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9M 2023 financial key take aways
- Significant increase of adjusted EBITDA to €4.9 bn: +65%
- Outlook 2023 on Group level revised: €5.9 to 6.5 bn (previously €4.7 to 5.2 bn)
- Very strong liquidity position of €6.5 bn
Focus on driving the energy transition
-
TransnetBW: Long-term investment partners for a minority stake of 49.9%
May 2023: Sale of 24.95% to Südwest Konsortium Holding GmbH
Nov 2023: Sale of another 24.95% to German state-owned KfW bank - Managing merchant risk for 960 MW offshore wind farm He Dreiht ~ half of capacity already secured via PPAs
- Build-upof low-CO2,dispatchable power generation Nov 2023: Start of construction at the Altbach/Deizisau site
- EnBW sets the benchmark for e-mobilityin Germany First company to reach 1,000 quick-charging stations
2
in € m
4,921 | |
2,990 | |
+65% | |
9M 20222 | 9M 2023 |
in € m
2,360 | |
1,105 | |
+114% | |
9M 20222 | 9M 2023 |
1 Attributable to the shareholders of EnBW AG | 3 |
2 Previous year's figures restated | |
in € m
305 | 225 |
-26% | |
9M 20221 | 9M 2023 |
Lower seasonality in procurement prices than in the previous year Churn rates in electricity and gas sales below previous year's level
Negative one-off effect from deconsolidation of bmp2 and associated write-downs of receivables
Lower gas sales volumes due to milder weather and savings behavior
1 | Previous year's figures restated | 4 |
2 | A green gas supply and sales company within EnBW group | |
in € m
1,428 | |
Significant growth in revenues from grid usage as a result of | |
960 | increased investments in grid expansion |
Higher grid usage revenue compared with 2022 due to higher | |
+49% | revenue caps in 2023, as the planned expenses for grid reserve and |
redispatch in 2023 are fully priced into the revenue cap | |
9M 20221 | 9M 2023 |
1 Previous year's figures restated | 5 |
in € m
3,465
786
1,900
8392,679
+82%
1,060
9M 20221 | 9M 2023 |
- Previous year's figures restated
- Nuclear power plant Neckarwestheim block II
- Heilbronn combined heat and power plant block 7
Positive earnings trend for run-of-river electricity generation 280 MW expansion of wind farms and photovoltaics portfolio
Falling prices in the direct marketing of volumes generated from wind and photovoltaic
Significantly higher prices for generation sold in advance
Negative effects from the curtailment and termination of gas supplies in 2022 no longer apply
Less electricity produced at GKN II2 due to final nuclear shutdown and outage of coal-fired power station HLB 73
6
in € m | +26% | ||||||||
4,921 | |||||||||
-584 | -281 | ||||||||
176 | -260 | -128 | 3,843 | ||||||
-669 | |||||||||
3,174 | |||||||||
2,528 | |||||||||
Adjusted | Taxes paid | Payments in | Interest & | Interest paid | Others | FFO | Declared | RCF | RCF |
EBITDA | relation to | dividends | dividends | 9M 2023 | 9M 20222 | ||||
9M 2023 | ALM model3 | received |
1 | Figures adjusted for effects from the Asset Liability Management model (payments for pension and nuclear obligations, effects from financial assets on interest and taxes). | |
2 | Previous year's figures restated. | 7 |
3 | Impact of payments for pension and nuclear obligations on the operating business limited to €375 m p.a. (plus an inflation supplement) by taking funds from the dedicated financial assets; |
as of 30 September 2023, the impact amounts to €281 m.
in € m
+4%
11,238 | |||||
10,847 | -295 | ||||
2,328 | -114 | ||||
-3,843 | 1,647 | ||
669 | |||
RCF: -3,174 |
Net debt | FFO | Declared dividends | Adjusted | Net cash | Change in pension | Others | Net debt |
31.12.2022 | working capital | investments | provisions | 30.9.2023 |
1 The liquid funds in the EEG account are only held in custody by the transmission system operator but may not be used for operational business purposes. Due to the amount as of the balance sheet date, | 8 |
net debt is reported without the cash and cash equivalents from the EEG account. EEG account 31 December 2022: 2,289.5 m; EEG account 30 September 2023: 589.7 m | |
in € bn
Annual | 4.7 - 5.2 |
2022: 4.0 | |
Report 2022 | |
Annual Report 2022
0.4 - 0.5
2022: 0.5
Annual Report 2022
1.6 - 1.9
2022: 1.1
Annual Report 2022
2.9 - 3.2
2022: 2.6
5.9 - 6.5
0.35
-
0.45
1.6
-
1.9
4.3
-
4.6
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EnBW - Energie Baden-Württemberg AG published this content on 13 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 November 2023 10:02:08 UTC.
