“EnBW remains on course to reach earnings turnaround”

German utility EnBW reported a 10.9 percent increase in its first-half core profit, citing refunds of a nuclear fuel tax, consolidation of a majority in gas supplier VNG in April 2016, and the sale of an offshore wind park stake, reports Reuters. EnBW is “well on track” to reach its earnings target for 2017, but “must continue to make every effort to achieve it”, said Thomas Kusterer, Chief Financial Officer, in a press release. “The reimbursement of the nuclear fuel rod tax changes nothing in this regard. Although it eases the tense situation in terms of equity and debt on the balance sheet, it is just a one-off extraordinary effect,” said Kusterer.

Find the Reuters article in English here and the EnBW press release in English here.

For background, read the CLEW dossier Utilities and the energy transition.