EnBW Energie Baden-Württemberg AG, DE0005220008

EnBW Energie Baden-Württemberg stock reports stable half-year earnings

Published on 10/05/2026 at 20:57 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

EnBW Energie Baden-Württemberg stock was last at EUR 68.20 on October 5, 2026, 6.83 percent below its 52-week high. First-half adjusted EBITDA fell 6.3 percent.

EnBW Energie Baden-Württemberg AG, DE0005220008, Illustration mit AI erstellt.

EnBW Energie Baden-Württemberg AG stock (ISIN DE0005220008) was last at EUR 68.20 on Xetra on October 5, 2026, at 5:35 p.m. CEST, down 0.29 percent and 6.83 percent below its 52-week high of EUR 73.20. The company reported adjusted EBITDA of EUR 2,268.1 million for the first half of 2026, while maintaining its full-year guidance.

Half-year EBITDA falls 6.3 percent

According to EnBW, adjusted EBITDA declined 6.3 percent from EUR 2,420.3 million in the first half of 2025 to EUR 2,268.1 million in the first half of 2026. Adjusted group net profit attributable to shareholders fell 5.9 percent to EUR 594.7 million from EUR 631.9 million.

The full-year adjusted EBITDA outlook remained unchanged at EUR 4.6 billion to EUR 5.1 billion. That guidance range places the first-half result at 44.5 percent to 49.3 percent of the lower and upper ends, respectively, of the company target.

Grid earnings offset generation decline

System Critical Infrastructure produced adjusted EBITDA of EUR 1,298.1 million in the first half, up 0.7 percent from EUR 1,289.6 million. The segment includes electricity and gas transmission and distribution networks, making it the most stable earnings contributor in the reported period.

By contrast, Sustainable Generation Infrastructure generated EUR 805.8 million of adjusted EBITDA, down 25.5 percent from EUR 1,081.3 million. EnBW attributed the decline to lower marketed power revenue, coal capacity reductions and weaker run-of-river generation caused by low river levels.

Customer infrastructure improves

Smart Infrastructure for Customers delivered adjusted EBITDA of EUR 309.3 million, up 32.7 percent from EUR 233.0 million. The company linked the improvement to the rollout and utilization of its fast-charging infrastructure.

EnBW also reported EUR 2,431.7 million of gross investment in the first half of 2026, down 21.7 percent from EUR 3,107.3 million in the prior-year period. Its fast-charging network exceeded 9,000 points across Germany, while the He Dreiht offshore wind project had 43 connected turbines with 645 megawatts installed.

Stock remains below yearly high

EnBW stock was last at EUR 68.20 on Xetra on October 5, 2026, with a market capitalization of EUR 22.1 billion and a 52-week range of EUR 63.00 to EUR 73.20. The market value therefore remains closer to the yearly high than the yearly low, while the half-year figures show a widening gap between resilient grid earnings and weaker generation results.