Business development in the fiscal year 2016

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.

Teaser-integrated annual report 2016

Business development January to September 2016

In the first nine months of 2016, EnBW Energie Baden-Württemberg AG and its 20,217 employees achieved revenue of around 14.3 billion euro and an operating result (adjusted EBITDA) of 1.37 billion euro.

This represents a fall of around 16 percent compared to the previous year, which was primarily due to temporary effects in the area of power generation. These effects will be balanced out by the end of the year.

Therefore, EnBW has confirmed its forecast for the whole of the 2016 financial year and continues to expect an adjusted Group EBITDA of between 5 and 10 percent below the level in the previous year.

Quarterly Statement Q3 2016

Business development January to June 2016

In the first half of 2016, EnBW achieved an operating result (adjusted EBITDA) of 967.5 million euro.

This represents a fall of 24.2 percent compared to the previous year, which was however primarily due to temporary effects. These effects will be balanced out during the remainder of the year. EnBW is thus upholding its forecast for the whole of the 2016 financial year and expects an adjusted Group EBITDA of between 5 and 10 percent below the level in the previous year.

Six-Monthly Financial Report 2016

Development in the first quarter 2016

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.

Quarterly Statement Q1 2016
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