Our 2020 goals
We support our 2020 strategy with a holistic goal and performance management system. We use this system to strengthen the understanding within the Group for the interdependencies between our company results and to offer our stakeholders a transparent and comprehensive overview of the performance of our company. Since 2013, corporate management has been continually expanded through the addition of non-financial and strategic goals to now also encompass the strategy, customers and society, employees and environment dimensions. These indicators are used to measure the degree to which our goals are achieved and to guide the management of our company.


Key performance indicator
Target in 2020
Further information
Secure profitability
Adjusted EBITDA in € billion
The operating result is to return to the average level achieved before the Energiewende. The total regulated business (Grids and Renewable Energies segments) together contributes around 70% to this result.
High level of financial discipline
Internal financing capability in %
≥ 100
The level of net financial liabilities is controlled by limiting net investment to the level of retained cash flow II. The Group can thus finance its own restructuring internally.
Increasing Group value
ROCE in %
Return on capital employed (ROCE) is higher than the cost of capital. EnBW is creating value for its stakeholders.

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