Objectives

  • Payment obligations can be fulfilled without restriction at any time
  • Balanced financing structure
  • Solid balance sheet ratios
  • Solid investment-grade ratings
  • Strategic integration of financial discipline to maintain a good creditworthiness

Key Performance Indicators that we use to manage our credit standing

Until end of 2020: Internal financing capability

0 %

Financing capability of the Group from its own funds during the portfolio transformation

Retained Cashflow¹ / cash-relevant net investments

¹ Retained Cashflow after covering ongoing costs and dividend payments

2021 to 2025: Debt repayment potential

0

Controlled growth during the further development into an infrastructure partner

Retained Cashflow / Nettoschulden

² To ensure achievement of rating target, the target value will be examined annually based on the requirements of the rating agencies

Ratings

Financing strategy

Covering operating financing needs

Programme
Wert
Programme
Wert
€ 7 billion thereof € 3.7 billion utilised¹,²
Programme
Subordinated bonds
Wert
€ 3.5 billion¹,²
Programme
Wert
€ 2 billion thereof € 0.1 billion utilised¹,²
Programme
Syndicated credit line
Wert
€ 1.5 billion, undrawn; Maturity date: 2025¹,³
Programme
Bilateral free credit lines
Wert
€ 1.2 billion thereof € 0.4 billion drawn¹,²

¹Rounded figures

²as of 19 October 2020

³as of 30 September 2020

Overview of EnBW’s bonds

Maturities of EnBW’s bonds

Coverage of pension and nuclear obligations

Programme
Wert
Programme
Wert
€ 7 billion thereof € 3.7 billion utilised¹,²
Programme
Subordinated bonds
Wert
€ 3.5 billion¹,²
Programme
Wert
€ 2 billion thereof € 0.1 billion utilised¹,²
Programme
Syndicated credit line
Wert
€ 1.5 billion, undrawn; Maturity date: 2025¹,³
Programme
Bilateral free credit lines
Wert
€ 1.2 billion thereof € 0.4 billion drawn¹,²

¹Rounded figures

²as of 19 October 2020

³as of 30 September 2020

Overview of EnBW’s bonds

Maturities of EnBW’s bonds

Group strategy

EnBW at a glance: Realignment & growth

Following the successful portfolio transformation, EnBW is now on the way to becoming a key infrastructure partner

Climate neutrality by 2035

timeline climate neutrality by 2035
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