EnBW expects core profit to fall in 2024 on lower wholesale prices
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German regional utility EnBW expects its core earnings to fall by up to 28% in 2024, with adjusted EBITDA expected to be between 4.6 billion and 5.2 billion euros ($5.0-5.6 billion), down from 6.4 billion in 2023. The company attributes the decline to lower selling prices for the power it generates. EnBW plans to propose a dividend of 1.50 euros per share for 2023, an increase from the 1.10 euros paid for the prior year. Other European rivals have also forecast falling profits due to normalizing wholesale power prices following market disruption caused by the Ukraine war.
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