What is EnBW’s ownership structure?

NECKARPRI-Beteiligungsgesellschaft mbH and Zweckverband Oberschwäbische Elektrizitätswerke (OEW) each hold 46.75% of the shares in EnBW. Municipal shareholders’ associations in Baden-Württemberg hold around 4%. EnBW holds a further 2.08% as treasury shares. The free float of EnBW shares is small at 0.39 percent. (Information as of 30 September 2022). More information Share price | EnBW

What is EnBW’s financing strategy?

EnBW manages its operating funding needs separately from the coverage of Group pension and nuclear energy obligations. In addition to our internal financing capacity, we have the following financing instruments at our disposal to meet our operational funding needs: Debt issuance programmes, subordinated bonds, commercial paper programme, a sustainable syndicated credit line and committed bilateral credit facilities. Long-term pension and nuclear energy obligations are covered via EnBW’s asset liability management model. More information: Financial strategy | EnBW

What sustainable finance instruments does EnBW use?

We have launched several green bond issues (€3.5 billion) since 2018. In line with our Green Financing Framework, the proceeds went to renewable energy projects, energy efficiency projects and clean transportation. Our syndicated credit facility (€1.5 billion) has been sustainable since 2020, with the borrowing costs linked to EnBW’s sustainability performance via three selected sustainability indicators. More information: Sustainable finance | EnBW

Does EnBW have science-based targets and are these climate protection goals already scientifically certified?

In October 2021, we committed to developing science-based targets by joining the Science Based Targets Initiative (SBTi). We are thus expanding our climate neutrality target for Scopes 1 and 2 by including a target for emissions category (Scope) 3. The commitment to SBTi concretizes our climate neutrality target. It enables us to check the conformity of our entire value chain with the targets of the Paris Climate Agreement in our decision-making processes. Our committment is published on SBTi’s website Companies taking action - Science Based Targets .

Capital increase 2025

Here you can find more information on our Capital increase 2025.

Further information

Figures 6M 2025

Further information

Adjusted EBITDA

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Adjusted Group net profit

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Retained cash flow

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Net debt

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We are in a phase of unprecedently high investment, with over €3 bn invested in the first six months of 2025 alone. We are planning to invest up to €50 bn by 2030. This results in an above-average need for capital. Our €3.1 billion capital increase gives us greater financial headroom in all business areas and enables us to successfully secure and expand our market position in key growth segments.
Thomas Kusterer, Deputy CEO and CFO

Interview with Thomas Kusterer (Deputy CEO and CFO) on the half-year figures 6M 2025

Downloads

Further documents can be found in our downloadcenter.

Downloadcenter

Investor presentation June 2025

(pdf 4.1 MB)

Six-Monthly Financial Report 6M 2025

(pdf 5.2 MB)

Investor and analyst presentation 6M 2025

(pdf 1.2 MB)

Online version Annual Report 2024

Annual Report 2024

(pdf 8.0 MB)

KPIs and targets 2024

(pdf 75 kB)

Factbook 2025

(pdf 12.8 MB)

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Why invest in EnBW?

Integrated utility driving forward energy transition
Robust diversified portfolio with high share of low-risk business
Hedging of earnings from marketed electricity generation
Ambitious climate action targets
Prudent financial policy
Stable government-related shareholder structure

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Focus on investor dialogue

EnBW’s corporate and financing strategy are the focus of our investor communication. To us, investor relations means providing capital market participants with comprehensive and timely information, and also reflecting how they view EnBW back to the Company. That is why we attach great importance to continuous dialogue with investors.
Marcel Münch, SVP Finance, M&A and Investor Relations

Investor Relations – Contacts