10 Nov 2016

Utility EnBW upholds 2016 earnings forecast

EnBW

Major German utility EnBW confirmed its forecast for the year 2016 of an operating profit (adjusted EBITDA) five to ten percent below last year’s result [2.1 billion euros], the company said in a press release. After the first nine months of the year, the operating result fell 16 percent below the 2015 value, which EnBW attributed to “temporary effects in the area of power generation” that would be “balanced out by the end of the year.” The group profit attributable to shareholders of 50.6 million euros was substantially lower than the 998.1 million euros in 2015, when the result was “strongly influenced” by “one-off capital gains on disposal of securities”, EnBW added.

Read the company’s press release in English here.

Read more on German energy providers during the Energiewende in the CLEW dossier Utilities and the energy transition.

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