EnBW Energie Baden Württemberg : Investor and analyst presentation 9M 2023 (2024)

ENBW ENERGIE BADEN-WÜRTTEMBERG AG

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EnBW Energie Baden-Württemberg AG

Equities

EBK

DE0005220008

Electric Utilities

Market Closed - Xetra Other stock markets 11:36:10 2024-06-21 am EDT			5-day change	1st Jan Change
68.6 ^EUR	+1.48%		-0.29%	-13.38%

Jun. 21	Agency auctions wind farm rights for three billion euros	DP
Jun. 21	TotalEnergies, EnBW Awarded $3.23 Billion Offshore Wind Farms Auction by Federal Network Agency	MT

November 15, 2023 at 05:04 am EST

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

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

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

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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Disclaimer

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.

Latest news about EnBW Energie Baden-Württemberg AG

Agency auctions wind farm rights for three billion euros	Jun. 21	DP
TotalEnergies, EnBW Awarded $3.23 Billion Offshore Wind Farms Auction by Federal Network Agency	Jun. 21	MT
TotalEnergies, EnBW win in $3.2 billion offshore wind site auction	Jun. 21	RE
Federal government can't handle deal - No purchase of Tennet electricity grid	Jun. 20	DP
Federal government wants to provide better support for lignite mining states	Jun. 17	RE
Energy-saving impetus from energy crisis continues	Jun. 16	DP
Network Agency auctions off wind farm rights at sea again	Jun. 07	DP
Germany gets informal EU go-ahead to support gas-fired power, sources say	Jun. 07	RE
Habeck expects quick EU decision on power plant strategy	Jun. 06	DP
Habeck - Clarity with EU on power plant strategy soon	Jun. 06	RE
No flood damage to nuclear waste storage facilities so far	Jun. 05	DP
EnBW Board of Management: Don't lose sight of the costs of the Energiewende	Jun. 03	DP
Germany counts flooding losses as heavy rains stoke climate debate	Jun. 03	RE
Germany concedes in dispute with EU over gas storage levy	May. 30	RE
Ground-breaking ceremony for electricity highway through the North Sea - Habeck: 'Major project'	May. 21	DP
Expert: UK electricity market becoming increasingly important	May. 21	DP
'Self-healing' grids to fix power outages at lightning speed	May. 19	DP
Dpa-AFX Overview: COMPANIES from 16.05.2024 - 15:15	May. 16	DP
EnBW starts construction of XXL wind farm in the North Sea	May. 16	DP
Controversial debate in the Bundestag on decisions before nuclear phase-out	May. 15	DP
EnBW Energie Baden-Württemberg AG Reports Earnings Results for the First Quarter Ended March 31, 2024	May. 14	CI
Global markets live: Apple, Sony, Vodafone, Booking, Walmart...	May. 14
Transcript : EnBW Energie Baden-Württemberg AG, Q1 2024 Earnings Call, May 14, 2024	May. 14
EnBW Posts Lower Q1 Group Net Profit, Revenue	May. 14	MT
Adnoc, EnBW Sign Deal for LNG Supply from Abu Dhabi	May. 08	MT

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Company Profile

EnBW Energie Baden Wuerttemberg AG (EnBW) is a Germany-based holding company of the EnBW Group, operating in the energy sector. The core activities of EnBW are divided into three business areas: Electricity, Gas, and Energy and Environmental Services. The Electricity business area is divided into Electricity generation and trading, and Electricity grid and sales divisions. It generates electricity from nuclear power, hydropower, solar power, geothermal energy and wind power, among others. The Gas business area consists of the midstream area, including the import agreements and infrastructure, storage, trading, as well as the downstream area, including the distribution and sales. The Energy and Environmental Services business area includes such areas as thermal and non-thermal disposal, water and other energy related services. The Company also has sales offices and subsidiaries in Germany and throughout central and eastern Europe.

Sector

Electric Utilities

Calendar

2024-08-09 - Q2 2024 Earnings Release

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EnBW Energie Baden Württemberg : Investor and analyst presentation 9M 2023

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