German utility EnBW’s adjusted Ebitda increased 46% to €1.19 billion in the first quarter of 2022, with better performance from renewables and longer operating hours from its fossil fuel plants driving the growth.
Adjusted Ebitda in EnBW’s sustainable generation segment more than doubled to €821.1 million. This included a 41% increase in adjusted Ebitda – to €292.2 million – in its renewable energies division.
EnBW explained that this was due to significantly better onshore and offshore wind conditions and the construction of new plants.
It added that its earnings at group level were also boosted by operating its fossil fuel plants for longer in order to guarantee security of supply.