This means we have met our 2020 earnings target of €2.4 billion, which we set back in 2013, one year ahead of plan.
We succeeded in delivering operating earnings within our guidance range in all business segments.
EnBW continued its successful performance with an operating result (adjusted EBITDA) of €1.69 billion in the first nine months of 2019. Adjusted EBITDA was thus 7.4% up on the previous year (€1.57 billion). Revenue came to €14.37 billion (down 3.2%).
The number of employees rose to 22,934, an increase of 6.7 percent on the previous year. Adjusted EBITDA for the 2019 financial year is expected to be in a range between €2.35 billion and €2.5 billion.
EnBW continued its positive earnings performance in the first half of 2019. With a workforce of 22,488, the company generated revenue of some 11.53 billion euros and an operating result (adjusted EBITDA) of some 1.28 billion euros in the first six months of the year. This marks a rise of 11.8% year-on-year (H1 2018: approximately 1.14 billion euros).
EnBW has made a good start to the new 2019 financial year. With a workforce of 21,773, the company generated revenue of some 6.67 billion euros and an operating result (adjusted EBITDA) of some 723 million euros in the first quarter of 2019.
This marks a rise of 5.3% year-on-year (Q1 2018: approximately 687 million euros). The increase in earnings is mainly due to the good performance of the Grids and the Renewable Energies segments. EnBW has confirmed its earnings guidance for the full year 2019. Adjusted EBITDA for the 2019 financial year is expected to be in a range between 2.35 and 2.5 billion euros, which is 9% to 16% percent above the previous year.