EnBW Energie Baden Württemberg : reports stable earnings performance in first half of 2026

About this update from Enbw Energie Baden-wuerttemberg Ag

| IR Release EnBW reports stable earnings performance in first half of 2026 | Adjusted EBITDA of €2.3 billion in line with expectations Full year earnings guidance confirmed EnBW is driving forward energy system transformation with high investments in grid expansion and renewablesEnBW Headquarters on Durlacher Allee (Source: EnBW) Karlsruhe. Following a solid start to fiscal year 2026, EnBW Energie Baden-Württemberg AG (EnBW) has continued its stable performance. In the first six months of the year, the company generated adjusted EBITDA of €2.3 billion (previous year: €2.4 billion). This was notably driven by strong performance in the second quarter. Around 80% of earnings come from low-risk activities, primarily the grids business. The full-year earnings guidance for 2026 remains unchanged. EnBW continues to expect adjusted EBITDA in a range between €4.6 billion and €5.1 billion. Deputy CEO and CFO Thomas Kusterer: "EnBW is in the midst of executing the largest investment program in its corporate history. Our integrated portfolio results in significant capital requirements across the entire energy value chain. With today's investment spending, we are setting the course for the next growth phase and our future positioning. In doing so, we are laying the foundation for sustained growth in grids, renewables, dispatchable generation and our customer business." Adjusted Group net profit attributable to the shareholders of EnBW AG amounted to €595 million in the first half-year (previous year: €632 million), in line with the operating result. Continued high level of investment in transformation of the energy system The EnBW Group's gross investments totaled around €2.4 billion in the first six months of 2026. They primarily targeted the expansion of electricity and gas grids, offshore wind projects - including EnBW's fifth offshore wind farm, He Dreiht - and the construction of low-carbon, hydrogen-ready and flexibly dispatchable gas-fired power plants. One focus of investment has been the expansion of the electricity transmission grid. The section of the ULTRANET project through to Philippsburg, under the responsibility of EnBW subsidiary TransnetBW, is nearing completion. The converter station is already in operation and makes an important contribution to grid stability and system security in Baden-Württemberg. Important milestones have also been reached in ...

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