The business with renewable energies continues to provide impetus for EnBW: The commissioning of the two offshore wind farms and acquisitions in particular ensured a significant increase in earnings in the first half of the year.
Karlsruhe – EnBW’s business with renewable energies continues to generate momentum. With 23,685 employees, EnBW generated sales of around € 9.73 billion and an operating profit of around € 1.59 billion. This corresponds to an increase in the operating result of 24.3 percent compared to the same period last year, the energy group announced on Thursday in Karlsruhe.
The bottom line, however, is a decrease in the group result by 35.6 percent compared to the same period in the previous year to 184.2 million euros. The reason is the lower financial result, which is characterized by the market valuation of the securities holdings.
EnBW adheres to earnings forecast
In the Renewable Energies business unit, adjusted operating earnings before interest, taxes, depreciation and amortization (adjusted eBitda) – EnBW tracks its current business – doubled to EUR 426 million compared to the same period last year. For the full year, the segment is expected to generate earnings of between 825 and 925 million euros.
For the entire 2020 financial year, EnBW is sticking to its previous earnings forecast despite the expected effects of the Corona crisis on parts of its operating business. The adjusted earnings before interest, taxes, depreciation and amortization (Adjusted Ebitda) is expected to be between 2.75 and 2.9 billion euros – and thus in a range of 13 to 19 percent above the previous year, said CFO Thomas Kusterer .