EnBW Energie Baden-Wuerttemberg has revised its full-year guidance upwards after reporting a reduced net loss in the third quarter. This positive outcome can be attributed to increased profitability in its renewable energy infrastructure business.
The German energy group now anticipates adjusted earnings before interest, taxes, depreciation, and amortization for the year to be in the range of 5.9 billion to 6.5 billion euros ($6.30 billion-$6.95 billion), compared to the previous estimate of EUR4.7 billion to EUR5.2 billion.
EnBW’s Sustainable Generation Infrastructure segment witnessed a significant 82% year-on-year increase in adjusted Ebitda during the first nine months, amounting to EUR3.5 billion. This growth was primarily driven by thermal power generation and energy trading due to heightened market volatility.
In the third quarter, EnBW recorded a net loss of EUR8.8 million, a substantial improvement compared to the EUR400.7 million loss during the same period last year. Revenue also decreased from EUR12.4 billion to EUR8.1 billion.
Ebitda, on the other hand, rose from a loss of EUR30.3 million in the previous year to EUR530.6 million in this quarter.
EnBW is now set to invest an average of EUR4.5 billion per year in various growth projects over the next few years. These investments will include expanding renewable energy sources, improving grid infrastructure, and developing charging infrastructure for electric vehicles.