Business development in the fiscal year 2016

Stuttgart. EnBW Energie Baden-Württemberg AG sees itself at a turning point in terms of earnings in the current financial year. In 2017, the objective is to halt the fall in earnings experienced since 2011 or even to achieve a slight increase in the operating result (adjusted EBITDA) once again. It was a challenging year for the company in 2016 due to persistently low electricity prices and due to the upcoming, and already fully incorporated in the annual financial statements 2016, payment of 4.7 billion euro to the funds under public law for the phasing out of nuclear power. EnBW CEO Frank Mastiaux: “Despite having to cope with extraordinarily high negative effects in 2016, we are able to say: Our resolute and profound restructuring process is paying off, both in terms of efficiency and growth. Grids, Renewable Energies and Sales already account for 80 percent of the operating result (adjusted EBITDA). We are now focussing all our efforts on turning our earnings trend into a positive one from 2017 onwards. Major projects such as the Hohe See offshore wind farm demonstrate that our investments clearly focus on the future and despite the deteriorating conditions we are still on course for 2020.”