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EnBW sees FY adjusted EBITDA at upper end of forecast range

by Uma
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2023 08 04T073550Z 1 LYNXMPEJ7308I RTROPTP 4 ENBW RESULTS

EnBW sees FY adjusted EBITDA at upper end of forecast range

BERLIN (Reuters) – German utility EnBW confirmed its full-year outlook on Friday, with adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) now expected to be at the upper end of the forecast range of 4.7-5.2 billion euros.

The German utility said its half-year adjusted EBITDA came in at 3.5 billion euros, citing preliminary results, more than double the 1.4 billion euros it reported for the first six months of 2022.

EnBW said the jump in earnings was mainly driven by its Sustainable Generation Infrastructure segment, which saw growth in thermal power generation and energy trading as a result of high market volatility.

The company is scheduled to release its final half-year figures on Aug. 11.

 

(Writing by Rachel More, Editing by Friederike Heine)