Q1 2026 EnBW Energie Baden Wuerttemberg AG Earnings Call Transcript

May 12, 2026 / 08:00 AM GMT

Release Date Price: €45.09

Transcript

Key Points

Positve

EnBW Energie Baden-Wuerttemberg AG (XTER:EBK) reported a solid start to fiscal year 2026 with adjusted EBITDA of EUR1.2 billion, in line with expectations.
The company successfully issued EUR1 billion in green hybrid funds, attracting high investor interest and securing a significant share of funding needs for 2026.
The offshore wind project at Wright is progressing well, with 45 of 64 turbines installed and the majority of capacity secured to long-term PPAs.
EnBW expanded its e-mobility infrastructure by adding 500 fast charging points, bringing the total to over 8,500, supporting growth in smart infrastructure.
Liquidity remains strong with nearly EUR10 billion in cash and cash equivalents and almost EUR10 billion of undrawn facilities, positioning the company well to absorb market volatility.

Negative

Sustainable Generation Infrastructure earnings were lower than last year, mainly due to weaker performance in thermal generation and trading.
Hydro levels across Germany were lower than expected, impacting earnings from renewable energy sources.
Thermal generation and trading contributed less to earnings, reflecting lower hedge generation margins and weaker trading performance.
Gross investment for the first quarter was 21% below the prior year level, reflecting the maturity of the project portfolio rather than a slowdown in execution.
Higher personal and maintenance costs partially offset the positive development in regulated grid revenues.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

EBKG.DE - EnBW Energie Baden Wuerttemberg AG
Q1 2026 EnBW Energie Baden Wuerttemberg AG Earnings Call
May 12, 2026 / 08:00AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, welcome to the ENBW Investors and Analysts Conference on the first quarter of 2026.

I'm Vicki Vicol's call operator.

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