EnBW has generated revenue of some € 6.67 billion and an operating result (adjusted EBITDA) of € 723 euros in the first quarter of 2019. This marks a rise of 5.3% year-on-year (Q1 2018: approximately € 687 million). The increase in earnings is mainly due to the good performance of the Grids and the Renewable Energies segments.
In the Renewable Energies segment, the adjusted EBITDA of € 118.6 million exceeded the previous year’s figure by 24.3%. The substantial earnings growth is partly due to good wind conditions this spring, most of all with an improvement in offshore wind yields. New builds and purchases of onshore wind farms in 2018, among other places in Sweden, also had a positive impact on earnings.
EnBW has confirmed its earnings guidance for the full year 2019. Adjusted EBITDA for the 2019 financial year is expected to be in a range between € 2.35 and 2.5 billion, which is 9% to 16% above the previous year.
The EnBW Group’s total investment, at 330 million euros, was 40% higher than in the first three months of the previous year (approximately 235 million euros). 76% of total gross investment related to growth projects, primarily in Grids and Renewable Energies segments. In Renewable Energies, the increased investment was primarily directed at the EnBW Hohe See and EnBW Albatros construction projects.