In the first quarter 2016, EnBW achieved an adjusted EBITDA of 621 million euro (minus 14.7 percent). Temporary valuation effects from derivatives as of the reporting date had an impact on the operating result, this will be balanced out during the remainder of the year. The adjusted Group net profit attributable to the shareholders of EnBW AG was at around 104 million euro in the reporting period. Free cash flow decreased by 449 million euro to minus 178 million euro. The adjusted net debt increased by 11 percent to 7.57 billion euro. For 2016 the adjusted EBITDA at a Group level is expected to lie between -5 percent and -10 percent below the level achieved in 2015.