The operating profit decreased compared to the same period last year by 3.7 percent to 1.42 billion euros, as the company announced on Friday in Karlsruhe. Sales, on the other hand, grew by a good 114 percent to 27.12 billion euros.
The difficult situation primarily affected the Networks and Sales divisions. Because of the security of supply, reserve power plants were used more often than in the first six months of the previous year. In sales, increased procurement costs for electricity and gas triggered a decline in earnings. By contrast, the renewable energies segment increased its profit contribution.
The consolidated profit attributable to EnBW shareholders amounted to just under 564 million euros in the first half of the year. In the same period of the previous year, a loss of almost 163 million euros was incurred – the main reason for this at the time was depreciation of 700 million euros.
Despite the uncertainties, the group is sticking to its earnings forecast for the current year. An operating profit of the order of 3.03 to 3.18 billion euros is expected. That would be an increase of two to seven compared to the previous year.
In XETRA trading, the EnBW share rose by 2.29 percent to 98.20 euros.
/cb/DP/jha
KARLSRUHE (dpa-AFX)
Leverage must be between 2 and 20
No data
More news about EnBW
Image sources: EnBW