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.
Figures 9M 2024
attributable to the shareholders of EnBW AG
as of 30.09.2024
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
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
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
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
|
|
|
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
|
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.
Figures 6M 2024
attributable to the shareholders of EnBW AG
as of 30.06.2024
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
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
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.
Figures 3M 2024
Attributable to the shareholders of EnBW AG
as of 31.03.2024
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
System Critical Infrastructure
↑ Positive margin effects
↑ Good grid reserve and redispatch performance
↓ Higher personnel expenses
Smart Infrastructure for Customers
↑ Lower seasonality in the purchase prices
↑ Good underlying performance, in particular from B2B at EnBW's subsidiaries