The net sales during the first quarter fell to 68 billion kronor, down from 76.5 billion during the corresponding quarter last year.
The operating result dropped to 8.4 billion, from 20.8 billion.
The decline is explained by Vattenfall having sold its heating business in Berlin and the Norfolk projects in the UK during the first quarter last year, according to CEO Anna Borg.
"Adjusted for non-recurring items and divestments, Vattenfall delivers a stable result. Lower volumes and significantly lower electricity prices in the Nordic region were compensated by positive contributions from Vattenfall's other European markets", she writes in a comment in the report.
The underlying operating result decreased to 8.5 billion kronor, down from 10.7 billion.
The quarter was characterized by lower electricity prices in the Nordic region, a strong hydrological balance, and increased production from wind power, according to Vattenfall. Warmer winter weather than usual also contributed to driving down electricity prices.
"The lower electricity prices in the Nordic region had a negative impact on Vattenfall's result", writes Vattenfall.
