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EnBW catches up after losing in the first half of the year

EnBW energy group struggles with bad wind conditions on land and at sea – After a slight rebound in the second quarter, however, expectations for the current year are being adhered to. Adjusted earnings before interest, tax, depreciation and amortization (Ebitda) for 2021 should be between 2.825 billion and 2.975 billion euros, according to Thursday. Thus, it is 2 to 7 percent more than the previous year.

Mainly due to the recently published unscheduled consumption of coal-fired power plants, the Karlsruhe-based group slipped into the red in terms of profits: In the first half of the year there was a loss of 162.8 million euros after a gain of 184.2 million in the same period the previous year. However, these special effects will not have any impact on operating business or dividends.

Ebitda’s first-half-adjusted value was €1.48 billion. This is a decrease of 6.8% compared to the first six months of 2020. In the first quarter the deficit was still 13.8 percent.

The company mentioned among other things the reasons for the losses High personnel costs for network expansion and poor wind conditions on offshore and onshore wind farms – “Compared to the previous year and compared to the long-term average.” According to the announcement, EnBW sales increased from 9.80 billion euros to 12.65 billion euros.

Investments in renewable energies and electric mobility, for example, have increased by 30 percent. “The coronavirus pandemic did not have any significant impacts on operational business in the first six months of 2021,” she said. The number of employees grew 5.1 percent to 24,894.