EnBW Energie Baden-Wuerttemberg AG
(CHIX:EBKd)
€
45.09
(0%)
Market Cap: 22.06 Bil
Enterprise Value: 42.18 Bil
PE Ratio: 193.31
PB Ratio: 1.71
GF Score: 74/100 
Q4 2024 EnBW Energie Baden Wuerttemberg AG Earnings Call Transcript
Mar 26, 2025 / 01:00PM GMT
Release Date Price:
€45.09
Key Points
Positve
- EnBW Energie Baden-Wuerttemberg AG (XTER:EBK) delivered a solid performance in 2024, reaching its earnings guidance across all segments with an adjusted EBITDA of EUR4.9 billion.
- The company achieved significant milestones, including increasing its renewable capacity to 6.6 gigawatts, representing 59% of its overall generation portfolio.
- EnBW invested over EUR6 billion in 2024, primarily in grids and renewables, laying the foundation for future earnings growth.
- The company was promoted to the ESG leader category with an AA rating from MSCI, reflecting its successful environmental achievements.
- EnBW's e-mobility network expanded to over 6,000 fast charging points in Germany, providing access to more than 800,000 charging points in 17 countries in Europe.
Negative
- The company faces challenges due to the need for clarity on evolving framework conditions from Berlin and the European Union to ensure the continued success of the energy transition.
- EnBW's adjusted net profit decreased by EUR1.3 billion compared to 2023, driven by higher profitability attributable to non-controlling interests.
- The company experienced a year-over-year decrease in adjusted EBITDA for renewables due to lower realized electricity prices, mainly from pump storage.
- Net debt increased by EUR2.5 billion to more than EUR14 billion, driven by significant net cash investments totaling EUR5.2 billion.
- The company faces strong competition in the commodity business for electricity and gas, which may impact the operating earnings of its smart infrastructure for customers segment.
Marcel Munch
EnBW Energie Baden Wuerttemberg AG - SVP Finance, M&A and Investor Relations
Over to you.
Operator
Thank you very much, Marcel. I would like to remind all participants that you're on a listen-only mode and the conference is being recorded. (Operator Instructions)
At this time, it's my pleasure to hand over to Marcel Münch. Please go ahead.
Marcel Munch
EnBW Energie Baden Wuerttemberg AG - SVP Finance, M&A and Investor Relations
Ladies and gentlemen, in a moment, Georg and Thomas will lead you through today's presentation followed, as usual, by a Q&A session.
And with this, let's kick off. Georg, over to you.
Georg Stamatelopoulos
EnBW Energie Baden Wuerttemberg AG - Chairman of the Management Board, Chief Executive Officer, Chief Operating Officer - Sustainable Generation Infrastructure
Thank you, Marcel. It's my great pleasure to welcome you all today. I am delighted to touch base with the financial community once again with the
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