Investor Relations – Contacts
FAQ: Your questions, our answers!
Finance and strategy
In the period from 2024 to 2030, we plan to invest a total of around €40 billion. 60% of this is attributable to the expansion of the electricity grids in the segment System Critical Infrastructure and around 30% of the total will be invested in the construction of wind farms, solar parks and hydrogen-ready power plants in the segment Sustainable Generation Infrastructure. Most of the remaining 10% will go on the expansion of electromobility in the segment Smart Infrastructure for Customers. The vast majority of investments will be made in Germany, with around 10% in our other markets abroad. Consequently, our goal for taxonomy-aligned investments is ≥ 85%.
We will propose to the Annual General Meeting on 8 May that a dividend of €1.60 per share entitled to dividends be distributed from the net profit of EnBW AG. The dividend payment date is 13 May 2025.
Retail investors can purchase EnBW's senior bonds.As EnBW does not issue a Key Information Document, private investors are not able to acquire subordinated bonds.
EnBW is rated by Moody's and Standard & Poor's: 'Baa1/stable' by Moody’s and 'A-/stable' by Standard & Poor’s. EnBW continues to have one of the strongest credit ratings among integrated energy supply companies in Europe.
EnBW aims to maintain solid investment grade ratings.
EnBW's key performance indicator for this purpose is debt repayment potential. This is the ratio of retained cash flow to net debt. EnBW uses this key performance indicator to measure its ability to meet its payment obligations from current earnings.
By ensuring compliance with the quantitative requirements of the rating agencies for EnBW's financial profile, EnBW aims to achieve controlled earnings growth in line with its targets while at the same time safeguarding solid investment grade ratings. For this reason, EnBW regularly checks that the target value for the debt repayment potential is in line with the current requirements of Moody's and S&P. The current target value for the debt repayment potential is ≥ 15.
Since 2018, we have successfully issued several green bonds on the capital market with a total volume of around €8.3 billion (as of 31.12.2024). In accordance with our Green Financing Framework, the proceeds will be exclusively used in the areas of renewable energies and clean transport. Activities under the banner of renewable energies include the product categories offshore wind, onshore wind, photovoltaics, electricity distribution grids, smart meter and, as of the middle of 2024, electricity transmission grids and hydropower. Clean transport covers investment in the charging infrastructure for electromobility. We provide detailed information on the allocationof the funds regularly in our Green Bond Impact Report.
These include the Debt Issuance Programme (abbreviated DIP, through which bonds are issued), subordinated bonds, private placements, promissory notes, commercial paper programs, credit lines and bank loans.
Further informations about our emission programmes can be found here.
More details on the financing instruments can be found here.
ESG
EnBW aims for a 70% reduction in emissions by 2030 and climate neutrality with regard to our own emissions (Scope 1 and 2) by 2035 at the latest. In 2024, the carbon intensity of our own electricity generation decreased by 15% compared to the previous year to 272/kWh. To reach our goal of climate neutrality by 2035, EnBW invests significantly to accelerate the expansion of renewable energies and the grids. At the same time, we are maintaining grid stability and the security of supply. We take sustainability criteria into account in all investment decisions.
EnBW is planning to gradually phase-out of coal by 2028, provided that the framework conditions set by the German government allow this. Compliance with our climate protection targets confirmed by SBTi is a top priority here.
Currently, EnBW has 6.6 GW of renewable generation capacity, representing approx. 59% of the total generation capacity (as of 31 December 2024). Our goal is generation capacity of 6.5 – 7.5 GW by 2025 and 10 – 11.5 GW by 2030.
In 2024, the share of coal in total revenue was 4%. Coal accounted for 23% of the total installed capacity (31 December 2024). The generation capacity of our remaining coal-fired power plants is 3.1 GW (31 December 2024).
In March 2023, we published our climate protection targets confirmed by the Science Based Targets initiative (SBTi). We aim to follow a 1.5 degree-aligned path for scope 1 and 2 emissions and a well below 2 degree-aligned path for scope 3 emissions.
Taxonomy-aligned investments accounted for 89% of the total in 2024.
The Sustainable Development Goals (SDGs) define the global framework for sustainable development. As a sustainable and innovative infrastructure partner, we aim to contribute to the achievement of these goals through our activities
while also creating value for our stakeholders. Specifically, we make a contribution to four key SDGs:
- SDG 7: Affordable and clean energy
- SDG 9: Industry, innovation and infrastructure
- SDG 11: Sustainable cities and communities
- SDG 13: Climate action
These four central SDGs each have at least one key performance indicator assigned to them, based on which we measure progress towards our corporate targets.