Annual General Meeting of EnBW approves creation of authorized capital

• Approval to create authorized capital as basis for potential capital increase
• Proposed dividend approved, at €1.60 per share slightly above the previous year
• Actions of Board of Management and Supervisory Board ratified

Stuttgart. Shareholders at today’s Annual General Meeting of EnBW Energie Baden-Württemberg AG paved the way for a potential future capital increase. They approved the proposal to create authorized capital of €177 million.

This would enable EnBW to strengthen its equity base by around €3 billion and thus finance additional investment needs of up to €10 billion that are emerging in addition to the €40 billion investment planned from 2024 to 2030. EnBW’s portfolio remains balanced and diversified, with an unchanged focus on expanding transmission and distribution networks, constructing new wind and solar power plants and hydrogen-ready gas-fired power plants, and developing the planned hydrogen core network.

The decision on implementing any capital increase is expected to be made in the course of the year.

Furthermore, the shareholders of EnBW Energie Baden-Württemberg AG approved the payment of a dividend of €1.60 per eligible share. Based on the number of eligible shares, this corresponds to a distribution of approximately €433 million and thus a moderate payout ratio of 29% of adjusted net profit attributable to EnBW shareholders. This will allow more funds to be invested in growth projects in conjunction with the climate-neutral transformation of the energy system.

The Annual General Meeting of EnBW Energie Baden-Württemberg AG ratified the actions of the Board of Management and the Supervisory Board for the 2024 financial year and adopted the remuneration report.

This year, the Annual General Meeting was again held virtually at the Stuttgart headquarters and publicly broadcast on the company’s website through to the end of the CEO’s speech. All registered shareholders were able to speak and ask questions live during the Annual General Meeting.

A list of voting results for all agenda items is available online. A recording of the Annual General Meeting, without the general debate, is also available on the EnBW website from shortly after the end of the meeting.