• Securing our profitability. The adjusted EBITDA is the earnings before the investment and financial results, income taxes and amortization and adjusted for non-operating effects. Adjusted EBITDA is a key performance indicator for the finance goal dimension, while the key performance indicators for the strategy goal dimension, which describe the shares of adjusted EBITDA accounted for by the segments are derived from it.
• Managing the financial profile. The key performance indicator debt repayment potential describes the retained cash flow in relation to net debt. The debt repayment potential measures the ability of EnBW to repay its debts from its current earnings potential. This performance indicator should enable us to achieve a controlled growth in earnings within the scope of our financial targets, while maintaining a solid investment-grade rating at the same time. To manage our financial profile, we regularly check whether the debt repayment potential complies with the latest requirements of the rating agencies.
• Increasing the value of the company. The value spread measures the surplus return over the minimum return on capital employed before taxes in a reporting period. It is calculated by deducting the minimum return on capital employed before tax, defined by the weighted average cost of capital (WACC), from the return on capital employed before taxes that was actually achieved. Value spread replaced ROCE (return on capital employed) in 2022. It is a more meaningful indicator and is independent of external market influences, making it easier to manage and also improves the comparability of the data.

Our EnBW 2025 strategy is increasingly placing the company’s focus onto the infrastructure aspects of existing energy-related business fields and utilizing our core expertise to exploit new growth opportunities above and beyond the energy sector.

• Improving our reputation. In view of the radical changes to the energy landscape, successful corporate growth as an energy company requires social acceptance. The Reputation Index reflects the diverse range of activities, influencing factors and assessments of a variety of stakeholder groups.
• Customer proximity. The key performance indicator Customer Satisfaction Index is used to assess the satisfaction of our private end customers with whom we have a direct customer relationship. The information is compiled using comprehensive customer surveys about the brands EnBW and Yello conducted by an external service provider.
• Supply reliability. Providing a reliable and safe supply of energy to our customers has the highest priority. SAIDI (System Average Interruption Duration Index) serves as the key performance indicator for supply reliability. It specifies the average length of supply interruption in the electricity distribution grid experienced annually by each connected customer. SAIDI includes all unscheduled interruptions to supply that last more than three minutes for the end consumer.

• Expand renewable energies (RE).The share of our generation capacity accounted for by renewable energies in 2025 is to be > 50%.
• Climate protection. EnBW actively contributes to climate protection by successively reducing the CO₂ intensity of its own generation of electricity (excluding nuclear power) by 15 to 30% by 2025 compared to the reference year 2018⁰The reference year is 2018 because the 2020 reporting year cannot be considered representative for the coming years (due to, among other things, market effects and the coronavirus pandemic)..

• Engagement of employees.The PEI expresses how engaged employees are in their work at EnBW. It is compiled at all companies with more than 100 employees (except for the Independent Transmission Operators [ITOs]) as part of an employee survey carried out by an external, independent service provider. It is determined based on the first question of the standardized list of questions “How happy are you working for the EnBW Group and the companies in the Group?” It is a question that uses a rating scale from 1 (I do not agree at all) to 5 (I agree completely). The value determined is then converted to a scale of 0 to 100.
• Occupational safety. The LTIF indicates how many accidents at work led to at least one day of absence, based on one million hours worked. The calculation of the LTIF overall generally includes all companies with more than 100 employees. For the calculation of the LTIF for companies controlled by the Group, those companies engaged in the area of waste management are excluded because the number of accidents deviates significantly from that in the core business in the energy industry. External agency workers and contractors are not taken into account in either performance indicator. The number of accidents at work and the resulting days of absence should remain stable or fall.