Q1 2025 EnBW Energie Baden Wuerttemberg AG Earnings Call Transcript
Key Points
- EnBW Energie Baden-Wuerttemberg AG (XTER:EBK) reported a group adjusted EBITDA of EUR1.4 billion, which is 5% above last year's level.
- The company successfully returned to the Swiss market with a dual tranche issuance totaling EUR350 million, expanding its international debt capital market footprint.
- The fuel switch power plant in Suhagraat Minister, with 124-megawatts of installed capacity, was successfully put into operation, marking a significant step in transitioning from coal to hydrogen-ready gas power.
- EnBW installed the world's first 15-megawatt turbine at their 960-megawatt offshore wind farm, showcasing their commitment to renewable energy expansion.
- The company secured almost 130-megawatts in German and French public tenders for onshore wind and solar capacity, contributing to their 1.7-gigawatts of renewables under construction.
- Earnings from sustainable generation infrastructure decreased due to lower realized hedge generation margins and unfavorable weather conditions.
- Adjusted EBITDA for renewables was lower year-on-year due to extremely low wind yields in Q1, particularly affecting offshore wind.
- The thermal generation and trading segment faced lower realized margins and a weak performance in the gas storage business.
- Adjusted net profit attributable to shareholders was EUR442 million, approximately EUR75 million lower than the previous year, due to market valuation effects and higher interest expenses.
- Despite a decrease in net debt to EUR13.5 billion, the company maintains a year-end guidance of EUR17 to EUR17.5 billion, indicating potential future financial pressures.
Ladies and gentlemen, welcome to the EnBW Investor and analyst conference call on the first quarter 2025 results. I am Sandra, the course call operator. (Operator Instructions) The conference must not be recorded for publication or broadcast.
At this time, it's my pleasure to hand over to Lenka Zikmundova, Head of Investor Relations. Please go ahead, madam.
Thank you, Sandra and good afternoon, ladies and gentlemen. Thank you for joining us for EnBW's conference call on the first quarter of fiscal 2025. I'm joined here by our deputy CEO and CFO Thomas Cora, who will lead you through the presentation. now without further delays over to you.
Thank you Lenka It's my great pleasure to welcome all today a financial perspective, the first quarter was a good start to the year with earnings moderately above last year's
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