Publication of business figures 2025
EnBW can look back on a successful financial year. Adjusted EBITDA reached €5.1 billion, in the middle of the €4.8 billion to €5.3 billion guidance range. The strong operating result underscores the company’s broad and future-focused portfolio, which gives EnBW flexibility and financial stability even in a challenging environment.
EnBW has systematically forged ahead with the ongoing transformation of the energy infrastructure, investing €7.6 billion in expanding transmission and distribution grids, onshore and offshore wind farms, solar power plants and flexible, hydrogen-ready gas-fired power plants, while also advancing electric mobility. EnBW is thus resolutely pursuing its established course and further extending its leading role in the transformation of the energy system in Germany.
Facts
- Group earnings up on previous year with adjusted EBITDA of €5.1 billion
- CEO Stamatelopoulos: Successful year with EnBW achieving key strategic and operational milestones despite a challenging market environment
- Record €7.6 billion investment in energy infrastructure transformation
- Record expansion of renewable energy to 66% of own generation capacity
2025 was a successful year for us in which we achieved key strategic and operational milestones. We achieved our business target with adjusted EBITDA of €5.1 billion. This also means we can propose a slight increase in the dividend to our shareholders at the Annual General Meeting in May. Three examples from the past year demonstrate how our operating business reflects the balance between supply security, environmental sustainability and affordable energy: We set a record in expanding wind and solar. We invested more than ever before in the transformation of the energy system and thus in security of supply, with clear focus on value orientation and business performance. And at the turn of the year, our customers benefited from the biggest electricity price cut of recent years.
We met our earnings expectations in all three segments. This is important, because the money we generate ourselves is the foundation for implementing our strategy. However, our earnings are not sufficient to finance our ambitious investment spending. We therefore supplement our financing mix with partnership models and by raising funds in the capital market. Including a capital increase, we successfully secured a total of €5 billion in financing in 2025.
Recording of the annual press conference
The recording is only available in German
