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Reporting 12M 2024

Date
Event
Time
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Date
26 March 2025
Event
Publication Reporting 12M 2024

Publication Integrated Annual Report 2024
Time
09:00 a.m. (CET)
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Press conference full year 2024
Time
10:30 a.m. (CET)
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Investor and analyst conference full year 2024
Time
02:00 p.m. (CET)
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Reporting 9M 2024

The stable earnings are important in order to successfully drive forward the green transformation of our portfolio. Our gross investments amounted to just under €3.9 billion. This is a significant increase of almost 40% on the previous year.

Thomas Kusterer, Deputy CEO and CFO

Figures 9M 2024

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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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Share of adjusted EBITDA: €1,981 m
Sustainable Generation Infrastructure

Renewable Energies

- Lower margins from pumped storage

+ Higher wind resources and water levels

Thermal Generation and Trading

- Market normalization with lower realized hedged generation margins

- Reduced volatility in commodity markets and lower market prices

Share of adjusted EBITDA: €1,772 m
System Critical Infrastructure

+ Higher earnings due to returns from increased investments in grid

+ Lower expenses for grid reserve and redispatch thanks to fewer requests and lower fuel costs

- Higher personnel expenses

Share of adjusted EBITDA: €233 m
Smart Infrastructure for Customers

+ Absence of negative prior-year effect relating to deconsolidation of our subsidiary bmp greengas0A green gas supply and sales company within EnBW Group.

- Restructuring of the product portfolio and marketing expenses of our solar home storage subsidiary Senec

- Lower sales volumes

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Performance indicators of the EnBW Group

in € million
01/01-30/09/2024
01/01-30/09/2023
Change in %
01/01-31/12/2023
in € million
External revenue
01/01-30/09/2024
26,771.7
01/01-30/09/2023
34,654.9
Change in %
-22.7
01/01-31/12/2023
44,430.7
in € million
Adjusted EBITDA
01/01-30/09/2024
3,744.9
01/01-30/09/2023
4,921.1
Change in %
-23.9
01/01-31/12/2023
6,365.2
in € million
Share of adjusted EBITDA accounted for by Sustainable Generation Infrastructure in € million/in %
01/01-30/09/2024
1,980.5 / 52.9
01/01-30/09/2023
3,464.7 / 70.4
Change in %
-42.8 / –
01/01-31/12/2023
4,647.6 / 73.0
in € million
Share of adjusted EBITDA accounted for by System Critical Infrastructure in € million/in %
01/01-30/09/2024
1,771.6 / 47.3
01/01-30/09/2023
1,428.2 / 29.0
Change in %
24.0 / –
01/01-31/12/2023
1,772.0 / 27.8
in € million
Share of adjusted EBITDA accounted for by Smart Infrastructure for Customers in € million/in %
01/01-30/09/2024
233.0 / 6.2
01/01-30/09/2023
224.6 / 4.6
Change in %
3.7 / –
01/01-31/12/2023
239.5 / 3.8
in € million
Share of adjusted EBITDA accounted for by Other/Consolidation in € million/in %
01/01-30/09/2024
-240.2 / -6.4
01/01-30/09/2023
-196.4 / -4.0
Change in %
-22.3 / –
01/01-31/12/2023
-293.9 / -4.6
in € million
EBITDA
01/01-30/09/2024
4,294.8
01/01-30/09/2023
5,664.6
Change in %
-24.2
01/01-31/12/2023
5,738.3
in € million
Adjusted EBIT
01/01-30/09/2024
2,498.4
01/01-30/09/2023
3,685.0
Change in %
-32.2
01/01-31/12/2023
4,678.9
in € million
EBIT
01/01-30/09/2024
3,047.9
01/01-30/09/2023
4,039.5
Change in %
-24.5
01/01-31/12/2023
3,341.3
in € million
Adjusted Group net profit0In relation to the profit/loss attributable to the shareholders of EnBW AG.
01/01-30/09/2024
1,267.9
01/01-30/09/2023
2,360.3
Change in %
-46.3
01/01-31/12/2023
2,779.5
in € million
Group net profit/loss0In relation to the profit/loss attributable to the shareholders of EnBW AG.
01/01-30/09/2024
1,578.9
01/01-30/09/2023
2,516.9
Change in %
-37.3
01/01-31/12/2023
1,537.6
in € million
Earnings per share from Group net profit (€)0In relation to the profit/loss attributable to the shareholders of EnBW AG.
01/01-30/09/2024
5.83
01/01-30/09/2023
9.29
Change in %
-37.3
01/01-31/12/2023
5.68
in € million
Retained cash flow
01/01-30/09/2024
1,463.1
01/01-30/09/2023
3,174.2
Change in %
-53.9
01/01-31/12/2023
4,831.5
in € million
Net cash investment
01/01-30/09/2024
3,393.5
01/01-30/09/2023
2,327.5
Change in %
45.8
01/01-31/12/2023
2,739.8
in € million
30/9/2024
31/12/2023
Change in %
in € million
Net debt
30/9/2024
13,284.5
31/12/2023
11,703.1
Change in %
13.5

Financial and strategic performance indicators

30/9/2024
30/9/2023
Change in %
31/12/2023
Employees0Number of employees excluding apprentices/trainees and inactive employees.0The number of empolyees for the ITOs (ONTRAS Gastransport GmbH, terranets bw GmbH und TransnetBW GmbH) is only updated at the end of the year; for intervals of less than a year, the number of employees from 31/12/2023 is carried forward.
30/9/2024
29,462
30/9/2023
28,064
Change in %
5.0
31/12/2023
28,630
Full-time equivalents0Converted into full-time equivalents.
30/9/2024
27,696
30/9/2023
26,415
Change in %
4.8
31/12/2023
26,943

Employees

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Guidance 2024 reiterated and on track

in € bn

Reporting 6M 2024

Our half-year earnings are fully in line with our expectations. After the previous year’s exceptional performance due to the unusual market price levels, earnings have returned to normal. We continue to expect earnings in the current financial year to be in a range between €4.6 bn and €5.2 bn.

Thomas Kusterer, Deputy CEO and CFO

Downloads

Media conference call
(German)
9 August 2024, 10:00 a.m. (CEST)

Investors and analyst conference call
9 August 2024, 2:00 p.m. (CEST)

Recording

Figures 6M 2024

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Adjusted EBITDA
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Adjusted Group net profit
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Retained cash flow
0 m
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Net debt
0 m
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Share of adjusted EBITDA: €1,451 m
Sustainable Generation Infrastructure

Renewable Energies

- Lower margins from pumped storage

+ New capacity additions in onshore wind and solar

+ Higher run-of-river power generation and better wind yields

Thermal Generation and Trading

- Lower realized hedged generation margins

- Lower trading results due to reduced volatility in commodity markets

Share of adjusted EBITDA: €1,157 m
System Critical Infrastructure

+ Higher earnings as a result of increased investments in grid expansion

+ Lower expenses for maintaining grid reserve and redispatch

- Higher personnel expenses

Share of adjusted EBITDA: €173 m
Smart Infrastructure for Customers

+ Absence of negative prior-year effect relating to deconsolidation of our subsidiary bmp greengas

- Lower sales volumes due to mild temperatures

- Restructuring of the product portfolio of our solar home storage subsidiary

Reporting 3M 2024

In the current financial year we continue to expect earnings lightly lower, in a range between €4.6 billion and €5.2 billion. The reason for this is lower revenue from the marketing of electricity generated by our power plants, due to the normalization of the market price level. However, our integrated portfolio approach means that we have a highly robust business model.

Thomas Kusterer, Deputy CEO and CFO

Figures 3M 2024

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Adjusted EBITDA
0 m
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Adjusted Group net profit
0 m
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Retained cash flow
0 m
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Net debt
0 m
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Share of adjusted EBITDA: €798 m
Sustainable Generation Infrastructure

Renewable Energies

Increase in earnings from run-of-river and offshore

Increased capacity due to reallocation of pumped storage assets offset by lower realized electricity

Thermal Generation and Trading

Significantly lower realized hedged generation margins

Lower volatility and less favorable commodity environment in the gas market

Absence of income from nuclear generation

Share of adjusted EBITDA: €574 m
System Critical Infrastructure

Positive margin effects

Good grid reserve and redispatch performance

Higher personnel expenses

Share of adjusted EBITDA: €78 m
Smart Infrastructure for Customers

Lower seasonality in the purchase prices

Good underlying performance, in particular from B2B at EnBW's subsidiaries

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