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Performance indicators

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Financial and non-financial key performance indicators and targets

We monitor the implementation of our strategy by means of a holistic goal and performance management system. This system strengthens integrated thinking in our company. At the same time, it underpins our comprehensive and transparent focus on performance and stakeholders. Our goal system comprises the five dimensions of finance, strategy, customers and society, environment and employees. A number of specific targets have been defined in each goal dimension and their achievement is continuously measured using key performance indicators. Linked with this goal system and the centerpiece of our corporate management is the performance management system (PMS). Quantitative target values are currently set for the key performance indicators for the 2025 strategy horizon. The key performance indicators for the 2022 financial year were unchanged in comparison with the previous year with one exception: The ROCE was replaced by value spread as planned.

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Goal dimension finance


  • Securing our profitability. The adjusted EBITDA is the earnings before the investment and financial results, income taxes and amortization and adjusted for non-operating effects. Adjusted EBITDA is a key performance indicator for the finance goal dimension, while the key performance indicators for the strategy goal dimension, which describe the shares of adjusted EBITDA accounted for by the segments are derived from it.
  • Managing the financial profile. The key performance indicator debt repayment potential describes the retained cash flow in relation to net debt. The debt repayment potential measures the ability of EnBW to repay its debts from its current earnings potential. This performance indicator should enable us to achieve a controlled growth in earnings within the scope of our financial targets, while maintaining a solid investment-grade rating at the same time. To manage our financial profile, we regularly check whether the debt repayment potential complies with the latest requirements of the rating agencies.
  • Increasing the value of the company. The value spread measures the surplus return over the minimum return on capital employed before taxes in a reporting period. It is calculated by deducting the minimum return on capital employed before tax, defined by the weighted average cost of capital (WACC), from the return on capital employed before taxes that was actually achieved. Value spread replaced ROCE (return on capital employed) in 2022. It is a more meaningful indicator and is independent of external market influences, making it easier to manage and also improves the comparability of the data.

Goal
Key performance indicator
2022
Target for 2025
Goal
Secure profitability
Key performance indicator
Adjusted EBITDA
2022
€3.3 billion
Target for 2025
€3.2 billion
Goal
Managing the financial profile
Key performance indicator
Debt repayment potential
2022
23.4%
Target for 2025
≥ 12%0To achieve the unchanged goal of maintaining solid investment-grade ratings, EnBW regularly checks the target value for the debt repayment potential for managing its financial profile.
Goal
Increasing Group value
Key performance indicator
Value Spread
2022
1.1%
Target for 2025
0.5 - 1.5%
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Goal dimension strategy


Our EnBW 2025 strategy is increasingly placing the company’s focus onto the infrastructure aspects of existing energy-related business fields and utilizing our core expertise to exploit new growth opportunities above and beyond the energy sector.

Goal
Key performance indicator
2022
Target for 2025
Goal
Share of result accounted for by “Smart Infrastructure for Customers”
Key performance indicator
Share of overall adjusted EBITDA
2022
€0.5 billion/15.5%0The sum of the three segments does not correspond to the adjusted EBITDA for the EnBW Group. €-205.3 million (+9.6%) is attributable to Other/Consolidation in the 2022 financial year.
Target for 2025
€0.6 billion/20.0%
Goal
Share of result accounted for by “System Critical Infrastructure”
Key performance indicator
Share of overall adjusted EBITDA
2022
€1.0 billion/31.8%0The sum of the three segments does not correspond to the adjusted EBITDA for the EnBW Group. €-205.3 million (+9.6%) is attributable to Other/Consolidation in the 2022 financial year.
Target for 2025
€1.3 billion/40.0%
Goal
Share of result accounted for by “Sustainable Generation Infrastructure"
Key performance indicator
Share of overall adjusted EBITDA
2022
€2.0 billion/58.9%0The sum of the three segments does not correspond to the adjusted EBITDA for the EnBW Group. €-205.3 million (+9.6%) is attributable to Other/Consolidation in the 2022 financial year.
Target for 2025
€1.3 billion/40.0%
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Goal dimension customers and society


  • Improving our reputation. In view of the radical changes to the energy landscape, successful corporate growth as an energy company requires social acceptance. The Reputation Index reflects the diverse range of activities, influencing factors and assessments of a variety of stakeholder groups.
  • Customer proximity. The key performance indicator Customer Satisfaction Index is used to assess the satisfaction of our private end customers with whom we have a direct customer relationship. The information is compiled using comprehensive customer surveys about the brands EnBW and Yello conducted by an external service provider.
  • Supply reliability. Providing a reliable and safe supply of energy to our customers has the highest priority. SAIDI (System Average Interruption Duration Index) serves as the key performance indicator for supply reliability. It specifies the average length of supply interruption in the electricity distribution grid experienced annually by each connected customer. SAIDI includes all unscheduled interruptions to supply that last more than three minutes for the end consumer.
Goal
Key performance indicator
2022
Target for 2025
Goal
Reputation
Key performance indicator
Reputation Index
2022
58
Target for 2025
58 bis 62
Goal
Customer proximity
Key performance indicator
Customer Satisfaction Index EnBW
Customer Satisfaction Index Yello
2022
139
166
Target for 2025
125 bis 136
148 bis 159
Goal
Supply reliability
Key performance indicator
SAIDI (electricity) in min/year
2022
16.6
Target for 2025
< 20
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Goal dimension environment


  • Expand renewable energies (RE).The share of our generation capacity accounted for by renewable energies in 2025 is to be > 50%.
  • Climate protection. EnBW actively contributes to climate protection by successively reducing the CO₂ intensity of its own generation of electricity (excluding nuclear power) by 15 to 30% by 2025 compared to the reference year 20180The reference year is 2018 because the 2020 reporting year cannot be considered representative for the coming years (due to, among other things, market effects and the coronavirus pandemic)..
Goal
Key performance indicator
2022
Target for 2025
Goal
Expand Renewable Energies (RE)
Key performance indicator
Installed output of RE
Share of the generation capacity accounted for by RE
2022
5.4 GW
41.7%
Target for 2025
6.5 to 7.5 GW
> 50%
Goal
Climate protection
Key performance indicator
CO₂ intensity0The calculation for this performance indicator does not include nuclear generation and the share of positive redispatch that cannot be controlled by EnBW. If the share of positive redispatch that cannot be controlled by EnBW is taken into account, CO₂ intensity would be 508 g/kWh for the reporting year (previous year: 492 g/kWh). The CO₂ intensity including nuclear generation for the reporting year was 401 g/kWh (previous year: 386 g/kWh).
2022
491 g/kWh
Target for 2025
-15% – -30%
(reference year 2018)0The reference year is 2018 because the 2020 reporting year cannot be considered representative for the coming years (due to, among other things, market effects and the coronavirus pandemic).
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Goal dimension employees


  • Engagement of employees.The PEI expresses how engaged employees are in their work at EnBW. It is compiled at all companies with more than 100 employees (except for the Independent Transmission Operators [ITOs]) as part of an employee survey carried out by an external, independent service provider. It is determined based on the first question of the standardized list of questions “How happy are you working for the EnBW Group and the companies in the Group?” It is a question that uses a rating scale from 1 (I do not agree at all) to 5 (I agree completely). The value determined is then converted to a scale of 0 to 100.
  • Occupational safety. The LTIF indicates how many accidents at work led to at least one day of absence, based on one million hours worked. The calculation of the LTIF overall generally includes all companies with more than 100 employees. For the calculation of the LTIF for companies controlled by the Group, those companies engaged in the area of waste management are excluded because the number of accidents deviates significantly from that in the core business in the energy industry. External agency workers and contractors are not taken into account in either performance indicator. The number of accidents at work and the resulting days of absence should remain stable or fall.
Goal
Key performance indicator
2022
Target for 2025
Goal
Engagement of employees
Key performance indicator
People Engagement Index (PEI)0Variations in the group of consolidated companies (all companies with more than 100 employees are generally considered [except ITOs]). Companies that were fully consolidated for the first time in the fourth quarter of 2022 were not included in the employee surveys for the PEI.
2022
81
Target for 2025
77-830Due to the extraordinary effects relating to the coronavirus pandemic in the year this key performance indicator was introduced, we may need to adjust this target value during the strategy period.
Goal
Occupational safety
Key performance indicator
LTIF for companies controlled by the Group0Variations in the group of consolidated companies (all companies with more than 100 employees, excluding external agency workers and contractors, are considered).0Companies that were fully consolidated for the first time during the 2022 financial year were not included in the calculations for the LTIF performance indicators. Excluding companies in the area of waste management.
LTIF overall0Variations in the group of consolidated companies (all companies with more than 100 employees, excluding external agency workers and contractors, are considered).
2022
2.6
4.1
Target for 2025
2.1
3.5
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