EnBW Energie Baden Württemberg : Investoren- und Analystenpräsentation Q2 2021

Investor and analyst conference call Q2 2021 »

Thomas Kusterer	Chief Financial Officer
Julia von Wietersheim	Senior Manager Investor Relations

29 July 2021

Investor and analyst conference call Q2 2021

Key messages

Reduction in adjusted EBITDA due to temporary effects

- outlook 2021 unchanged

€1.25 bn one-off effects, mainly due to impairment needs on the power plant portfolio - no impact on operating result

Project news:

Milestone for subsidy-free offshore wind farm He Dreiht: EnBW selects 15-megawatt turbines from Vestas

EnBW to build biggest public fast charging station in Europe

150 MW long-term power purchase agreements for three solar parks signed with Blue Elephant Energy

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Investor and analyst conference call Q2 2021

Temporary effects weigh on adjusted EBITDA

Improvement in the financial result increases adjusted Group net profit

Adjusted EBITDA

in € m
1,587	1,479
	-7%
Q2 2020	Q2 2021

Adjusted Group net profit1

in € m
	594
370
	+61%
Q2 2020	Q2 2021

1 Attributable to the shareholders of EnBW AG

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Investor and analyst conference call Q2 2021

Smart Infrastructure for Customers

Earnings increase driven by improved earnings in the commodity business

Adjusted EBITDA

in € m

	208	Electricity and gas sales
		Improved earnings in the commodity business at all our sales companies
137		Positive earnings development of our subsidiary SENEC
	+52%
Q2 20201	Q2 2021

1 Previous year's figures restated

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Investor and analyst conference call Q2 2021

System Critical Infrastructure

As expected higher expenses due to necessary grid expansion

Adjusted EBITDA

in € m

745	662	Transmission and distribution grids
	Higher revenue from use of gas and electricity
		Higher personnel expense due to the necessary grid expansion
	-11%	Increase in expenses for balancing energy
Q2 2020	Q2 2021

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