What is EnBW’s ownership structure?

NECKARPRI-Beteiligungsgesellschaft mbH and Zweckverband Oberschwäbische Elektrizitätswerke (OEW) each hold 46.75% of the shares in EnBW. Municipal shareholders’ associations in Baden-Württemberg hold around 4%. EnBW holds a further 2.08% as treasury shares. The free float of EnBW shares is small at 0.39 percent. (Information as of 30 September 2022). More information Share price | EnBW

What is EnBW’s financing strategy?

EnBW manages its operating funding needs separately from the coverage of Group pension and nuclear energy obligations. In addition to our internal financing capacity, we have the following financing instruments at our disposal to meet our operational funding needs: Debt issuance programmes, subordinated bonds, commercial paper programme, a sustainable syndicated credit line and committed bilateral credit facilities. Long-term pension and nuclear energy obligations are covered via EnBW’s asset liability management model. More information: Financial strategy | EnBW

What sustainable finance instruments does EnBW use?

We have launched several green bond issues (€3.5 billion) since 2018. In line with our Green Financing Framework, the proceeds went to renewable energy projects, energy efficiency projects and clean transportation. Our syndicated credit facility (€1.5 billion) has been sustainable since 2020, with the borrowing costs linked to EnBW’s sustainability performance via three selected sustainability indicators. More information: Sustainable finance | EnBW

Does EnBW have science-based targets and are these climate protection goals already scientifically certified?

In October 2021, we committed to developing science-based targets by joining the Science Based Targets Initiative (SBTi). We are thus expanding our climate neutrality target for Scopes 1 and 2 by including a target for emissions category (Scope) 3. The commitment to SBTi concretizes our climate neutrality target. It enables us to check the conformity of our entire value chain with the targets of the Paris Climate Agreement in our decision-making processes. Our committment is published on SBTi’s website Companies taking action - Science Based Targets .

Figures 12M 2024

Further information

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Adjusted Group net profit

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Retained cash flow

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Our broad portfolio is what makes us successful. In the 2024 financial year, we achieved solid results that will enable us to continue our investment program.
Dr. Georg Stamatelopoulos, CEO

The stable earnings are important in order to successfully drive the green transformation of our portfolio. We currently have over 1.5 gigawatts of renewable energy under construction and are investing heavily in the expansion of the transmission and distribution grids.
Thomas Kusterer, Deputy CEO and CFO

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Further documents can be found in our downloadcenter.

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Annual Report 2024

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KPIs and targets 2024

(pdf 75 kB)

Investor and analyst presentation FY 2024

(pdf 1.9 MB)

Online version Annual Report 2024

Press release full year 2024

(pdf 550 kB)

Investor presentation February 2025

(pdf 3.4 MB)

Factbook 2024

(pdf 12.4 MB)

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Why invest in EnBW?

Integrated utility driving forward energy transition
Robust diversified portfolio with high share of low-risk business
Hedging of earnings from marketed electricity generation
Ambitious climate action targets
Prudent financial policy
Stable government-related shareholder structure

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EnBW’s corporate and financing strategy are the focus of our investor communication. To us, investor relations means providing capital market participants with comprehensive and timely information, and also reflecting how they view EnBW back to the Company. That is why we attach great importance to continuous dialogue with investors.
Marcel Münch, SVP Finance, M&A and Investor Relations

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