EnBW, Germany's Third-Largest Energy Supplier, Records a Significant Increase in Operating Result (Adjusted EBITDA) of Over 60 Percent to Nearly 6.4 Billion Euros Last Year. The Decisive Factors for This Development Were Particularly the Business Segments of Thermal Energy Generation, i.e., Coal and Gas, as Well as Trading.

Increased Market Prices and Market Fluctuations Enabled the Karlsruhe Company to Sell Generated Electricity Quantities at Significantly Improved Conditions Compared to the Previous Year 2022. However, a Decrease in Operating Results to Between 4.6 and 5.2 Billion Euros is Forecast for 2023, Due in Part to an Expected Reduction in Market Volatility.

CFO Thomas Kusterer explained that the exceptionally positive results of the past year in the area of thermal generation and trading cannot be readily projected into the future. In response to the financially successful balance sheet, new CEO Georg Stamatelopoulos announced that EnBW will significantly increase its investments in the energy transition in the coming years.

Planned are gross investments of 40 billion euros by 2030, of which about 90 percent are to be made in Germany. Stamatelopoulos, who took over the company's management just under three weeks ago, intends to further develop EnBW strategically, relying on the existing strategy as a solid foundation.

The EnBW stock records an increase of 0.80 percent to 76.00 euros in XETRA trading. Stamatelopoulos, who has taken the helm from his predecessor Andreas Schell, who left the company following disagreements over strategic orientation, emphasizes the importance of accelerating the expansion of renewable energy and network infrastructure, as well as the construction of modern power plants.