s Chairman of the Board Lars G. Nordström .
During the meeting the Articles of Association were also altered so that Vattenfall now has its registered office in Solna and general meetings can be held in Solna or Stockholm.
The following new sustainability targets were presented at the meeting. These targets are based on the owner’s, the Swedish state’s, guidelines and are related to the EU’s 20/20/20 targets.
“To achieve the sustainability targets we will increase the growth rate within renewable energy. An increased capacity for power transmission between markets is also necessary,” says Vattenfall’s CEO Øystein Løseth .
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Press release, November 28, 2012; Image: Vattenfall