The Karlsruhe energy company EnBW presented a satisfactory balance sheet for the first half of 2024 despite a significant decline in business figures. "The half-year result fully reflects our expectations," said Thomas Kusterer, Deputy CEO and CFO of EnBW. In light of the exceptionally good previous year, characterized by unusually high price levels, the result has now normalized, Kusterer added.

In the first half of the year, the adjusted operating profit (Ebitda) decreased by 26 percent to approximately 2.6 billion euros. The adjusted net income of the group fell by almost 44 percent to 927 million euros. These declines are primarily attributed to the segment of sustainable production infrastructure, which benefited particularly strongly from high energy prices in the previous year.

In fiscal year 2023, EnBW recorded an operating result of 6.37 billion euros, marking an increase of over 60 percent. For the current year, Kusterer continues to expect a result between 4.6 and 5.2 billion euros. The group recently employed over 29,300 people, representing an increase of 6 percent.

EnBW invested approximately 2.5 billion euros gross in the first half of 2024, particularly in the expansion of offshore wind power, the construction of low-CO2, hydrogen-capable gas power plants, and the expansion of power transmission and distribution networks. Around 90 percent of these investments are considered ecologically sustainable according to the EU definition, allowing EnBW to exceed the target value of 85 percent.

Moreover, the company was able to further reduce its CO2 emissions by generating more electricity from renewable energy sources and using less coal for power generation than originally planned.

The EnBW share responded positively to the results and temporarily rose by 1.57 percent to 64.60 euros in XETRA trading.